If nifty has exhausted the down move for a while, where does it go from here?
The previous rally was 1594 points, this sets a target of 23559 for nifty if an equal move was to take place. This also coincides with the .382% retracement of the entire down move which is placed at 23612.
Equal move of previous rally at 23559. Retracement 38.2% at 23612. Highest close of the last decline is at 23696. This gives us a confluence zone of 23600-23700.
The previous rally was 1594 points, this sets a target of 23559 for nifty if an equal move was to take place. This also coincides with the .382% retracement of the entire down move which is placed at 23612.
Equal move of previous rally at 23559. Retracement 38.2% at 23612. Highest close of the last decline is at 23696. This gives us a confluence zone of 23600-23700.
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Disclaimer
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.