Nifty View: Seems like the “Dark Cloud Cover” pattern about which I mentioned yesterday did play out a bit in today’s trading session as the benchmark Nifty dropped 0.38% to close at 15,795. Now a closer look at the 15min chart of the index clearly shows how the index faced support within the range of (15,760-15,780) multiple times in today's trade. And a couple of more interesting facts - we have a 61.8% Fibonacci Retracement and the “Point of Control” from Volume Profile which confluences close to this range. What does this mean? We have a very strong short term support close to 15,750 and if this level holds tomorrow then we will see a fine bounce back. Keep a close eye on RELIANCE.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
Thank you for following my work and please feel free to share your thoughts and suggestions.
Trade Well. Trade Wise.
Trade Well. Trade Wise.
Whatsapp - wa.me/919836947400
Whatsapp - wa.me/919836947400
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Trade Well. Trade Wise.
Whatsapp - wa.me/919836947400
Whatsapp - wa.me/919836947400
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.