Currently nifty has moved upside more than 75% of it's recent swing low after a downside move from it's highest peak of 18097, taking a good support at 16745 , nifty has shown a good move upside , took support at 17422 (50% retracement level) and currently ii is at 17786, if the market shows positive sign's , no doubt it going to make a new high the soon.
Also in 1hour or 1 day time frame a w or double bottom pattern has been formed, in lower time frame (5min) nifty is taking a strong support between 17672 & 17658 ( tested 4 times in last 3 days) , also there a resistance at 17808 is waiting. The RSI is also giving a positive sign, and the volumes were also good the last trading day. Let's see what happens tomorrow .
Happy Trading friends!!
Also in 1hour or 1 day time frame a w or double bottom pattern has been formed, in lower time frame (5min) nifty is taking a strong support between 17672 & 17658 ( tested 4 times in last 3 days) , also there a resistance at 17808 is waiting. The RSI is also giving a positive sign, and the volumes were also good the last trading day. Let's see what happens tomorrow .
Happy Trading friends!!