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61.8% retracement done in Nifty. 13811-13775 gap area acts as support. Markets can bounce.

Nifty cmp 13824. 

Nifty retraced 61.8% of previous wave. 

Nifty has gap area at 13811-13775 zone, this can acts as support zone.

Most probably market fall can stop here and fresh upmove can start from here.

Most of the stocks also at finishing stage of wave 4 correction, impulsive wave can begin soon in high beta stocks.

Be stock specific.

Levels to watch:

Move above 14000 positive indication for Bulls.

Move above 14230 bullish confirmation.

Bears active move below 13600.


Suryadev Bandari

Research Analyst.

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