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Niftymonthly

Monthly closing of Nifty was not bad. (Monthly Closing Update). Monthly closing of Nifty was not bad and above 15500 levels despite spreading global gloom. However it does not show we are out of troubled waters. All is well till we are above 15500 levels. Below 15500 levels there are two major supports. One is recent bottom near 15180 levels. If this is by chance taken down in July we will be left with a major strong Fibonacci support near 15038 as you can see in the chart. Below 15038 we have major supports at 14485 (likely bottom in view of many experts) or 50 months EMA near 13571. On the upper side major resistances remain at 15800-950 range and above it 16300-400 range. Above 16300-400 range we can move swiftly to 16800 or even 17300 in the medium term.
NSE:NIFTY
by Happy_Candles_Investment