Few Points to notice!
1. NIFTY is making Higher Low - Lower High Pattern, indicating the decrease in volatility, also a probable Break Out or Break Down soon!
2. Red line - Short term Trend line support, Blue line - Mid Term Trend line support.
3. Negative Divergence
4. As long as closing above 17075 DCB, longs can remain intact. Below this, sellers can have upper hand.
5. Ultimate support around 16775 (App. 200MA)
6. This is a line chart, basically for price action not for creating fresh positions. So analyse accordingly.
7. Views are for education purpose only. Consult your financial adviser before investing.
1. NIFTY is making Higher Low - Lower High Pattern, indicating the decrease in volatility, also a probable Break Out or Break Down soon!
2. Red line - Short term Trend line support, Blue line - Mid Term Trend line support.
3. Negative Divergence
4. As long as closing above 17075 DCB, longs can remain intact. Below this, sellers can have upper hand.
5. Ultimate support around 16775 (App. 200MA)
6. This is a line chart, basically for price action not for creating fresh positions. So analyse accordingly.
7. Views are for education purpose only. Consult your financial adviser before investing.
Trade active:
Took support at red line and reversed!
Comment:
From 17213 to 17605. Remaining above 17600 on DCB will open gates for 18400+