RANGE BREAKOUT IN NIFTY ?!, if you look at the daily timeframe chart, some consolidation type phase happened and last 2 candle of 1D timeframe has given closing above the important resistance which is 15901 (-+5) and on daily timeframe the same level 15901 got rejected by candle as u can see in recent candle and also a strong closing can be seen in weekly timeframe chart. can expect a good upside move in nifty. level shown in chart are taken from Fibonacci study on both weekly and daily timeframe. looking at the recent candles and the closing of those candles charts looks fine to go up, don't know if its a trap or something. with a favorable risk, reward looks good upside, one can go long with the stop-loss of 15870 (only on candle closing basis) upside targets are shown in the chart.
THIS VIEW OF MINE IS PURELY BASED ON TECHNICAL CHART, BEWARE OF NEWS AND OTHER FACTORS WHICH CAN AFFECT THE TECHNICALS OF THE CHART. (I'm absolutely not suggesting to solely depend on my view or this is not any type of BUYING CALL, I've shared this view only for educational purpose)
HAVE A SAFE TRADING
THIS VIEW OF MINE IS PURELY BASED ON TECHNICAL CHART, BEWARE OF NEWS AND OTHER FACTORS WHICH CAN AFFECT THE TECHNICALS OF THE CHART. (I'm absolutely not suggesting to solely depend on my view or this is not any type of BUYING CALL, I've shared this view only for educational purpose)
HAVE A SAFE TRADING
Trade active:
Marking this trade/view active now, previously the ideal entry was not triggered. Due to the news it ki d of failed without hitting the entry.
Trade closed: target reached:
target almost done after hitting the entry
