Nifty Analysis

Nifty analysis

Observations

Nifty respected the 9625 Fibonacci Level and made a U-turn

Falling since 3 days – showing strong momentum (Black Crow Trend confirmation)

Positional View

Sell @ Current Levels, Target – 8800; Stop Loss – 9700

Buy Only above 9709, Target – 9900 

Next round of Buying is expected as soon as Nifty enters the range of 8700 – 8900

Fibonacci Levels, 50 Day Moving Average Exponential (EMA) lies in that area.