Nifty 50 Analysis
I see the Nifty has broken the 61.8% of Fibonaaci level and getting more weak relatively.
The sad part is the candle formed today 28th Sep is a bearish engulfing.
There is a chance that it can bounce to test the 50% Fibonacci level tomorrow ( 29th Sep 2023) as a short covering move. It also have a chance to fall decisively and test 19450 - 19400 levels. We have to watch out. Fingers crossed
A Drama could happen - It has a chance to fall in the morning to test 19450 and then it could bounce back for a short covering rally tomorrow
The sad part is the candle formed today 28th Sep is a bearish engulfing.
There is a chance that it can bounce to test the 50% Fibonacci level tomorrow ( 29th Sep 2023) as a short covering move. It also have a chance to fall decisively and test 19450 - 19400 levels. We have to watch out. Fingers crossed
A Drama could happen - It has a chance to fall in the morning to test 19450 and then it could bounce back for a short covering rally tomorrow
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