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NIFTY Price Action Analysis : Watch out 7920 major support level

In our last posts, we talked about a range breakout trade possibility & currently we see price successfully reaching our target level of 7920 after breaking out of the range as discussed. 7715 is seen as next level of major support which will be used as a target level for nifty in case we find price falling & trading below currently held support level of 7920.In case we find a retracement happening in price action, then we see 8070 is a good level of strong flip resistance to find selling opportunities to join back the ongoing downtrend. So, Wait for a breakout trade opportunity below 7920 level or a pullback trade opportunity if price hits 8070.

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PLS NOTE : All chart analysis posted above are the author’s own idea of trading for educational purpose only &  not any form of advice or recommendations or opinion to anyone

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