Nifty closing below the blue trendline and Monthly expiry view

NSE:NIFTY   Nifty 50 Index

As suggested earlier Nifty closing on last Friday suggested battle of Bulls and Bears still in balance. The importance of 17965 was highlighted... Nifty opened gap up exactly at that levels but Bulls are looking nervy as it couldn't sustain above that. The 2 hourly candles gave a close of 17959 and 17964

- Now On Hourly charts Nifty has closed below the blue trendline
- On the upside 17965 / 17996-18030 is very crucial resistance zone
- On the downside 17836-17854 if taken out then it potentially opens gate for further downside up to 17564 till Feb expiry.

Take care & safe trading....!!!

Do Like and Share
Follow for more trading ideas from me
Learn to earn

Take care & safe trading...!!!

- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be


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.