Nifty had a solid run last week, however, there are several resistances going forward. Nifty might struggle going ahead in the coming week. It appears that the zone of 23500-23800 is a strong resistance zone. Will it crossover, consolidate or collapse?
Previous Daily swing high=23807, Equal Rally distance =23559,
38.2% retracement= 23612, 50% Retracement=24121, 200 DMA=24068
Previous Daily swing high=23807, Equal Rally distance =23559,
38.2% retracement= 23612, 50% Retracement=24121, 200 DMA=24068
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This worked too, Nifty hit around 23850 levels and retraced. It could not go beyond 23800 for the entire week.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.