Hi,
Let us look into the market movement past month and expectations moment from current levels to either side sustained above or below current levels.
CURRENT LEVELS:
The Nifty50 opened with a gap up of +19.45 points and closed at +49.85 points volatility seems to be 115 points. Formed Bullish with upper and lower shadow candle in the daily chart.
Illustration of the 15-minute chart, which opened at 17756 and went up 83 points to today’s high near R2 level 17839, then not sustained above this level and fell 115 points to today’s low 17724 at the Pivot point, then it took support from there to move up fast 71 points to touched the R1 level and settled 17796.
Today’s total movements were around 270 points.
ONE-MONTH LEVELS:
The Fib retracement levels are drawn for the Monthly chart, the support and resistance levels are as follows for the Month NOV-22 trades.
Resistance:
R3-18477, R2-18056 & R1-17725
Pivot:
P- 17494
Support:
S1-17262, S2-16975 & S3-16510.
ONE-WEEK LEVELS:
The Fib retracement levels are drawn for the weekly chart, the support and resistance levels are as follows for the Nov-22 first week’s trades.
Resistance:
R3-17956, R2-17870 & R1-17802
Pivot:
P- 17754
Support:
S1-17707, S2-17648 & S3-17552
ONE-DAY LEVELS:
The Fib retracement levels are drawn for the Daily chart, the support and resistance levels are as follows for tomorrow’s (31-10-22) trades.
Resistance:
R3-17898, R2-17849- & R1-17810
Pivot & CPR:
P- 17783, BC- 17781 & TC 17785.
Support:
S1-17756, S2-17722 & S3-17668
If Nifty50 is sustained above 17810 the bull run will take place and moves upwards further ready to retrace the level of 17850, 17900 then18000
If Nifty50 is sustained below 17780 the bear run will continue and be ready to retrace the level of 17750, 17700& 17665.
So, we must be very careful to watch the above levels to do successful trade.
Disclaimer: Not SEBI registered advisers. It is my analysis of my experience. You may consult with your financial adviser for your action.
Let us look into the market movement past month and expectations moment from current levels to either side sustained above or below current levels.
CURRENT LEVELS:
The Nifty50 opened with a gap up of +19.45 points and closed at +49.85 points volatility seems to be 115 points. Formed Bullish with upper and lower shadow candle in the daily chart.
Illustration of the 15-minute chart, which opened at 17756 and went up 83 points to today’s high near R2 level 17839, then not sustained above this level and fell 115 points to today’s low 17724 at the Pivot point, then it took support from there to move up fast 71 points to touched the R1 level and settled 17796.
Today’s total movements were around 270 points.
ONE-MONTH LEVELS:
The Fib retracement levels are drawn for the Monthly chart, the support and resistance levels are as follows for the Month NOV-22 trades.
Resistance:
R3-18477, R2-18056 & R1-17725
Pivot:
P- 17494
Support:
S1-17262, S2-16975 & S3-16510.
ONE-WEEK LEVELS:
The Fib retracement levels are drawn for the weekly chart, the support and resistance levels are as follows for the Nov-22 first week’s trades.
Resistance:
R3-17956, R2-17870 & R1-17802
Pivot:
P- 17754
Support:
S1-17707, S2-17648 & S3-17552
ONE-DAY LEVELS:
The Fib retracement levels are drawn for the Daily chart, the support and resistance levels are as follows for tomorrow’s (31-10-22) trades.
Resistance:
R3-17898, R2-17849- & R1-17810
Pivot & CPR:
P- 17783, BC- 17781 & TC 17785.
Support:
S1-17756, S2-17722 & S3-17668
If Nifty50 is sustained above 17810 the bull run will take place and moves upwards further ready to retrace the level of 17850, 17900 then18000
If Nifty50 is sustained below 17780 the bear run will continue and be ready to retrace the level of 17750, 17700& 17665.
So, we must be very careful to watch the above levels to do successful trade.
Disclaimer: Not SEBI registered advisers. It is my analysis of my experience. You may consult with your financial adviser for your action.