Nifty opinion: Unless 14926 is broken on upside, 14350 is coming
Nifty has for the third time recently touched the same price zone of 870-900 and was rejected twice earlier, now on the third time its likely that price will not be able to break this level upside.
If it does then 15000 isn't far.
While if it does not then 14350 is coming where price can take support but since it has already breached below 14350, this time its probably going to 14030 which is 0.786 correction from the rally that began on 1st Feb.
Hourly stochastic is oversold though k% is still above D%.
Daily stochastic is positive and shows bullishness
Weekly stochastic turned negative since last week.
If we look at weekly chart and if the correction is going to continue, then this week's closing could be near 14300-14350 which though seems difficult as then Nifty has to fall by 500 points in 2 days.
If it does then 15000 isn't far.
While if it does not then 14350 is coming where price can take support but since it has already breached below 14350, this time its probably going to 14030 which is 0.786 correction from the rally that began on 1st Feb.
Hourly stochastic is oversold though k% is still above D%.
Daily stochastic is positive and shows bullishness
Weekly stochastic turned negative since last week.
If we look at weekly chart and if the correction is going to continue, then this week's closing could be near 14300-14350 which though seems difficult as then Nifty has to fall by 500 points in 2 days.