Nifty currently showing bearish pattern on chart, last trading session closing bearish engulfing candle seen on chart, nifty will be bullish only if above 17350 level closing basis otherwise bearish pattern continue till downside target 16800 in worst case 16500.
if nifty close above 17350 closing basis then bullish formation on chart for upside target 17500-17600 can achieved,
this analysis purely on technical indicators please make your own study and analysis and take call.!
Wish you Happy trading.!
if nifty close above 17350 closing basis then bullish formation on chart for upside target 17500-17600 can achieved,
this analysis purely on technical indicators please make your own study and analysis and take call.!
Wish you Happy trading.!
Comment:
as mentioned sharp fall of nifty today around 300 points (1.65%) . tomorrow nifty likely take support at 16800-16850 level ..and trend reversal is possible ..if gap down open and nifty break this support at morning then wait for consolidation and take call.!
Comment:
nifty taken support at 16800-16850 there short trade was over and long position build up and nifty jump to 17450 odd in last 2 trading session now today nifty can touch resistance of 17600-17650 upside, downside 17400 is strong support level to watch. !
Comment:
bullish doji candle formation today on daily timeframe means more upside trend is possible now around 17600-17650 level or may be more.!