In Session Nifty Observation –Retraced by 50 %

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Some Nifty Fut Observations:-

• As the chart shows Nifty fut is Retraced at 50% from Yesterday’s High and given bounce from Exactly Near 50% retracement.

 

• Now if Nifty able to break today’s high and sustain above it for 10-15 min’s then Nifty Fut can run towards of 5880-5907 can be expected.

 

• Where as on the downside 61.8 % retracement level can be watched for major SUPPORT area which is 5759 at present.

Another Chart Below show One more Retracement Idea:-

Chart above itself is self explanatory:-

• It shows that NIFTY FUT has retraced till 38.2% of the Fall from 5867 to 5776 which is around 5811 and after making 38% selling pressure came and it again came down.

 

• Now here also we have to watch keenly 61.8 % of the Fall which is 5832 at present which if taken out decisively then NIfty Fut can march towards 5880-5907 levels.

For Further Reading,

Nifty Levels/View, Nifty Technicals