Nifty 50 Daily Chart Analysis | Price Action
Nifty is forming a cluster of both a supply zone and Fibonacci retracement level from 17320.20 to 17408.45. Nifty rejected cluster and close below that level on the Last trading day.
But if you look at the trend line, Nifty has broken the bearish trend. So it is difficult to know whether the market will respond to the cluster or break out of the trendline.
That's why the level from 1732.20 to 17408.45 will be important for us.
One can see Bullish run on its breakout and Bearish run on its rejection.
Thank you
But if you look at the trend line, Nifty has broken the bearish trend. So it is difficult to know whether the market will respond to the cluster or break out of the trendline.
That's why the level from 1732.20 to 17408.45 will be important for us.
One can see Bullish run on its breakout and Bearish run on its rejection.
Thank you
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