Nifty Fibonacci Retracement
Nifty Fibonacci Retracements from 5585-5777 are drawn in above chart,Major support at 50% retracement at 5680 and Resistance at 5703.
Nifty Fibonacci Fans
As discussed earlier Fibo Fans helps in finding potential tops and Bottom of market from short term prospective. If we see the chart closely Nifty has formed a swing top at 5815 as discussed in previous week analysis.Now NS has support at 5660 which is also 61.8% retracement or Golder Ratio.
Nifty Weekly Chart
Nifty was down by 0.2% WoW basis, and formed a weekly gravestone Doji candlestick.Support at 5660 and Resistance at 5715
Bounced exactly from Support of trendline
Nifty Monthly Chart
Close above 5217 is bullish for market for rest of year.Support on Monthly charts comes at 5537 and resistance at 5715.
Nifty Trend Deciding Level:5715
Nifty Resistance:5752,5777 and 5815
Nifty Support:5680,5645 and 5585
Levels mentioned are Nifty Spot
Let me go by Disclaimer these are my personal views and trade taken on these observation should be traded with strict Sl
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