Hello traders, hope you had a great weekend.
This previous week was a rollercoaster for Nifty. Bulls were able to drive Nifty up to 19565 but then failed to sustain it and bears aggressively stepped in and trashed the buyers in the market.
We saw market closing below 19250 on Friday. That's the lowest close since July 3rd.
We can see that Nifty has printed a classic Head and SHoulders on charts. This is a 30m chart here.
If we see a reversal back above 19400, then only i am hoping that Bulls will be able to gain control back.
If market manages to make new low on 1hr, we might see Nifty touching 18850.
18660 is the possible Demand zone.
Possible Support levels: 18851, 18660, 18453.
Bears will fear only above 19400 and Bulls get full control above 19562 (last swing high).
Give this post a like, if you agree with this analysis.
Disclaimer: This is my trading plan and i am just sharing it here. I do not intend to post it here as a trading advice or suggestion. It is shared here only for the sole purpose of sharing and discussing with fellow traders. Do your own due diligence and trade responsibly.
This previous week was a rollercoaster for Nifty. Bulls were able to drive Nifty up to 19565 but then failed to sustain it and bears aggressively stepped in and trashed the buyers in the market.
We saw market closing below 19250 on Friday. That's the lowest close since July 3rd.
We can see that Nifty has printed a classic Head and SHoulders on charts. This is a 30m chart here.
If we see a reversal back above 19400, then only i am hoping that Bulls will be able to gain control back.
If market manages to make new low on 1hr, we might see Nifty touching 18850.
18660 is the possible Demand zone.
Possible Support levels: 18851, 18660, 18453.
Bears will fear only above 19400 and Bulls get full control above 19562 (last swing high).
Give this post a like, if you agree with this analysis.
Disclaimer: This is my trading plan and i am just sharing it here. I do not intend to post it here as a trading advice or suggestion. It is shared here only for the sole purpose of sharing and discussing with fellow traders. Do your own due diligence and trade responsibly.