pratiktech

Nifty likely to test some resistance around 8480/8500

NSE_EOD:NIFTY   Nifty 50
48 2 1
Overall Nifty             has twice made bottom of 8000 and recovered. Technically chart suggests that price will take some resistance near 8480/8500 and we may see some profit booking. I will suggest that if anyone have long position he should booked it and should wait for some lower levels to re-enter the long position.

Note:
Fib Retrace of 61.80 (Resistance)
Bullish Divergence (Positive)
Big W pattern (Positive)
Yes overall took resistance of 8500 and crash down on global crisis.. Overall first support that's 8285 and below that 8150
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As expected Nifty shades down took resistance
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