Fibonacci Levels and MACD

Weekly Chart

FIB Weekly

Fibonacci Levels showed Nifty faced Resistance at 9630

MACD is showing a potential Bearish Crossover


Daily Chart


Nifty closes at 5 day low, breaks Support Trendline it respected since the low of 7887.

Fibonacci Arcs

Hourly Chart

nifty chart

Nifty Support seen between 9550-9560. Break with volumes below this level can take Nifty to 9505 mark.

Only a break above 9640 can take Nifty near 9700. Close above 9705 can see new highs.

Moving Averages

Nifty MA

Nifty closed below 200-Moving Average of 9577 at 9575, thus, turning bearish

Possible Scenarios

Go Long only after Nifty crosses 9706 on a closing basis – Targets 9800, 9900

Go Short below 9550 on a closing basis – Targets 9350, 9280

(P.S – Nifty almost hit the 1st target given on 21st)