Nifty has touched the resistance in the weekly timeframe. There may be two possibilities can happen
1. Consolidate some time in the current range and get breakout
2. Reverse back to support and come again to resistance and breakout may happen
I am guessing option 2 may happen. Why because, There was a non stop rally of nifty from the last 2 and half months.
So be cautious on long side trading.
Disclaimer: Sharing only for educational purpose
1. Consolidate some time in the current range and get breakout
2. Reverse back to support and come again to resistance and breakout may happen
I am guessing option 2 may happen. Why because, There was a non stop rally of nifty from the last 2 and half months.
So be cautious on long side trading.
Disclaimer: Sharing only for educational purpose