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.
Regards,
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.
Regards,
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,
Regards
Regards
