BN Weekly summary 5th May 2024

6 thg 5

#Weekly Summary BN 5th May 2024

BN 48923 -> Last weekly summary i had clearly mentioned that Strong support is from 48680 to 48477 and we made a low of 48659.7 and closed at 48923

Now look at the Chart and you will see that 48677.6 is the 38.2% retracement for the Rally from 46579.05 to 49974.75 . This retracement support matched with our strong support level

Now If at all there is a fall happening to 48276 to 48005 levels. (0.5 to 0.58 on Fibo) , That should never be missed with closing basis SL of 47876 which is 0.618 levels.

If Fridays low holds 48677 then we shall get to 49780 to 50000 levels again and a close above it we shall move to 50594 to 50701 where we shall see a reaction and finally cross that as well and move to 51236 as already mentioned last week

So Friday was definitely an opportunity to add at 48680 levels and if at all there is further fall to 48276 to 48005 levels. (0.5 to 0.58 on Fibo) , That should never be missed with closing basis SL of 47876 . For now Longs SL can be trailed to 48636 Daily closing basis Which is Prev ATH dt 28th Dec 2023