Fibonacci retracement levels are highly used by professional traders, as these levels acts as support resistance. This tool just needs recent high (Swing High) and recent low (Swing Low) to plot retracement levels over the nifty future charts. Price action reacts to these levels in a very accurate fashion, you will see market finding support or facing resistance around these levels. Professional ... [Continue Reading]
Euro Makes Fresh 20 Months Low, Huge Selling Before Italian Bond Auction
Italian Bond auction is to be done today and ahead of event we have seen huge selling in Euro against US Dollar. There is still more uncertainty and concerns regarding Italian bond auction across European region. Selling on EURUSD was so intense that, pair has made fresh 20 Months low at 1.2847 falling by more than 50 pips in few minutes, and the pair is still under selling pressure. Any pullback ... [Continue Reading]
Stock Trading at Strong Support: Buy MCDOWELL-N Future near 694, Target 719
United Spirits Ltd, is trading near the strong support zone and we are expecting MCDOWELLS-N stock to bounce towards 719 level in 2 or 3 days. Stock is extremely oversold looking at 15 days RSI we see it at 27 level, hence a bounce at this support level is more likely to come out of oversold region and we have target for MCDOWELLS-N stock at 719 and then 726 levels. We will advice traders to buy ... [Continue Reading]