Nifty - Re-test of 10,550 level maybe coming soon

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The 10.4 K region has been a swap zone for Nifty and has been tested multiple times in the past few days.
Yesterday also Nifty got rejected from the same area but today Nifty has broken out of that zone and has reclaimed it as support area again.
If we hold that area tomorrow then we can see a retest of the 10,550 region again (which is also the 0.618 level on the fib) and maybe we would be able to break that zone in this second re-test.
A break above 10,550 would be bullish and we can then see higher levels in the near future.
On the contrary, if Nifty breaks below the 10.4K region again and stays below it, then it could lead to further drop in Nifty.

Please note: These are my views and not trading advice. Please consult your financial adviser before taking any trading decision.

DAILY RSI
NIFTY - 64 ( bullish / neutral zone)

“In investing, what is comfortable is rarely profitable.” - Robert Arnott

註釋