Flashback
Huge volatility. The day can only be best described in those words.
Readers who bought nifty near long level would have made close to 40 points in long and those who shorted at short level would have made a paltry 20 points. Not an impressive performance there. Readers who bought SBI at 1850 would have made close to 25 rupees. However those who held on to SBI would have made a loss.
Tomorrow is marked by two key things
1) Fibonacci time cluster number 1 (See my weekend post on fibonacci time cluster here)
2) President's address
Market will be quite tricky to trade. Therefore i resist from giving bull level and bear level for tomorrow. There are no stock recommendations too. However for the benefit of readers who might be having overnight positions i am posting key support and resistance levels for
nifty. Readers can use these levels to book profit in their positions as the news unfolds. These levels can also be used for intraday trading if the trader is proficient in candlestick analysis.
Nifty support levels
4500, 4485,4450,4400,4370, 4330
Nifty Resitance Levels
4555, 4580,4610,4645,4675,4740
