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 5945-5963 is level of resistance, and 5841 is level of support Nifty made a low around that level and bounced back.
Nifty Weekly Chart
Close above 5865 is bullish for market for rest of year, Support on Monthly charts comes at 5806 and resistance at 6073.
Nifty Trading Levels
Nifty Trend Deciding Level:5977
Nifty Resistance:6048,6107 and 6153
Nifty Support:5951,5920 and 5856
Levels mentioned are Nifty Spot
Read the Weekly Analysis Part I
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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