Weekly nifty analysis!
Waiting for Nifty to break out this week for taking fresh long positions. It has been resisted multiple times and has created a trendline. A strong breakout will lead to continuation of the bull run. While bank nifty has already given breakout, hoping nifty does the same.
The down move from the all time high, is just a retracement when looked on a higher timeframe. It has tested the important 38.2% fibo line but could not break it. Hence, a continuation of upward movement is expected.
Important levels for the upcoming week:
Resistance at:
17665
17750
17860
Support at:
17320
17150
16928
The down move from the all time high, is just a retracement when looked on a higher timeframe. It has tested the important 38.2% fibo line but could not break it. Hence, a continuation of upward movement is expected.
Important levels for the upcoming week:
Resistance at:
17665
17750
17860
Support at:
17320
17150
16928
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