Nifty was finally able to break 61.8% fibo level and it seems its getting ready for next move. Let see what chart is suggesting:
After 61.8% retracement , Nifty corrected till 8087 which is almost 50% retracement beyond which was able to reach again 61.8% retracement. If this level exists for 1-2 sessions then expect a movement till 78% now.
Moreover, trendline resistance is near 8380-8400 levels and will be interesting to watch if certain levels are taken out or not.
Nifty is approaching resistance and Dollar is approaching support. Lets have look at Dollar chart now:
On the other hand, Dollar is approaching support zones. This means next 8-10 sessions very important to decide short term trend of market.
Keep a close watch. :)
NOTE: Above charts are shared for education purpose only and these are not some BUY/SELL tips.
After 61.8% retracement , Nifty corrected till 8087 which is almost 50% retracement beyond which was able to reach again 61.8% retracement. If this level exists for 1-2 sessions then expect a movement till 78% now.
Moreover, trendline resistance is near 8380-8400 levels and will be interesting to watch if certain levels are taken out or not.
Nifty is approaching resistance and Dollar is approaching support. Lets have look at Dollar chart now:
On the other hand, Dollar is approaching support zones. This means next 8-10 sessions very important to decide short term trend of market.
Keep a close watch. :)
NOTE: Above charts are shared for education purpose only and these are not some BUY/SELL tips.
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