For the comming week, nifty is seen to trade in the triangle as in the chart.
it bounced exactly from the 50% level according to fibonacci levels, and as long as 4321 is held, nifty is buy on dips., 1st tgt being 4446, where it will face resistence again at the upper trendline.
if nifty breaks 4321, all longs should be closed, where nifty might fall to 4220, below which big downside can come.
Overall, i dont expct big movement in the current scenerio, and i expct nifty to trade within the triangle.
as a positional trader, one can comfortably trade with these levels.
P.S - All spot levels
Regards
it bounced exactly from the 50% level according to fibonacci levels, and as long as 4321 is held, nifty is buy on dips., 1st tgt being 4446, where it will face resistence again at the upper trendline.
if nifty breaks 4321, all longs should be closed, where nifty might fall to 4220, below which big downside can come.
Overall, i dont expct big movement in the current scenerio, and i expct nifty to trade within the triangle.
as a positional trader, one can comfortably trade with these levels.
P.S - All spot levels
Regards
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