Nifty is Showing Strength to Move above 17000.
Strong Demand Zone @ 16400-16500: Very high Probability to brake 16800-16850 Supply Zone and Test it's next Supply zone @ 17000-17400.
Resistance are: 16600 and16750
Weak Demand Zone @ 16250-16350: Less Probability to brake 16800-16850 Supply Zone. High Probability to brake 15900.
Resistance are: 16400
As per my view Nifty Should brake 16800 and move to it's next Supply because there is a strong Bullish Candle in July month on Monthly chart and it took Support From it's Strong Demand Zone.
But I will change my Long and Short Position According to the levels.
Resistance are: 16600 and16750
Weak Demand Zone @ 16250-16350: Less Probability to brake 16800-16850 Supply Zone. High Probability to brake 15900.
Resistance are: 16400
As per my view Nifty Should brake 16800 and move to it's next Supply because there is a strong Bullish Candle in July month on Monthly chart and it took Support From it's Strong Demand Zone.
But I will change my Long and Short Position According to the levels.
Note
Support Moved to 16650-16750...Still 16750-15680 is a Supply Zone. Fresh Long Position above 16850.Note
Trade closed: target reached
It may test 17300-400 zone then retrace.Note
Note
Moving above 17140 which was a resistance...Daily close above 140 will be another positive sign to reach final target @ 17300-17400Note
Please check the new post for further updation.Trade closed: target reached
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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.