Nifty View Bounce and Break !
Hello mates sharing a view on Nifty on daily time frame, So as we can see that after a good correction form all time highs now price reached to 200 Ema so let's discuss what are the probabilities we can see from here.
Current View-: So it look like that price is taking support from 200 Ema as in yesterday's session price breached that but did not close below so we can expecet a bounce towards 24000 to 24500 then again price will make a lower high there and after came down for cracking that 200 Ema.
Alternative view-: That Price will break 200 Ema directly from here as overall sentiments also seems not good and in favour of defend this moving average.
if moving average will break then we can see a rally towards marked support zone below.
I will try my best to update this publication for a bounce or a break too stay tuned.
Hope you like my idea, Thanks in advance.
Best regards- Amit
Current View-: So it look like that price is taking support from 200 Ema as in yesterday's session price breached that but did not close below so we can expecet a bounce towards 24000 to 24500 then again price will make a lower high there and after came down for cracking that 200 Ema.
Alternative view-: That Price will break 200 Ema directly from here as overall sentiments also seems not good and in favour of defend this moving average.
if moving average will break then we can see a rally towards marked support zone below.
I will try my best to update this publication for a bounce or a break too stay tuned.
Hope you like my idea, Thanks in advance.
Best regards- Amit
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.