Nifty Monthly view since Inception.
Hey Everyone,
1)Structure -
Nifty playing around near the Important level ( blue line in pitchfork). Since inception , market did not break this line geometrically at monthly level.
2) Monthly Candle formation -
The January monthly candle is not completely formed yet, we have 10 more days to go. With trump taking over office from tomorrow and strict tariffs and sanctions can cause inflation to go high which may lead to faster rate cuts in US markets. This might provide a relief and upside movements globally can start in coming months.
January monthly close is very important, closing above 23260 is crucial and indicates demand to upside rally can start.
I know everyone ( even me to buy at more discount) is expecting a good downside move and all till 20K levels as per charts but price wise we are at a good demand zone for 28k 36k level next targets.
Monday is US markets holiday and Tuesday we will see how Global markets will react and what bills etc that trump is going to bring. Till Jan end , markets don't have a direction as per my view.
Happy Trading!!!!!!!!!
Cheers.
1)Structure -
Nifty playing around near the Important level ( blue line in pitchfork). Since inception , market did not break this line geometrically at monthly level.
2) Monthly Candle formation -
The January monthly candle is not completely formed yet, we have 10 more days to go. With trump taking over office from tomorrow and strict tariffs and sanctions can cause inflation to go high which may lead to faster rate cuts in US markets. This might provide a relief and upside movements globally can start in coming months.
January monthly close is very important, closing above 23260 is crucial and indicates demand to upside rally can start.
I know everyone ( even me to buy at more discount) is expecting a good downside move and all till 20K levels as per charts but price wise we are at a good demand zone for 28k 36k level next targets.
Monday is US markets holiday and Tuesday we will see how Global markets will react and what bills etc that trump is going to bring. Till Jan end , markets don't have a direction as per my view.
Happy Trading!!!!!!!!!
Cheers.
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