NIFTY WEEKLY OUTLOOK
Nifty is down by 3.54% from last week. So what to expect in the coming week?
Well as per my analysis we can see a break of rising wedge pattern with huge selling pressure on daily TF and price have retested the level before continuing the prior trend on smaller TF(1H)
If Nifty breaks the level of 16777 we can next immediate support at 16700 which is formed by the rising gap and wait till the price reacts with bullish candle patterns before going long.
But Nifty may face lot of hurdles towards the upside because there is a lot of Increase In OI from 17000-17300 level if the price sustains above this level in the coming week we may see the market going from SUPER BEARISH TO LESS BEARISH.
THANK YOU
that's all from my side plz feel free to share your outlook.
LEARNING = HAPPY TRADING
Well as per my analysis we can see a break of rising wedge pattern with huge selling pressure on daily TF and price have retested the level before continuing the prior trend on smaller TF(1H)
If Nifty breaks the level of 16777 we can next immediate support at 16700 which is formed by the rising gap and wait till the price reacts with bullish candle patterns before going long.
But Nifty may face lot of hurdles towards the upside because there is a lot of Increase In OI from 17000-17300 level if the price sustains above this level in the coming week we may see the market going from SUPER BEARISH TO LESS BEARISH.
THANK YOU
that's all from my side plz feel free to share your outlook.
LEARNING = HAPPY TRADING
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.