NIFTY intraday update

NIFTY WEEKLY CHART

• Nifty fall pausing at 50 Day SMA.
• Breaking day low and 50 SMA could fill the GAP shown in 2nd chart completely and may target 38.2% Fib level at 5188.
• For bulls price must get back above 23.6% Fib level to avoid a bigger fall.
• Shooting start shown in weekly chart has been doing well so far.
• TATA STEEL CHART ANALYSIS