after the fantastic budget rally, nifty took support at the trend as shown in the chart on Friday.
levels to watch for if friday low breaks
14730 = fib 38.2% retracement of the post-budget rally, good pivot support
if 14730 breaks 14513 = 50% retracement, pivot support, breakaway gap support
if 14513 breaks, 14296 = 61.8% retracement, gap filling, very good pivot points support
resistance = 15080, 15150, 15250
levels to watch for if friday low breaks
14730 = fib 38.2% retracement of the post-budget rally, good pivot support
if 14730 breaks 14513 = 50% retracement, pivot support, breakaway gap support
if 14513 breaks, 14296 = 61.8% retracement, gap filling, very good pivot points support
resistance = 15080, 15150, 15250
Commento:
short only after Friday's low breaks