Recap of 8th Analysis and trade:
Nifty was supported @ 19725 and on breakout of 19740 - reached a high of 19867 - 78.2% retracement and cluster resistance and closed @ 17819.
Trades taken:
Bought 19700 CE on breakout of 19740 and squared off @ nifty spot 19850 levels - one good trade done
NIFTY ANALYSIS FOR 11TH SEPT 2023:
Prev Day:
High - 19867
low - 19727
Close - 19819
Nifty has reached the cluster resistance & 78.2 Fibo ratio @ 19687. RSI charts shows -ve divergence.
A pause likely till 19870 is taken out. Fibo retracements to be watched below 19800.
INTRADAY LEVELS:
Bullish above 19870 towards Nifty prev high 19991
Bearish if resisted @ 19870 and below 19800 - drag towards 19720 levels.
PRICE ACTION LEVELS:
19870
19795
19740-19725
