Hi,
The Nifty50 opened a Flat +8 points and closed -207 points with a volatile of 259 points.
Illustrate the 15-minute chart, opened 17102 and went up to today’s high of 17114.65 touch the S1level, N50 was not sustained this above level, it’s got 4th time resists this level then started moved down wards to 16988 level at CPR- BC point took support moved upward 112 points till at CPR TC, again failed then moved down wards to today’s low 16856 below S1, finally settled bellow S1 16887.
Today’s swing was around 372 points.
The Fib retracement levels are drawn for the Daily chart, the support and resistance levels are as follows for tomorrow’s (04-10-22) trades.
Resistance:
R3-17212, R2-17090- & R1-17014
Pivot & CPR:
P- 16952, BC- 16919 & TC 16985
Support:
S1-16891, S216804 & S3-16693
If Nifty50 is sustained above 16950 the bull run will take place and moves upwards further ready to retrace the level of 17000, 17100 then17200
If Nifty50 is sustained below 16850 the bear run will continue and be ready to retrace the level of 16800, 16690. If below 16690 then free fall till 16400 (Earlier gap up to be filled)
So, we must be very careful to watch the above levels and do successful trade.
Disclaimer: Not SEBI registered advisers. It is my analysis of my experience. You may consult with your financial adviser for your action.
The Nifty50 opened a Flat +8 points and closed -207 points with a volatile of 259 points.
Illustrate the 15-minute chart, opened 17102 and went up to today’s high of 17114.65 touch the S1level, N50 was not sustained this above level, it’s got 4th time resists this level then started moved down wards to 16988 level at CPR- BC point took support moved upward 112 points till at CPR TC, again failed then moved down wards to today’s low 16856 below S1, finally settled bellow S1 16887.
Today’s swing was around 372 points.
The Fib retracement levels are drawn for the Daily chart, the support and resistance levels are as follows for tomorrow’s (04-10-22) trades.
Resistance:
R3-17212, R2-17090- & R1-17014
Pivot & CPR:
P- 16952, BC- 16919 & TC 16985
Support:
S1-16891, S216804 & S3-16693
If Nifty50 is sustained above 16950 the bull run will take place and moves upwards further ready to retrace the level of 17000, 17100 then17200
If Nifty50 is sustained below 16850 the bear run will continue and be ready to retrace the level of 16800, 16690. If below 16690 then free fall till 16400 (Earlier gap up to be filled)
So, we must be very careful to watch the above levels and do successful trade.
Disclaimer: Not SEBI registered advisers. It is my analysis of my experience. You may consult with your financial adviser for your action.