Nifty Update - Expect a pull back before reaching 15000.
Hi Traders,
Nifty can pull back to key zone at 14000 - 13775 levels after testing the upper channel. Since nifty is near the upper channel we can expect a pullback very soon, this can be used for positioning yourself for the rally towards 15000.
If nifty breaks the upper channel, Then price can rally towards 15000. But this move can be seen as an exhaustion which is an indication of bearishness in the long term.
Note:-
1. This analysis can be used only for long term positions.
2. This analysis is done based on technical analysis without considering any fundamentals.
Pls comment below for queries...
Happy trading....
Nifty can pull back to key zone at 14000 - 13775 levels after testing the upper channel. Since nifty is near the upper channel we can expect a pullback very soon, this can be used for positioning yourself for the rally towards 15000.
If nifty breaks the upper channel, Then price can rally towards 15000. But this move can be seen as an exhaustion which is an indication of bearishness in the long term.
Note:-
1. This analysis can be used only for long term positions.
2. This analysis is done based on technical analysis without considering any fundamentals.
Pls comment below for queries...
Happy trading....
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.