A Triple digit fall on Triple Witching Day

It has been a year since the horrific Mumbai terror attacks, which claimed nearly 200 lives and injured 300 others. I pay my tribute to NSG Commandos and Mumbai Police Jawans who died in this attack last year. Thank you Jawans for fighting it out for around 60 hours to save our lives. It is because of You all only that we are lucky enough to be alive today

Jai Hind !!!






Nifty View: Markets took support from the same levels which i mentioned yesterday, each time it took support it bounced back and then fell again. As world markets including Europe closed down deep in the red, Europe as much as 3 % down and Dow Jones Futures is trading down a couple of hundred points, it is evident that there would be a weak opening in the Indian Stock Markets tomorrow. So the big question is that where will the markets find support?

The answer is that these Fibonacci retracements will help a lot.

5138-- The recently made high
4538-- The recently made low
24% - 4996 ( from where it took support from today )
38% - 4908
50%- 4838
61.8%-- 4767


The first obvious support is 4970 which is 50 dma, then comes 4935 around which last time we bounced back sharply, then comes 4838 which is 50 % retracement of the entire rise. The last , final and major support is 4767 which is 61.8 % retracement level of the entire rise. 61.8% retracement level + support from trendline ( Red colour ) = 4760



HavE A nice trading day!!!

Regards

Ankit