NIFTY-VIEW for 16/10/2019

NSE:NIFTY   Nifty 50 Index
As expected, ( nifty gave a slow move towards upside and the same we expected.

It broke the channel but was not able to sustain above it and came back in channel at the end of the day by forming the upper shadow, this upper shadow shows the sellers strength at the level.
one more important point that we can observe here is, almost equal no of sellers and buyers are present in the market because most of the candle has formed doji kind of.

@What next?

For tomorrow I am neutral can be both the side, but my bias is more on buy side.

Level- if sustain 11437 then 11457. and if it crosses 11457 and holds upside then 11500 we can see.
Caution- 11498 and 11514 has Daily and Weekly resistance so be cautious before placing your trade.

If it breaks the channel at down side then what? --- Watch the video.

#Disclaimer- This not recommendation. Its completely my view.



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