Update - 0920 hours 15th March 2019.....
Bulls managed to take out the 78.6% retracement quite convincingly, a sustained close above that would take Nifty near the Life Time highs... Immediate hurdles for bulls - 11470-11530-11610
Cheers
Hi All,
Nifty, currently trading near the 11350-11350 mark.
As mentioned in the earlier posts, 11350 was a resistance on charts, and now the range of 11350-11400 is the last ray of hopes for bears, in case they want to snatch control.
The 78.6% retracement of the entire fall from 11760 to 10000, is near 11384 mark and would act as the last hurdle for bulls (See the image) below. If bulls manage to cross the same, and sustain above it for a day or two, I feel we are set for a new Lifetime high for the index. On the contrary, this would be the penultimate chance for bears to take control. However, 11250-11270 levels remain crucial for bulls and they need to defend it to go up...
Cheers
Hrishi
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