As discussed earlier Fibonacci fan helps in finding potential tops and Bottom of market from short term prospective. If we see the chart closely with Fibonacci fans 5930-5945 is level of resistance.
Nifty Weekly Chart
Nifty was up by 4.5% WoW basis, and bounced from trendline support of rising trendline. Weekly High of 5885 will continue to act as strong resistance and 5931-5945 will act as supply zone.
Close above 5217 is bullish for market for rest of year.Support on Monthly charts comes at 5697 and resistance at 5945.
Nifty Trading Levels
Nifty Trend Deciding Level:5885
Nifty Resistance:5945,6025 and 6069
Nifty Support:5825,5771 and 5720
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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