Once of the simplest as well the most powerful chart patterns is consolidation and range breakouts .
Analysis daily charts of the nifty, show that the negative global new of the war has not much effected nifty as single red candle after news is followed by a big green candle and a trendline breakout which shows the strength of the buyers and a trader we should plan to trade with trend instead of fighting it, so we should be a little biased towards uptrend in coming days and should plan for selling only if nifty falls below 19600.
Currently nifty has broke out a trend line and consolidating in a range of 19775- 19850 for last two day which show that a big trend is coming ahead after a breakout or breakdown
now How we can plan for tomorrow
1) best case scenario markets open flat in the range, the plan will be simple if nifty crosses 19850 for easy 50 points move with a small stop loss and can hold as per the price action
or if it breakdowns 19870 we can also take a small 50 -70 points trade in short side as market can come back for a small retest.( keep in mind big sellers will only after it crosses below 19600 so for selling only plan for a small target as support zone is strong at 19700
2) market opens a gap u around 19800-19850 market is in good trend so if it hold above 19840 for 5-10 mins we take trade at call side with a small stop loss of 20-30 points
3) market opens a gap down , if market opens a gap down it will be a little confusing as buyers and sellers will be fighting for the trend but if market opens a big gap down then it can be big down side trend as there will be breakout failure and all buyers will be trapped and SL hunting will happens and new buyers will also add below 19600
its just for educational purpose trade at your own risk
Analysis daily charts of the nifty, show that the negative global new of the war has not much effected nifty as single red candle after news is followed by a big green candle and a trendline breakout which shows the strength of the buyers and a trader we should plan to trade with trend instead of fighting it, so we should be a little biased towards uptrend in coming days and should plan for selling only if nifty falls below 19600.
Currently nifty has broke out a trend line and consolidating in a range of 19775- 19850 for last two day which show that a big trend is coming ahead after a breakout or breakdown
now How we can plan for tomorrow
1) best case scenario markets open flat in the range, the plan will be simple if nifty crosses 19850 for easy 50 points move with a small stop loss and can hold as per the price action
or if it breakdowns 19870 we can also take a small 50 -70 points trade in short side as market can come back for a small retest.( keep in mind big sellers will only after it crosses below 19600 so for selling only plan for a small target as support zone is strong at 19700
2) market opens a gap u around 19800-19850 market is in good trend so if it hold above 19840 for 5-10 mins we take trade at call side with a small stop loss of 20-30 points
3) market opens a gap down , if market opens a gap down it will be a little confusing as buyers and sellers will be fighting for the trend but if market opens a big gap down then it can be big down side trend as there will be breakout failure and all buyers will be trapped and SL hunting will happens and new buyers will also add below 19600
its just for educational purpose trade at your own risk