NIFTY - SIMPLE ANALYSIS FOR 18 may 2020

This is my simple analysis for nifty for the nezt trading session. The current downtrend is nothing but a retracement after a nice uptrend which is clear from the charts. THe Fibinacci retracement tool very well explains the potential reversal points for nifty. In most of the cases the reversal point is 38.2% which if broken then nifty can be seen reaching 8700 price levels. But for now there is strong possibility of a reversal from 38.2% point.

PLEASE NOTE - This just expresses my opinion and is not to be taken as an advice