Hi,
The Nifty50 opened a big gap up +260 points and closed +387 points with a volatile of 170 points. Formed Big Bullish candle in the daily chart.
Illustrate the 15-minute chart, which opened 17147 above the R2 level with a big gap up and went downwards to today’s Low of 17117. N50 has sustained above the R3 17211 level then slowly reached today’s high 17287 and finally settled above R317287.
Today’s swing was around 400 points.
The Fib retracement levels are drawn for the Daily chart, the support and resistance levels are as follows for tomorrow’s (06-10-22) trades.
Resistance:
R3-17396, R2-17324- & R1-17266
Pivot & CPR:
P- 17226, BC- 17186 & TC 17266
Support:
S1-17186, S2-17137 & S3-17056
If Nifty50 is sustained above 17300 the bull run will take place and moves upwards further ready to retrace the level of 17400 & 17480.
If Nifty50 is sustained below 17200 the bear run will continue and be ready to retrace the level of 17150, 17050.
So, we must be very careful to watch the above levels and 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.
The Nifty50 opened a big gap up +260 points and closed +387 points with a volatile of 170 points. Formed Big Bullish candle in the daily chart.
Illustrate the 15-minute chart, which opened 17147 above the R2 level with a big gap up and went downwards to today’s Low of 17117. N50 has sustained above the R3 17211 level then slowly reached today’s high 17287 and finally settled above R317287.
Today’s swing was around 400 points.
The Fib retracement levels are drawn for the Daily chart, the support and resistance levels are as follows for tomorrow’s (06-10-22) trades.
Resistance:
R3-17396, R2-17324- & R1-17266
Pivot & CPR:
P- 17226, BC- 17186 & TC 17266
Support:
S1-17186, S2-17137 & S3-17056
If Nifty50 is sustained above 17300 the bull run will take place and moves upwards further ready to retrace the level of 17400 & 17480.
If Nifty50 is sustained below 17200 the bear run will continue and be ready to retrace the level of 17150, 17050.
So, we must be very careful to watch the above levels and 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.