After the yesterday's disappointment from RBI in monetary policy today market try to digest all such negative & try to bounce back . The Nifty-50 index closed at 5619.70 with gain of 22 points & the other end bank nifty closed 12269 up by 66 points.
Now what next .... Nifty may face strong supply in the 5630-5650 range, If nifty cross 5650 with good volume so we can see a strong short covering rally that can push the market to 5780-5800 level.If you decide to short nifty your first target on the down side is 5540-50 that is the major support for nifty.
Other factor which you can't ignore :
Track Nifty-50 Stock Daily Fibonacci Retracement Level
Now what next .... Nifty may face strong supply in the 5630-5650 range, If nifty cross 5650 with good volume so we can see a strong short covering rally that can push the market to 5780-5800 level.If you decide to short nifty your first target on the down side is 5540-50 that is the major support for nifty.
Other factor which you can't ignore :
- Current Nifty PCR (put call ratio) placed at 1.02 (Download PCR Calculator Free:)
- Bank Nifty PCR placed at 0.80
- Highest Call Open Interest in Nifty On 5900 Strike Change 414450
- Highest Put Open Interest in Nifty On 5300 Strike Change 264050
| Method | R4 | R3 | R2 | R1 | PP | S1 | S2 | S3 | S4 |
|---|---|---|---|---|---|---|---|---|---|
| Simple Pivot | - | 5676.4 | 5650.4 | 5635.1 | 5609.1 | 5593.7 | 5567.7 | 5552.4 | - |
| Woodies Pivot | - | 5681.7 | 5653.1 | 5640.4 | 5611.7 | 5599 | 5570.4 | 5557.7 | - |
| Demark Pivot | - | - | - | 5642.7 | - | 5601.4 | - | - | - |
| Camarilla Level | 5642.4 | 5631.1 | 5627.3 | 5623.5 | 5615.9 | 5612.1 | 5608.3 | 5597 | |
| Fibonacci Retracement | 5661.1 | 5645.3 | 5640.4 | 5635.5 | 5609.1 | 5603.9 | 5599 | 5594.2 | 5578.4 |
Track Nifty-50 Stock Daily Fibonacci Retracement Level
