Support range for today is 5780-5850 which has been broken down in early trades today. Next crucial levels are as follows:-
1- Next support range- 5580-5640
2- 61.8% Fibonacci retracement level- 5727
61.8% Fibonacci retracement level is understood good retracement level also and should be watched for confirmation of support at this level. Keep following lessons in mind:-
1- Bottom fishing in bear markets is always injurious to wealth.
2- Buying in bear markets is like catching falling knief and resulting one'sown hand full of one's own blood.
Just watch above mentioned levels and if Nifty get support near or above levels then may start buying,initially for very short term and positions should be increased after confirmations of supports strengthening.
ॐ ह्रीं श्रीं लक्ष्मीभयो नमः॥
