Nifty also took support from its major support level, i.e. 21800 today. This can act as a good support again too as it completed double bottom on daily charts. Volumes are also good enough so go long with today's low as stop-loss. Fresh shorts will only add up if we break 21780-800 levels with good bearish volumes. It rejected the lower end of the long term channel too and closed within the channel again taking support. It is also sideways in daily TF, within the yellow box, break and closing on either side of the box with a good volume follow-up candle would be great to go long or short ahead. As of now, we can see retracement up till 22305, and then post it if breaks and stays above 22420, we can see new ATH as well. Will take bearish trades only when it breaks 21800 and stays below it.
Also, please do your own analysis before taking a trade. This analysis can be considered for educational purposes only.
Also, please do your own analysis before taking a trade. This analysis can be considered for educational purposes only.