NIFTY View - Way Forward

NIFTY :

Blue line - Struggled to close above this

Black Lines - Channel support/resistances

Orange Lines - Immediate Supports

Comment:

Super Bounce :

Closed above blue line .

Comment:

Retested the Support (earlier resistance), bounced strongly from there.

Comment:

Blue Line

Comment:

Trendline Broken (Black dotted extended line)

Now, Focus on support(s) (Orange) below:

Comment:

Broke the Trendline (extended black dots) , tried to retest (extended black) but failed.

Comment:

Point of concern is this Inverse Flag Pennant (Black) , Next session, this might breakdown and then focus to be on orange supports ! Let's see... market Supreme

Comment:

As anticipated, Broke down! Market Supreme

Comment:

Current rejection from Trendline (Black dots extended)

Comment:

Opened GAP Up for all time High BUT rejected from resistance (Extended Black line) :

Comment:

Watch Out ! Attempting to break trendline (extended dotted black)