Mighty Nifty - This week!

NSE:NIFTY   Nifty 50 Index
537 4
For few days price action was trending within the range 10700 - 10840. Now its moving towards the support at 10700. On breaking it, price will move towards 10640, 10580 and 10520.
Comment: Does the price action forming downward channel ?
Comment: Moving towards support
Comment: Support taken!
Comment: broken :)
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Ideally, to form a channel, we need HH or LL. We just cant start a channel in between.
In price-action, inclined channel (for example downward channel) indicates, the rate of loss of momentum by BULLS = rate of gain of momentum by BEARS
vanathi sassy_ankit
@sassy_ankit, Thanks for the information
+1 Reply
Good. Looks like it stayed with the channel.
vanathi ShanTrader
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