With 2 extremes ended news (Big Growth boost by India's FM vs Increased tariffs by Trump), It would be quite difficult to say short term market movements, but above are the mentioned levels for Nifty. one possible scenario could be, Index testing the lows of 10,640 before making the up move, another scenario being, Mr. Market ignoring one of the big news.
Index on Monday, retraced from its lower trendline as well as upper trend line in the last trading hour. Index closed the day just below the upper trendline.
any fall below 11,690 could mean lower break-out of the triangle. any rise above 11,755 could mean upper break-out.
Index on friday, tested twice, its Fibonnacci 38.2% (11,740) of the 1st impulse wave, also the lower quartile of Mod. S pitchfork intersects the said Fibb level at 11,740 on monday. which can act as a strong support point. better than expected Q4 results of Index Heavyweight HDFC, could further act as a catalyst for the uptrend. Impact of RIL's result (lower than...