NIFTY -- DAILY CHART -- NEXT WEEK AHEAD.
1. DOUBLE TOP formation seen at 18100 level from where nifty shap fall towards 17300 sub level last few sessions .
2. Double top formation at overbought level of RSI , shown trix line negative crossover at this level.
3. At next session 17150-17200 work as strong support level and if this support holds then nifty can reverse trend to 17500-17600 level
4. if 17150-17200 levl breaks down then nifty can fall at 16800 level .
5. 16800 Is also Fibonacci 50 % retrenchment level from low 15300 to high 18100
6. overall if nifty fall to 16800 levl then this can treat as strong demand zone where one can buy at good risk reward ratio.
THIS IDEA IS FOR EDUCATIONAL PIRPOSE ... ** trade at own risk .!!
HAPPY TRADING, !!
1. DOUBLE TOP formation seen at 18100 level from where nifty shap fall towards 17300 sub level last few sessions .
2. Double top formation at overbought level of RSI , shown trix line negative crossover at this level.
3. At next session 17150-17200 work as strong support level and if this support holds then nifty can reverse trend to 17500-17600 level
4. if 17150-17200 levl breaks down then nifty can fall at 16800 level .
5. 16800 Is also Fibonacci 50 % retrenchment level from low 15300 to high 18100
6. overall if nifty fall to 16800 levl then this can treat as strong demand zone where one can buy at good risk reward ratio.
THIS IDEA IS FOR EDUCATIONAL PIRPOSE ... ** trade at own risk .!!
HAPPY TRADING, !!
Comment:
todays low at 16850 sub level which is predicated support level as per chart and at same level trix line crossover seen on hourly chart , nifty bounce back from that level 100-120 points from then from hourly oversold level . 28/09/2022 --10.15 am
Comment:
todays intraday support at 16850 and resistance 17000 level -- 28/09/2022