Fibonacci number of 38.2% is going to be the resistance for nifty up-trend, nifty may suffer a correction wave and retrace to a level of 8600. whereas if in 21st April if it crosses the level of 9350 and closes around this number it will further follow the uptrend to the Fibonacci level of 50%. however, MACD is a helpful chart to predict the reversal of the trend.
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Nifty has gapdown opening and could not cross the fibonacci level or 38.2%. Now the lower level support is 8960 once crosed downward with again go deep. However, if it croses the level of 9060 then this will act as support level.
Now remembet previous support will act as resistance for upward movement for nifty
Now remembet previous support will act as resistance for upward movement for nifty
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