Hi traders,
This post is a supportive post for our blog post, NIFTY JAN UPDATE
Please do not continue with this post without reading the full chain of articles starting from here.
We have always stayed adrift from the use of any indicator stuff but the request from our visitors & clients to use indicators as a supportive factor while publishing psychological & mathematical analysis, tends us to use them here!
NIFTY WEEKLY ANALYSIS CONFIRMATION
The blog post had already given a detailed info up on it and the target estimated would be either .618/.786 A and therefore, we can have the confirmation based on the MA's and especially the 50 SMA is at the area of 7540-7500 levels & could act as a supp
ort.
NIFTY SHORT - TERM ANALYSIS CONFIRMATION
The MA's 50 & 100 in weekly charts provide a narrowed range for the asset and the 100 SMA will be a strong resistance for NIFTY at the areas of 8200-2850 areas
Therefore, there exists a possibility that NIFTY could reverse from 38.2 rather than moving to 50%R.
Be cautious about it. count the internal sub-structures in H4 charts!
Happy Trading!
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