Nifty 50 on the daily chart is trading in a range and has respected the zone quite effectively.
Index has remained sideways since a 3.82% move on 12th may. Market trade in cycle and after a sideways cycle, a trending market is predicted.
Either side movement can be seen in the index as 18 bars or 24 days it has remained in the range.
Major Resistance :- 25125, 25500
Major support :- 24500, 23930
This 600 range and change into same range of trending market.
Even the moving averages are coinciding and forming a MA gate which can give good momentum trading setup
Wait for the price action near the price levels before forming a trading basis. Trade only the setup and wait for the retest on either side.
Index has remained sideways since a 3.82% move on 12th may. Market trade in cycle and after a sideways cycle, a trending market is predicted.
Either side movement can be seen in the index as 18 bars or 24 days it has remained in the range.
Major Resistance :- 25125, 25500
Major support :- 24500, 23930
This 600 range and change into same range of trending market.
Even the moving averages are coinciding and forming a MA gate which can give good momentum trading setup
Wait for the price action near the price levels before forming a trading basis. Trade only the setup and wait for the retest on either side.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.