In this article, the important level of Nifty 50 Analysis has been discussed
Nifty 50 Analysis
Currently, the Nifty 50 is in a Support area, in the previous week it was unable to close below the previous day’s candle although it is forming a lower low.
After hitting a Gap on the downside Nifty 50 regained upside movement. in the daily timeframe and closes above the previous day’s low which is a sign of strength.
After a long time down move it breaks a downward trendline on the upside and presently takes support at that trendline.
Daily time frame chart showing strength and buying opportunity from this support level.
Also, the Fibonacci Retracement level 23% is providing support.
The current resistance is 17655 if nifty stars trade above this level then a strong upside movement may start.
Trading methodology “PROFIT”
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