Nifty
Study - Nifty is consolidating since last two months. After a big fall in midcap and small cap on 12th Sep 2023, its being observed that stock movement have become low. That is where some stocks losing strength.
Conclusion -
Considering weak global markets, there are two views in nifty which are side ways to bullish. Time frame taken for chart study is 1 hr
View 1 - Nifty may break the lower high structure and move up
View 2 - Nifty may consolidate for time being below 19500 and take supports near 19200 then move up if 19522 breaks upside
Else view will be bearish till 18900 if 19200 breaks downside
This chart is only for educational purpose. Do your own study before taking any trades.
Study - Nifty is consolidating since last two months. After a big fall in midcap and small cap on 12th Sep 2023, its being observed that stock movement have become low. That is where some stocks losing strength.
Conclusion -
Considering weak global markets, there are two views in nifty which are side ways to bullish. Time frame taken for chart study is 1 hr
View 1 - Nifty may break the lower high structure and move up
View 2 - Nifty may consolidate for time being below 19500 and take supports near 19200 then move up if 19522 breaks upside
Else view will be bearish till 18900 if 19200 breaks downside
This chart is only for educational purpose. Do your own study before taking any trades.
Comment:
Nifty may remain sideways some days to some weeks