Rahul_vrma

nifty intraday strategy

Long
NSE:NIFTY   Nifty 50 Index
nifty 50 made a descending triangle pattern in 15 min time frame
it is likely to move on up side in direction of a trend if it goes downwards then a small profit booking is
possible so keep the level in mind for 7th June.

Comments

this is not a triangle pattern, also 15733 should not be the resistance
+1 Reply
Rahul_vrma prafulwadhwa1403
@prafulwadhwa1403, how you can say that 15733 is not a resistance, this is all about intraday levels.
Reply
@Rahul_vrma, 15700 is the actual resistance, it has stopped Nifty from crossing 3 times on Friday. 15733 is just an all time high made by a red candle. opinions can differ although
Reply
Rahul_vrma prafulwadhwa1403
@prafulwadhwa1403, sir 15700 or 15733 doesn't makes difference
there is not fix support or resistance in stock market there is always nearby prices
a range tells us support or resistance and there is a range in nifty50 around 15700 to 15733.
Reply
@Rahul_vrma, u r right actually when trading in options, but in futures these 30 points can make quite a difference. fingers crossed for tomorrow.
Reply
Rahul_vrma prafulwadhwa1403
@prafulwadhwa1403, uptrend is possible tomorrow
Reply
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