NSE:NIFTY
as whole week i shred this levels and given outstanding outcome. one can check old ideas . even on Thursday expiry 15-10-2020 given more then 300 points short side . each levels act as support and resistance.
As NIFTY had broken the trend, it retest the trend once again to continue the price to flow against the direction of trend.
1D TF also clearly depicts the support zone at 10600 followed by 10000 as explained in previous charts of 1M TF and 1W TF.
-MOHIT RAJANI
On 1W TF there is a zone between 10900-10600 from where NIFTY bounces back majority of the times.
So we can expect the same action to be followed again.
-MOHIT RAJANI
As you can see on monthly chart NIFTY is forming bearish engulfing and most probably it will take a support at 10150 levels (fibonacci 38.2% 1D TF) if it breaks the current support explained in previous chart.
If it breaks that level further support will be at 9000 levels.
-MOHIT RAJANI
NIFTY had a bloodbath today and exactly retested at a Fibonacci retracement level of 23.6%
Now if it breaks this level we can expect NIFTY at 10150 i.e 38.2% retracement .
-MOHIT RAJANI
