Last Nifty Video Idea
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Last Price @ 16680
Day High @ 16712
Careful at the tops !!!
Last @ 16675
Bearish Candlestick Formation - Evening Stars at a crucial juncture of 16700 could be an important clue for Traders.
Evening Star Candlestick Pattern historically gave 60% strike rate.
Manage Your Risk properly & Trade. Thanks
Last Price @ 16632
16615-16625 is the support zone intraday & the break below will make it drop further or Index will retrace a bit.
How waves unfolded for the day
New high above 16702 as 16712-warned at 16680-drops to 16629-jumps back again to 16693-drops again to 16617 & finally closed at 16634.
As per the last update yesterday @ 14:50 Hrs ( 2:50 pm) - 16615-16625 is the support zone once that zone gives away & Index slips below -fall will continue else we see a little bit of retracement to 16660/16675 where the index faces another resistance.
Last Price @ 16654
Struggled close to 16615-16625 zone - made a small dip to 16611 & crossing the zone 16615-16625 on the upside -traveled close to 1st objective 16660.
Day High @ 16658
Last Price @ 16667
Key Resistance - 16695
Critical Resistance - 16712
Watch for resistance zone upside carefully. Till the time the key level holds i.e. 16695 on the upside - Index has fair chances of dropping back to 16615 & Falling below 16590- It will dip to 16520-16530 zone
Have a wonderful day ahead. Thanks
Last @ 16669
Struggling on the upside.
Just Manage your trades keeping in mind key level- 16695 - Any move above 16695 can make Index travel again for new highs above 16712.
If 16695 level hold & Index fails to cross above 16695 then most likely it drops to 16615 / below 16590 for 16520-16530 zone
Will it fall to 16615 & Below 16590 to 16530🤔Only time will let us know.
Abhishek H. Singh, CMT
Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Thank you for your valuable contribution to the TradingView community and keep up the good work!
Good clear chart with good clear explanation.
bearish Gartley pattern, we can not omit red candles and bring down B point to make it a bat pattern, but whether it is bat or gartley obvious projection is Prz zone. expectation of trend reversal.