Very important fibonacci retracement level for Nifty is arriving with ever increasing Trump tantrum and Indian defiance to toe US and EU line on Russian Crude and other trade practises. Market looks delicately placed at this juncture as investors fear that action from the West would undermine Indian growth story. The current fall can be utilized for shifting the balance of the portfolio towards goods that will be 100% made in India and will be consumed in India. For long term investors the current fall can be used to accumulate long term investment ideas with a horizon of 2 to 3 years.
Supports for Nifty remain at: 24438 (Important Fibonacci support), 24190 (Father line support, closing below this will enable bears to pull down Nifty towards next supports), 23832 (Next Fibonacci support), 23045 (Major Fibonacci support).
Resistance for Nifty remain at: 24896 (Mother Line Support), 25231 (Next Fibonacci resistance. A closing above this level will enable bulls to pull Nifty towards next trend line resistance), 25666 (Next Trend line resistance).
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
Supports for Nifty remain at: 24438 (Important Fibonacci support), 24190 (Father line support, closing below this will enable bears to pull down Nifty towards next supports), 23832 (Next Fibonacci support), 23045 (Major Fibonacci support).
Resistance for Nifty remain at: 24896 (Mother Line Support), 25231 (Next Fibonacci resistance. A closing above this level will enable bulls to pull Nifty towards next trend line resistance), 25666 (Next Trend line resistance).
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
Trade attivo
Market Outlook: Support and resistance levels remain the same. Let us see how market reacts to this new Tariff Tantrum by Trump. He has raised the Tariff further by another 25%. Resiliance of Indian markets will be tested as said earlier. Important levels to watch here will be 24438 and 24190. Till we stay above these 2 levels the chances of quick recovery once the things get sorted between the 2 nations are high. Once we close below Father line. The Bears will be in a mood to rejoice further. All eyes on market closing tomorrow and Friday.closing will be very important weekly closing again.Trade chiuso: obiettivo raggiunto
Market Outlook: As it was discussed here the Fibonacci level of 24438 saved the day today. As far as we get a closing above this level we are safe and chances of swift recovery are strong. Once we get a closing below this level or below 24190 (Father line) there will be a Bear run. Let us see what weekly closing we get tomorrow. Very important day tomorrow for Nifty and Sensex.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.