NIFTY ANALYSIS

 

 

Nifty had a sharp recovery from the low of 18345 towards 18500 + and has closed @ 18495.

An a,b,c  seems to have completed @ 18345  - retracing approx 61.8% retracement of 18133 – 18886.

 

PRICE ACTION:

Above 18520 – levels to watch as per fibo retracement – of the fall from 18886 – 18345.

 18550 – 38.2%

 18615 – 50%

 18670 – 61.8%

 

BELOW 1420 – and break of 18400 – nifty would be dragged towards 18300 levels.

SUPPORT AND RESISTANCE:

Nifty closed at 21 DMA @ 18495

10 DMA - 18639.

INTRADAY TRADE PLAN:

BUY ABOVE (BUY 18500 CAL) 18520 SL 15 MIN CLOSE BELOW 18500

SELL BELOW (BUY 18400 PUT) 18400 - SL 15 MIN CLOSE ABOVE 18425