NIFTY
◉Technical View
▲The up-trend started to lose its strength a few days back and formed a rising wedge price action.
▲The Rising wedge broke down from the trendline + Neckline and gave a good closing also with RSI confirming the Bearish Structure.
▲2nd confirming structure is double top, I always say location is important more than the structure and this double-top has formed at the weekly trend channel resistance line, a potential supply zone
▲The Major levels of support have been marked on the chart, kindly analyse and mark them on the chart.
◉Fundamental Event.
Yesterday Conflict escalated between IRAN & ISRIAL so Majority of global markets took hit and closed in Red.
◉This Can possibly Trigger GAP down-opening then look for Retest to short.
◉Keep Risk under control by using Protective Stops.
Keep Learning,
Happy Trading.
◉Technical View
▲The up-trend started to lose its strength a few days back and formed a rising wedge price action.
▲The Rising wedge broke down from the trendline + Neckline and gave a good closing also with RSI confirming the Bearish Structure.
▲2nd confirming structure is double top, I always say location is important more than the structure and this double-top has formed at the weekly trend channel resistance line, a potential supply zone
▲The Major levels of support have been marked on the chart, kindly analyse and mark them on the chart.
◉Fundamental Event.
Yesterday Conflict escalated between IRAN & ISRIAL so Majority of global markets took hit and closed in Red.
◉This Can possibly Trigger GAP down-opening then look for Retest to short.
◉Keep Risk under control by using Protective Stops.
Keep Learning,
Happy Trading.
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WHATSAPP :- 8966893932
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superprofile.bio/tradexculture
WHATSAPP :- 8966893932
TELEGRAM :- @Mrsanjay_p