[image]https://in.tradingview.com/x/BYbqFG9O/[/image]
Nifty50 is found at the upper-end of bollinger band, which will be acting as resistance of the same.
Now some calculations.
Nifty50 made a low of 7893.80 in 2016
High just before the elections in UP: 8992.50
If we take the difference of the above two 8992.50-7893.80 = 1098.7 points
Now the low point after the measuring gap was created was 9019.30
If we add to that 1098.7 we get 10118. Nifty50 made a high of 10114.85. Pretty close right.
Now some calculations.
Nifty50 made a low of 7893.80 in 2016
High just before the elections in UP: 8992.50
If we take the difference of the above two 8992.50-7893.80 = 1098.7 points
Now the low point after the measuring gap was created was 9019.30
If we add to that 1098.7 we get 10118. Nifty50 made a high of 10114.85. Pretty close right.
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