Nifty 50 IndexShort
Nifty @ 17510.65
On 16 Feb, nifty made a all time high @15428. For next 4 months nifty consolidated before giving breakout. Sincethen niftyis in continuous up trend. If we put fibonachi from 15428.85 to 14149, which was the swing low, then 17510.65 is fibo resistance 2.618. According to my analysis, nifty should either consolidate at this level or show some corrections. Therefore, I'm suggesting to short nifty at this level.
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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.