TraderRahulPal

Nifty Short term to Mid Term Technical View

Long
NSE:NIFTY   Nifty 50 Index
Nifty forms Doji pattern on weekly, daily charts,, Nifty has to stay above 17800 for up move.

Zone of 17650-17700 is likely to be the crucial support area for the index in the coming sessions.

Nifty remained range bound in a choppy session and closes 37 points lower at 17856 on last friday,

Nifty formed a Doji pattern on the daily charts but smartly defended 17800 level for the third day in a row.

During the week, the index closed flat with a positive bias and formed inside body candle as well as a Doji pattern on the weekly scale, indicating indecisiveness among bulls and bears about the market trend.
For trader 17900 would be the immediate breakout level to watch out for, above which the index can move to 18200. for breakout a small downside would be possible according to MACD which can be 70-100 points.

A fresh selloff is possible if the index slips below 17750 and the selling pressure can accelerate to 17500-17400 levels.

if both side our target got done and level got sustained above given area,,, then we can go another highs and low either side. well we are expecting a breakout very soon.

Please guy's if you like my effort please like, follow and comment your thought too on nifty or idea put by me.
Thankyou.

Best Regards,
Rahul Pal
(Full Time Trader & Investor)

Join Free telegram t.me/TraderRahulPal1

Contact us for High Accuracy above 85% Paid Trading Advisory & Portfolio Management Services & Learning Programmes.
Whatsapp:- +919560604457
Disclaimer

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.