This topic contains 1 reply, has 1 voice, and was last updated by Ashish Kyal, CMT 2 weeks ago.
- 27th June 2020 at 10:15 am #219351
Here, nifty has respected 50% retracement zone after several rallies. And here we have drawn a trendline joining those points. which comes at 10000-10050 kind of zone.
So, from now 10000-10050 zone is the zone where we need to keep a watch.If it takes support here than we may start an upmove again towards 10700-10800 kind of zone.
If it breaks below this zone and does not respect 9930-9950 zone (61.8% retracement of rally) than it may breakdown towards 9400-9500 zone, which was huge resistance earlier now may act as support.
But we need to watch that zone carefully.
- 29th June 2020 at 6:58 pm #219673
Ashish Kyal, CMT
Nifty is following Fibonacci relationship very well…