vaibhavmehta611

NIFTY VIEW For 23/11/2020 - Hourly Time Frame

NSE:NIFTY   Nifty 50 Index
Nifty broke down from the TL and has given a pullback towards the TL, on hourly chart it has formed a doji an hourly close below the low of doji will confirm lower high and can take nifty to 12730 levels and below that to 12626 level which is also the fib 23.6 level and a good support zone , view gets negated with an hourly close above the Doji high which will take nifty to previous high and above
Comment: price opened gapup and did not give an hourly close below the wick of the doji candle, it gave a close above the doji candle and tested the previous high as expected