nextgen
Short

NIFTY may trade down, breakout occurred downside.

NSE:NIFTY   Nifty 50
208 6 2
NIFTY             finally broke the silence and breakout occurred and today seems to have turned in the bearish direction. nifty             may see first target from this breakout to the 50% of fibo level around 7894 in near term. traders may enter short in NIFTY             on retest of the resistance with a target of 7894.
Draw a trend line joining low of 21st and 24th November (on hourly chart ) and you will see today's fall was contained within that trend line (check Nifty post by abhishek Singh CMT). Than nifty will bounce if this trend line holds.

Now if you draw trend line by joining 21st November and 5 dec low , today's fall would be break .(Also its below the inner bar of 13 dec), Which gives target around 7850.

Lets see what will work , My view the second will work b'cas its basis is daily chart which will override any hourly chart.
Reply
@neneram, I personally study only daily chart EOD , which gives me clear picture of future movement. thanks,
Reply
@neneram, I didn't understand y don't u post ur idea....
Reply
neneram MehulJain3a
@MehulJain3a,

Hi ,

On nifty Hourly chart draw a trendline joining 21st november and 24 november low,you will get 15 december candles well within this trend line.(Refer Nifty post by Abhishek Singh CMT , i have mentioned it )

Now on Daily chart if you draw trend line by joining 21st November and 5 dec low , 15 dec candle will break trendline.

Thanks for asking your doubt ,Got something on trendline.
Keep on posting .
Reply
VaibhavKumarVIP MehulJain3a
@MehulJain3a,
Yeah exactly maybe he doesn't like sharing.
Reply
India
United States
United Kingdom
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out