Nifty levels forecasting for Upcoming session
15 M chart used for analysis
13310-13630 is the Trading Range for upcoming session.
*Resistance & Support /Chart Pattern & Trend:'
Pls Refer the chart,
Channel range brake out and now a new trend line is acting as a resistance & 50 EMA is acting as a good support ,we can see in chart .
NIfty50 is bullish only above the Fibonacci level 0.786 at 12056, since the market witnessed a decent retracement today (21/10/2020) and pulled back till Fibonacci level 0.50 at 11954 it has formed a RISING WEDGE pattern the current point can act as a trend reversal and pull the INDEX down till 11800 to 11775
Key points :
1) Nifty has formed a triple Top