NSE:NIFTY   Nifty 50 Index
It is been observed on the hourly chart that the price action trending aggressively up from 7900 levels to 8450 levels (550+ points). Now, it is consolidating in a range of 8380 -8455 (75+ points). It is facing resistance at 8455 levels and made a double top at the same levels. Now, it is consolidating in a triangle and further breakout shall decide the movement of the market.

Action Plans:

Plan 1: Breakout above 8455 levels, shall trigger buy to reach target 8520 levels.

Plan 2: Breakout below 8400 levels, shall trigger sell to reach target of 8325 levels.

I shall appreciate your views on it in order to bring clarity.

Trade active: Reaching to the downside Target of 8325 levels. Regards
Trade closed: target reached: Nifty reached both targets today, firstly on downside and then upside as marked below,


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.