Nifty 50 IndexShort
Nifty trading setup
Nifty throughout this week has been trading with high volatility
with the concern of Russia & Ukraine war tension + USA rising inflation, the market tends to factor in the news
seems like this is going to remain until the end of Feb month or the confirmed decisions, there will be high volatility tug of war bulls and bears
on chart reading & day trading perspective
I have spotted a head & shoulder pattern on 15 min chart
if the 17250 or green line is broken down
the price might come down towards 17050-17100
even further it can go down to 16900
nifty has good support on 16700 and 16800
supported by 200 DMA
thanks for reading this my pov of chart reading if you have other opinions regarding my analysis do feel free to share your view in the comment box
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with the concern of Russia & Ukraine war tension + USA rising inflation, the market tends to factor in the news
seems like this is going to remain until the end of Feb month or the confirmed decisions, there will be high volatility tug of war bulls and bears
on chart reading & day trading perspective
I have spotted a head & shoulder pattern on 15 min chart
if the 17250 or green line is broken down
the price might come down towards 17050-17100
even further it can go down to 16900
nifty has good support on 16700 and 16800
supported by 200 DMA
thanks for reading this my pov of chart reading if you have other opinions regarding my analysis do feel free to share your view in the comment box
SUPPORT ME BY HITTING THE LIKE BUTTON
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