Given:
NIFTY 50 : P/E = 34.73 :(
STOCH RSI = OVERBOUGHT :(
Nifty 50 is currently all time high. :)
Trend-line Resistance is at near 13200 level and also GANN Static level is at 13000 - 13225.
Trend-line support is at near 12460 level
Also noted, there is a support zone at same 12460 level on Weekly time frame, which makes it a strong support level.
MY ANALYSIS :
NIFTY50 may immediately touch 13100 -13200 level and retrace back to near 12460 - 12500 level and then goes up and move in a Channel.
NIFTY 50 : P/E = 34.73 :(
STOCH RSI = OVERBOUGHT :(
Nifty 50 is currently all time high. :)
Trend-line Resistance is at near 13200 level and also GANN Static level is at 13000 - 13225.
Trend-line support is at near 12460 level
Also noted, there is a support zone at same 12460 level on Weekly time frame, which makes it a strong support level.
MY ANALYSIS :
NIFTY50 may immediately touch 13100 -13200 level and retrace back to near 12460 - 12500 level and then goes up and move in a Channel.
Commento:
NIFTY STILL MOVING IN THE CHANNEL.
