Nifty (4953)
As mentioned yesterday Nifty has formed double bottom at 4840 level on daily chart and formed “Small black candle” with relatively lower shadow which interprets markets closed at its low and selling pressure may arrive in coming days. As per Fibonacci study next support formed at 4935 level which is a 38.2 % Retracement level of current impulse wave. Daily momentum indicators are in bear grip. over all scenario remains more murky avoid bargain buying at this point of time.
Intraday Support:-4935-4900
Intraday Resistance:-4972-4992
As mentioned yesterday Nifty has formed double bottom at 4840 level on daily chart and formed “Small black candle” with relatively lower shadow which interprets markets closed at its low and selling pressure may arrive in coming days. As per Fibonacci study next support formed at 4935 level which is a 38.2 % Retracement level of current impulse wave. Daily momentum indicators are in bear grip. over all scenario remains more murky avoid bargain buying at this point of time.
Intraday Support:-4935-4900
Intraday Resistance:-4972-4992
