Nifty Weekly analysis : possible moves
Nifty trading at 11914. Looking positive.
Many were assuming fall after doji formed on 08 Oct 20.
But, as of now nifty is looking good.
1. First resistance is 12000-12050 both on chart & psychological.
Slight profit booking may be seen if reaches there.
2. If goes up next resistance are 12250, 12400
3. If profit booking comes at 12000-12050, it may retraces to 11850-11800 again
4. It has very less probability that nifty breaches 11800
but we should consider this point as well. If breaches 11800, next support at 11600
Many were assuming fall after doji formed on 08 Oct 20.
But, as of now nifty is looking good.
1. First resistance is 12000-12050 both on chart & psychological.
Slight profit booking may be seen if reaches there.
2. If goes up next resistance are 12250, 12400
3. If profit booking comes at 12000-12050, it may retraces to 11850-11800 again
4. It has very less probability that nifty breaches 11800
but we should consider this point as well. If breaches 11800, next support at 11600
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