Will Nifty make a new LH or HH ???????????????
Nifty did gave a positive Friday and made a new low high. And the kickback was very much expected after Nifty continuously loosing the gains for more than 3 days.
As of now Global markets are mixed.
But now the question lies ahead is if Nifty will continue the gains or will start towards a new low ?
There are two scenarios :
1) Let us suppose that Nifty will continue its journey upwards and it crosses the resistance zone marked in the chart then it will get into a uptrend and will start moving upward. And probably we might see Market getting positive hereafter.
2) If Nifty does not cross the resistance line marked in the chart and stays below it then there are higher chances of good fall and Nifty will continue going into downtrend and will make a new low than 10790.
3) If Nifty crosses the resistance line and does not cross the resistance zone then most probably it will go into rangebound scenario for few days.
Anyways stay vigilant and let market decide its fate. We will go only with the market as we are here to gain money but not to loose money.
Stay safe and Happy trade.
Note: My views are only for educational purpose. Consult your financial advisor before taking any trade.
As of now Global markets are mixed.
But now the question lies ahead is if Nifty will continue the gains or will start towards a new low ?
There are two scenarios :
1) Let us suppose that Nifty will continue its journey upwards and it crosses the resistance zone marked in the chart then it will get into a uptrend and will start moving upward. And probably we might see Market getting positive hereafter.
2) If Nifty does not cross the resistance line marked in the chart and stays below it then there are higher chances of good fall and Nifty will continue going into downtrend and will make a new low than 10790.
3) If Nifty crosses the resistance line and does not cross the resistance zone then most probably it will go into rangebound scenario for few days.
Anyways stay vigilant and let market decide its fate. We will go only with the market as we are here to gain money but not to loose money.
Stay safe and Happy trade.
Note: My views are only for educational purpose. Consult your financial advisor before taking any trade.
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