NIFTY has taken support at the fib 0.382 levels around 17600 mark intraday. It opened around those levels, and moves towards 17500 got rejected by bulls with heavy volume. The wide range between high and low on the hourly candle may just define the broad range for today, 17700 at the top, and 17500 at the bottom. Breaching levels on either side will decide next market move. I would still be bearish until 17900 is broken comprehensively.
A big support exists around 17400, so for the coming week, a 500 point range of 17400 to 17900 can be considered.
Disclaimer: I am not a SEBI registered investment advisor. All ideas discussed here are for personal record. Do not trade using these ideas.
A big support exists around 17400, so for the coming week, a 500 point range of 17400 to 17900 can be considered.
Disclaimer: I am not a SEBI registered investment advisor. All ideas discussed here are for personal record. Do not trade using these ideas.
