Nifty on daily chart - Short
Updated
Nifty daily chart as per ICT prospective:
For swing trading prospective Nifty is in downtrend on daily chart and will face tough resistance in the zone of 19550 till 19900. Hence while Nifty is in 19550-19900 expect consolidation and bias towards down. The long term trend would turn positive ONLY above 19900. Till that time it is sell on rise.
For swing trading prospective Nifty is in downtrend on daily chart and will face tough resistance in the zone of 19550 till 19900. Hence while Nifty is in 19550-19900 expect consolidation and bias towards down. The long term trend would turn positive ONLY above 19900. Till that time it is sell on rise.
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Nifty Short term target 19300.
Note
Failure of breaking 19300 could bring 20000, though chances are less till we are below 19650.
Note
Nifty currently trading at 19300. Nifty needs a daily close below it for a smooth down ride else we can expect a bounce from here.Trade active
Nifty Needs a close below yesterday low 19317 before moving to 19250.Trade active
Nifty currently trading around 19300. So until it closes below 19300 or breaks below 19250 bigger fall can not happen. Breaking below 19250 can take it down to 18900 levels.
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The whole month Nifty spend time in this marked range. Holding shorts in Nifty needs a lot of patience and discipline. :) Breaking and closing outside of this range can pay off well. For now Shorts looks more favorable than Longs.
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