InsiderB

Nifty : DoubleTop or Trendline Retest ?

NSE:NIFTY   Nifty 50 Index
Hi Guys,
Just two simple scenario's in Nifty , so the details in the chart repeats :
I see two scenario's or potential formation for long/short trade setups.
(i) If Market opens Gap Down, Nifty can find support in the zone below 8800's n bounce back
(ii) If Market moves up & gives bearish reversal around 8880's we can enter short
(iii) Breaking any of the support/Resistance will determine the direction I believe else another ranging day, which I don't expect it to be.
Just an info for harmonic traders,last week bearish Gartleys target 2 around 8770's.

Happy Trading !
Comment: Until this support zone breaks,play safe. If broken Bears will control the Game !
Comment: The Risky Cypher is Here !

Comments

i am very much agree with you
+1 Reply
InsiderB rathirathi2001
I guess the cypher is stopping further down move
Reply
super sir 100 points
+1 Reply
InsiderB priya61
Yeah ! Hope you are making Money...
Reply
what do u think about next support ? is it 8700 ?
+1 Reply
InsiderB Amar24
Yes Amar, I have market support zone and updated in comment section below the chart.
Reply
Amar24 InsiderB
Seems it moving again towards 8700 .. after testing resistance today
Reply
InsiderB Amar24
In that case, My stops will be gone if Nifty goes below 8680's I will be taking loss
Reply
Amar24 InsiderB
8768 provided a firm resistance as it provided a strong support before 3-4 times
+1 Reply
thank you
+1 Reply
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