Nifty: Will Monday be a down day...???

NSE:NIFTY   Nifty 50 Index
CMP 9642

Observations from the chart

- This is a 30 minutes candle chart

- 9640-9650 zone as can be seen acted twice as resistance initially

- Then subsequently it provided support on 4 occasions

- Currently Nifty looks likely to be in small down trend

- If Nifty closing is below 9640 then probability of downside might increase

For the current set up

Target - 9580 - 9560

Stop loss - 9666

Time frame till Monday

Review your risk:reward & your trading plan


Plan your trade accordingly

Take care & safe trading...!!!

Trade closed: stop reached: Nifty crosses 9666

Exit from short position with minor losses if closing is above 9666

Take care & safe trading...!!!
Comment: Nifty despite a flurry of 30 point up move in late Friday session, it still struggled to close above the resistance top of falling channel.
Comment: Nifty forming a doji candlestick right at channel resistance suggesting indecision


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