If the up move has started from 4988 then the current rise to 5124.8 should not retrace more than 61.8% or go below 5040.
Yesterday the rise reached the 200 day SMA at 5124. Now if the market sustains this level and move up then it is +ve and a move below will weaken the position. A move below 5076, pivot level will strengthen the down move and can test 4951/4821 50% & 61.8% retracement for the rise from 4531 to 5630.
Nifty:
OI:
Yesterday the rise reached the 200 day SMA at 5124. Now if the market sustains this level and move up then it is +ve and a move below will weaken the position. A move below 5076, pivot level will strengthen the down move and can test 4951/4821 50% & 61.8% retracement for the rise from 4531 to 5630.
Nifty:
OI:
No comments:
Post a Comment