Nifty:: Is Nifty reversal or retracement?

In near time frame we got bearish divergence, trend line broken, head & shoulder pattern which indicate us retracement. But mid time frame we got a trend reversal pattern which will take time for reversal.

In near time frame, preceding candle count indicates us range bound trend. If this happens, there are more chances to make new higher high instead reversal then it will resume at approx 8878

Below levels are: (As per time, price levels will update)

R1 R2 R3 R4 R5 R6 R7 R8 R9 R10 R11 R12
10306 10326 10362 10422 10469 10515 10582 10667 10775 10831 10912 11063

S1 S2 S3 S4 S5 S6 S7 S8 S9 S10 S11 S12
10235 10215 10179 10119 10072 10025 9959 9874 9766 9710 9629 9477

Let's see what next move...

Cheers!

Note

now short trade profit booking start.

buy nifty,@ 10104 sl 10025 tgt 10235 10215 10179 10119 10306 10326 10362 10422, partial buy

Trade active

Note

for day profit book at 10119-130, risk taker continue, if close above 10144-152 might be possible good recovery 10119 10179 10215 10235 10306 10326 10362 10422

Note

Market Either Up or Down: Need to wait and watch for close above or below

Note

in.tradingview.com/chart/rAmPo6Nc/

Note

tgt 10235-10421

Note

again buy on dips...10179-215 will update.

estockmarket

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