Day Trading Guide
Weakness could set in, once Nifty breaks below the lower-end of the recent trading range (8830-8710). 8710 is the first line of defense as per gann rule of 8, and the same coincides with the three-digit gann number of 8710. Since September 2016, 21-DMA has been acting as a point of reference, confirming major turning points. The same is placed at 8635, which coincides with 180 degree from the recent top of 8827. So, below 8710, Wednesday’s decline could extend towards 8640.