An impulsive movement has been witnessed in Nifty from its top of 9273.90 to its recent low of 9075.15. The movement that the market is witnessing from the low of 9075.15 to 9218.55, today's high until this time while writing this post, looks to be more of corrective nature in response to its fall from 9273.90 to 9075.15.
Besides, the market, few days before, has witness sharp fall from the level of 9217.90 on 18/04/2017. Secondly, the 76.4% Fibonacci Retracement level comes around 9227. So, market may see strong resistance anywhere between 9218-9227.
Besides, the market, few days before, has witness sharp fall from the level of 9217.90 on 18/04/2017. Secondly, the 76.4% Fibonacci Retracement level comes around 9227. So, market may see strong resistance anywhere between 9218-9227.
Made High @9225.40
Closed @9217.95