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vanathi
Apr 17, 2024 9:32 AM

Mighty Nifty - April 18 

Nifty 50 IndexNSE

Description

Price was falling for few days, now it has broken the trend line after consolidation for some time.
Pattern : Trend line.
Range : Medium.
Trend strength : Normal.
Buy Above : 21160.
Stop Loss : 21120.
Targets : 21200, 22240 and 22300.

Sell below : 21080.
Stop Loss : 21120.
Targets : 21040, 21000, 20960 and 20920.

Expected expiry day range is 20900 to 21300.
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Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.

Comment

Typo error in levels. Please correct and understand yourself. Thanks.

Comment

Testing previous support/resistance.
Comments
manish1008
please correct levels.... should be 22000+
vanathi
@manish1008, You are right.
svj_ravi
formed a spinning top in the daily time frame at an important support level
vanathi
@svj_ravi, If you draw a trend line, price is at support. Nice chart. Thank you for sharing.
MadMan_Thanos
Also, at the 22100 support as well. Tested many times previously(1H).
vanathi
@MadMan_Thanos, Thats right. Thank you.
GarrySingh
What to do with gap down opening
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