Where is Nifty 50 Index Heading? On Short-term Basis

If you are a day trader, then it doesn’t matter where the Nifty 50 Index is heading.

You only need good volatility (It’s there) & well-tested Intraday methods like our students use to trade.

But if you are a swing trader, then.

On the Daily chart, Index today corrected from the Crucial rhythmic projected resistance level.

The first downside target from the Rhythmic resistance level achieved today in Intraday.

nifty 50 index daily chart

If Nifty bears push harder. 

The next downside potential targets will be around 15150/15050/14900 levels. And from there, Nifty can hit a new high around 15700 levels & more.

On the higher end.

Nifty Bulls need strong sustainability above 15400 levels to rise straight from here with no further downside.

IF that happens, then.

Soon we may see Nifty reaching around 15700 levels (crucial projected rhythmic level).

Note: The above levels are only for study. Not a Buy/Sell advice.

Leave a Comment