Price Range: 5152
Breakout Range: 15600 – 10448
A short reversal started from the 13110 levels.
MCX Cotton is a sellable script until it remains below 17000 for the target of 15800 – 15000.
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The first case had confirmed in China Wuhan city. But the current state will give you a shock.
Last updated: April 08, 2020, 12:17 GMT
Coronavirus Cases: 81,802
Deaths: 3,333
Recovered: 77,279
The above state shows the situation is under control in China, and Wuhan city reopened. More
China Ends Wuhan Lockdown, but Normal Life Is a Distant Dream
Published April 7, 2020 | Updated April 8, 2020, 1:01 a.m. ET
By Raymond Zhong and Vivian Wang
– nytimes.com
“We began using them for disinfection and disease prevention,” said Hou Yongfei, deputy secretary-general of the Shanxi Province Unmanned Vehicle Association, the outlet reported, citing AsiaWire.
Wuhan recovery gives hope to rest of world, says WHO
This channel still not confirmed completely. 8836 is resistance to push price 180-300 points -ve.
We created a parallel channel by looking at market (a), (b)…(e). If you look at this chart and drawing minutely, then you will found that where are maximum points(dots). That is called gravitation to attract the price value. In the future, while the pullback price tries to test this line in the coming days.
The price very near the yellow gravitating line ()yellow which is 8912 nearby.
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As per the channel, two resistance can push the price toward 8515 and 8340 follow by Resistance 8592-8632 Almost all major resistances and supports are plotted on the chart. If price close above 8620 above, then I will update fresh chart.
8323 targets then, price will not break or close 8622. In case of break & close above 8612, then channel will not continue.
Daily chart for SGX Nifty:
Almost many things are till remaining on the chart, although I have plotted the following:
Channel support 1559 nearby for GOLD .
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In the last updatation for the nifty, I have written with the channel that “I am not bullish below 8130”. Same day nifty was crossed this level and fired up to 9038. This morning I have created NIFTY and HINDUNILVR.
The mainly four Fib. Retracement are applied in different years.
The question is how to understand and use these levels?
Answer; There is always pullback whether there is a stock or market. If there is normal good new, then pullback easy can be 38.2% retracement. Though the confluence zone is the memory of investors, here is 9647 attract to investors. Above all given levels are actionable for traders and investors. I would like to add GAP theory on with retracement in another chart.
Control price attraction is the easy target 2083 nearby for short-sellers.
Best short-selling points
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CLOSE VIEW:
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Intraday Resistance at 8047
8130 nearby strong resistance at value high.
If U-turn exist with new low, target will be 7330 nearby and targets of control price is at 7107.
As far as crossing the level 8330, I won’t speak about bullish.