Hi,
The Nifty50 opened a gap up of +95 paints and closed -9 points with a volatile of 234 points. Illustrate the 15-minute chart, opened at R1 and moved downward reached pivot from their U-turn, and touch R2 today’s high 17176 but not sustained above this level. N50 fell from there to S2 today’s low 16942 and finally settled at 17007 at the S1 level. Today was a bear trend market most of the trades are done between R2 to S2. Today’s swing was around 750 points
If the Fib retracement levels are drawn for the Daily chart, the support and resistance levels are as follows for tomorrow’s trades
Resistance:
R3-17276, R2-17165 & R1-17097
Pivot & CPR:
P- 17042, BC- 17024 & TC 17059
Support:
S1-16987, S2-16908 & S3-16807
If Nifty50 is sustained above 17060 the bull run will take place and moves upwards further ready to retrace the level of 17100, 171656 then 17275
If Nifty50 is sustained below 16940 the bear run will continue and be ready to retrace the level of 16900 & 16800.
If Nifty50 breaks and closes below 16850. This will lead to a further fall up to 16575. The current trend is to sell on rising
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 gap up of +95 paints and closed -9 points with a volatile of 234 points. Illustrate the 15-minute chart, opened at R1 and moved downward reached pivot from their U-turn, and touch R2 today’s high 17176 but not sustained above this level. N50 fell from there to S2 today’s low 16942 and finally settled at 17007 at the S1 level. Today was a bear trend market most of the trades are done between R2 to S2. Today’s swing was around 750 points
If the Fib retracement levels are drawn for the Daily chart, the support and resistance levels are as follows for tomorrow’s trades
Resistance:
R3-17276, R2-17165 & R1-17097
Pivot & CPR:
P- 17042, BC- 17024 & TC 17059
Support:
S1-16987, S2-16908 & S3-16807
If Nifty50 is sustained above 17060 the bull run will take place and moves upwards further ready to retrace the level of 17100, 171656 then 17275
If Nifty50 is sustained below 16940 the bear run will continue and be ready to retrace the level of 16900 & 16800.
If Nifty50 breaks and closes below 16850. This will lead to a further fall up to 16575. The current trend is to sell on rising
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.
Trade closed: target reached:
S1 to BC upward 117 points movements then BC to near S2 200 points downward movements.