Let us look into the previous session’s market movement and expectations moment from current levels to either side sustained above or below current levels.
CURRENT LEVELS: The Nifty50 opened with a gap-down of -114.5 points and closed at -30.15 points volatility seems to be 147 points. Formed a Bullish with an upper shadow candle in the daily chart.
The illustration of the 15-minute chart opened above at S3 Level 17968 which was very near to today’s low 17959. Then took support from there and recover 147 points in 18106 which was today’s high, then again fell 101 points, again recovered 45 points, again fell 42 points, and again recovered 60 points finally fell 20 points, and closed to 18053
Today’s total movements (Very, Very High) were around 415 points.
ONE-DAY LEVELS: The Fib retracement levels are drawn for the Daily chart the support and resistance levels are as follows for tomorrow’s (04-11-22) trades.
Resistance: R3-18187, R2-18124- & R1-18074.
Pivot & CPR: P- 18039, BC- 18033 & TC 18046.
Support: S1-18004, S2-17962 & S3-17892.
Narrow gap CPR formed. So, there are chances for one-side moments expected tomorrow.
If Nifty50 is sustained above 18046 the bull run will take place and move upwards, ready to retrace the level of 18075,18125 &18100.
If Nifty50 is sustained below 18000 the bear run will continue and be ready to retrace the level of 17960 if breaks this level further free fall till 17850.
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.
CURRENT LEVELS: The Nifty50 opened with a gap-down of -114.5 points and closed at -30.15 points volatility seems to be 147 points. Formed a Bullish with an upper shadow candle in the daily chart.
The illustration of the 15-minute chart opened above at S3 Level 17968 which was very near to today’s low 17959. Then took support from there and recover 147 points in 18106 which was today’s high, then again fell 101 points, again recovered 45 points, again fell 42 points, and again recovered 60 points finally fell 20 points, and closed to 18053
Today’s total movements (Very, Very High) were around 415 points.
ONE-DAY LEVELS: The Fib retracement levels are drawn for the Daily chart the support and resistance levels are as follows for tomorrow’s (04-11-22) trades.
Resistance: R3-18187, R2-18124- & R1-18074.
Pivot & CPR: P- 18039, BC- 18033 & TC 18046.
Support: S1-18004, S2-17962 & S3-17892.
Narrow gap CPR formed. So, there are chances for one-side moments expected tomorrow.
If Nifty50 is sustained above 18046 the bull run will take place and move upwards, ready to retrace the level of 18075,18125 &18100.
If Nifty50 is sustained below 18000 the bear run will continue and be ready to retrace the level of 17960 if breaks this level further free fall till 17850.
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.