LETS DECODE THE POSSIBILITIES IN NIFTY
There is a high probability that nifty will face resistance at 23.6% Fibonacci resistance around i.e 10028 levels at close .
POSSIBLE REASONS - 1. Its Fibonacci retracement level of the previous rally.
2. The number of time nifty has taken support at this level in the past , its now a probable resistance. (support becomes resistance and resistance become support rule)
3. The Red colour trendline is also making a resistance on a long term chart around 10400 level.
CONCLUSIONS - high chances that nifty makes a high around 10400 and fizzles out by the closing of this month.
POSSIBLE REASONS - 1. Its Fibonacci retracement level of the previous rally.
2. The number of time nifty has taken support at this level in the past , its now a probable resistance. (support becomes resistance and resistance become support rule)
3. The Red colour trendline is also making a resistance on a long term chart around 10400 level.
CONCLUSIONS - high chances that nifty makes a high around 10400 and fizzles out by the closing of this month.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.