Hello!!!
As nifty started short term positive momentum(because long term looks bearish due to economical reasons), finds support at 8653.
It is more likely that it come at this level to retest it.
There are two main support and resistance levels
support: 8653 and
resistance: 9118 (long term)
If the Nifty comes to 8700 and doesn't break 8653 then there will be a good trade opportunity in long side, if it breaks then another support is trend line support if it holds on that trend line there is good chances of bounce of nifty.
short term view is positive as nifty has corrected a lot, and might climb to 10000 level in few weeks if global corona data seems positive(peoples recovering from it).
As nifty started short term positive momentum(because long term looks bearish due to economical reasons), finds support at 8653.
It is more likely that it come at this level to retest it.
There are two main support and resistance levels
support: 8653 and
resistance: 9118 (long term)
If the Nifty comes to 8700 and doesn't break 8653 then there will be a good trade opportunity in long side, if it breaks then another support is trend line support if it holds on that trend line there is good chances of bounce of nifty.
short term view is positive as nifty has corrected a lot, and might climb to 10000 level in few weeks if global corona data seems positive(peoples recovering from it).
