Nifty 50 is at an Inflection point. 22,513 is a very strong weekly support. By friday, if we get a bounce and close above 22,513. We can anticipate a recovery till 23,200 zone.
Refer chart for easy understanding
Trade closed: stop reached
The idea was a fake down only until 22400-300 and then recover immediately, but it traded fair amount of time below 22500 and recovered above 22500 on Friday. Moving forward, two levels to watch out for bullish trade are 22,880 and 23,100. if we get a close above these two levels, we can see continuation of bullish move. Else, 21,500 to be tested in the coming weeks.
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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.