Nifty Daily chart View
- Retracement Seen of Last Strong Fall from Lifetime High to 11614 Low
- tested 61.8%=12118 Retracement Level and Closed below that in last session
- Also Price Rejection seen From Daily chart Resistance zone: 12114-12169
- Also Facing 50DMA=12118 as Med term Resistance
- Sustain above this zone may lead to 12240-12360-12400 Levels or New High
- but Reversal from these Levels may drag Nifty again towards 11980-11920-11800 Levels downside
- Daily chart shows Near Overbought and chances of some profit booking
OI Data: 12000 Support, 12200 Resistance
Disclaimer: All the View/Study Given from Arrowmoney are only for Educational study purpose. Consult your financial adviser before making any investment decision.