Nifty 50 levels for last swig high and low
Hi,
The Nifty50 resent swing high 18114 on 4th April 22 and low 15183 on 17th June 22. If draw the Fib retracement levels for the above high and low the output of support and resistance levels are as follows.
Resistance - R3-18114, R2-17487 & R1-16994.
Pivot – 16649.
Support – S1-16303, S2-15875 & S3-15183.
The above levels have been retraced in upward moment since 20th June 22 low 15191 to high 18096 on 15th Sep 22. Now the Nifty in not having enough strength to Move up because of gobble cues.
If Nifty50 sustained above 18100 the bull remains and move upwards further 18350 and 18600.
If Nifty50 sustained bellow 17450 it will turn to bear side and ready to retrace the level of 17000, 16650.
If nifty50 sustained bellow 16650, then further selling pressure will be created and may again retrace the level of 16300 ,15875.
So, we have to be in very careful to watches the above levels and do the successful trade
with regards
V. Saravanan
Disclaimer : Not SEBI registered advisers . It is my won analysis by my past experience . You may consult with your finance adviser for your action .
The Nifty50 resent swing high 18114 on 4th April 22 and low 15183 on 17th June 22. If draw the Fib retracement levels for the above high and low the output of support and resistance levels are as follows.
Resistance - R3-18114, R2-17487 & R1-16994.
Pivot – 16649.
Support – S1-16303, S2-15875 & S3-15183.
The above levels have been retraced in upward moment since 20th June 22 low 15191 to high 18096 on 15th Sep 22. Now the Nifty in not having enough strength to Move up because of gobble cues.
If Nifty50 sustained above 18100 the bull remains and move upwards further 18350 and 18600.
If Nifty50 sustained bellow 17450 it will turn to bear side and ready to retrace the level of 17000, 16650.
If nifty50 sustained bellow 16650, then further selling pressure will be created and may again retrace the level of 16300 ,15875.
So, we have to be in very careful to watches the above levels and do the successful trade
with regards
V. Saravanan
Disclaimer : Not SEBI registered advisers . It is my won analysis by my past experience . You may consult with your finance adviser for your action .
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