kanishkkunal

kanishkkunal

Fibonacci retracement levels indicate where support is likely to occur. Here as per the rally taking place from recent bottom, 23.6% retracement can happen till 13600 which is also the bottom created before the Budget day and hence will act as strong support. Below that, 38.2% level is 12430, which also happens to be the previous top, this again will act as very...

kanishkkunal Updated 

Nifty is nearing the 200 moving average on weekly chart which is at 10300. Historically this has been a strong support zone. After Nifty broke the 100 moving average on weekly chart, it has been in the bear territory. If the 200 moving average is broken (happened in 2008) then it will fall into the recession territory.

kanishkkunal Updated 

SPX can bounce from 200MA on weekly chart as has happened before in 2016 and 2011