Let us look into the previous session’s market movement and expectations moment from current levels to either side sustained above or below current levels.
CURRENT LEVELS: The Nifty50 opened with a gap-up of +32.5 points and closed at -62.55 points volatility seems to be 130 points. Formed a Bearish candle in the daily chart.
The illustration of the 15-minute chart opened above pivot Level 18179 which was today’s high. Unable to sustain the above level fell 114 points. Then took support from there and recover 34 points then again fell 54 points to today’s low of 18048, again recovered 47 points, finally fell 22points, and closed to 18082.
Today’s total movements were around 271 points.
ONE-DAY LEVELS: The Fib retracement levels are drawn for the Daily chart the support and resistance levels are as follows for tomorrow’s (03-11-22) trades.
Resistance:
R3-18233, R2-18178- & R1-18134.
Pivot & CPR:
P- 18103, BC- 18093 & TC 18113.
Support:
S1-18073, S2-18035 & S3-17973.
If Nifty50 is sustained above 18120 the bull run will take place and move upwards, ready to retrace the level of 18175 & 18230.
If Nifty50 is sustained below 18040 the bear run will continue and be ready to retrace the level of 17975 if breaks this level further free fall till 17850.
So, we must be very careful to watch the above levels to do successful trade.
Disclaimer: Not SEBI registered advisers. It is my analysis of my experience. You may consult with your financial adviser for your action.
CURRENT LEVELS: The Nifty50 opened with a gap-up of +32.5 points and closed at -62.55 points volatility seems to be 130 points. Formed a Bearish candle in the daily chart.
The illustration of the 15-minute chart opened above pivot Level 18179 which was today’s high. Unable to sustain the above level fell 114 points. Then took support from there and recover 34 points then again fell 54 points to today’s low of 18048, again recovered 47 points, finally fell 22points, and closed to 18082.
Today’s total movements were around 271 points.
ONE-DAY LEVELS: The Fib retracement levels are drawn for the Daily chart the support and resistance levels are as follows for tomorrow’s (03-11-22) trades.
Resistance:
R3-18233, R2-18178- & R1-18134.
Pivot & CPR:
P- 18103, BC- 18093 & TC 18113.
Support:
S1-18073, S2-18035 & S3-17973.
If Nifty50 is sustained above 18120 the bull run will take place and move upwards, ready to retrace the level of 18175 & 18230.
If Nifty50 is sustained below 18040 the bear run will continue and be ready to retrace the level of 17975 if breaks this level further free fall till 17850.
So, we must be very careful to watch the above levels to do successful trade.
Disclaimer: Not SEBI registered advisers. It is my analysis of my experience. You may consult with your financial adviser for your action.