Wave Strategy Home Forums Trader’s Forum Nifty near term view

This topic contains 1 reply, has 1 voice, and was last updated by Profile photo ofashishkyal Ashish Kyal, CMT 2 weeks ago.

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  • #219351 Reply

    Pavan Agrawal

    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.

     

     

  • #219673 Reply
    Profile photo ofashishkyal
    Ashish Kyal, CMT

    Nifty is following Fibonacci relationship very well…

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