Hi,
The Nifty50 gap down opened -314 paints and closed -573 points with volatile of 799 points. Illustrate the 15minuts chart, opened below S2 and moved upward to S1 reached today’s high of 41159 then immediate fell from there to below S3 level 40360. It took good support from there and bounce back to S2-40930 act as Resistance from there again fell to S3 and finally settled above S2 40360. Today most of the traded done in between Pivot to S3 1 bounces in upward and 2 bounces downward. If you see the market moment up and down around 2100 points its heavy volatile session today.
If draw the Fib retracement levels for the day chart the output of support and resistance levels are as follows for tomorrow trades.
Resistance-R3-41515,R2-41174&R1-40905
Pivot -41716, BC41673 & TC41759
Support – S1-40528, S2-40295& S3-39918
If Bank Nifty sustained above 40760 the bull remains and move upwards further 40900 41200& 41500
If Bank Nifty sustained below 40360 it will turn to bear side and ready to retrace the level of 40300 ,39900 & 39500
So, we have to be in very careful to watches the above levels and do the successful trade.
Disclaimer: Not SEBI registered advisers. It is my own analysis by my past experience. You may consult with your finance adviser for your action.
The Nifty50 gap down opened -314 paints and closed -573 points with volatile of 799 points. Illustrate the 15minuts chart, opened below S2 and moved upward to S1 reached today’s high of 41159 then immediate fell from there to below S3 level 40360. It took good support from there and bounce back to S2-40930 act as Resistance from there again fell to S3 and finally settled above S2 40360. Today most of the traded done in between Pivot to S3 1 bounces in upward and 2 bounces downward. If you see the market moment up and down around 2100 points its heavy volatile session today.
If draw the Fib retracement levels for the day chart the output of support and resistance levels are as follows for tomorrow trades.
Resistance-R3-41515,R2-41174&R1-40905
Pivot -41716, BC41673 & TC41759
Support – S1-40528, S2-40295& S3-39918
If Bank Nifty sustained above 40760 the bull remains and move upwards further 40900 41200& 41500
If Bank Nifty sustained below 40360 it will turn to bear side and ready to retrace the level of 40300 ,39900 & 39500
So, we have to be in very careful to watches the above levels and do the successful trade.
Disclaimer: Not SEBI registered advisers. It is my own analysis by my past experience. You may consult with your finance adviser for your action.