Hi,
The Nifty50 gap down opened -50 paints and closed -98 points with volatile of 178
points. Illustrate the 15minuts chart, from opening to 9:30 AM reached high of 17838 (CPR TC) then immediate fall from there to near S2 level 17738 within 45 minutes. It took support of S2 bounce back to CPR BC act as Resistance from there again fall to near S3. Again, took S3 Support bunce to upward cross the S1 and not Sustain again bunce to down ward and closed after cross the R2. Today most of the traded done in between Pivot to S3 2 bounces in upward and 3 bounces downward. If you see the market moment up and down around 550 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-R3-17915,R2-17840 & R1-17781
Pivot – 17740, BC- 17729 & TC 17751
Support – S1-17700, S2-17648 & S3-17565.
If Nifty50 sustained above 17785 the bull remains and move upwards further17840, 17915 then 18000
If Nifty50 sustained bellow 17640 it will turn to bear side and ready to retrace the level of 17565 then 17400. If close break below 17400 heavy selling pressure will occur.
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 -50 paints and closed -98 points with volatile of 178
points. Illustrate the 15minuts chart, from opening to 9:30 AM reached high of 17838 (CPR TC) then immediate fall from there to near S2 level 17738 within 45 minutes. It took support of S2 bounce back to CPR BC act as Resistance from there again fall to near S3. Again, took S3 Support bunce to upward cross the S1 and not Sustain again bunce to down ward and closed after cross the R2. Today most of the traded done in between Pivot to S3 2 bounces in upward and 3 bounces downward. If you see the market moment up and down around 550 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-R3-17915,R2-17840 & R1-17781
Pivot – 17740, BC- 17729 & TC 17751
Support – S1-17700, S2-17648 & S3-17565.
If Nifty50 sustained above 17785 the bull remains and move upwards further17840, 17915 then 18000
If Nifty50 sustained bellow 17640 it will turn to bear side and ready to retrace the level of 17565 then 17400. If close break below 17400 heavy selling pressure will occur.
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.