Nifty Parallel Channel breakdown then New High 16000+

NSE:NIFTY   Nifty 50 Index
Just for study purpose only and should not be interpreted as a proposition to buy or sell in any securities.

Price was thrown out of channel making 15432 top now thrown under channel but only to go up.

14300-13900 reversal zone
Comment: Parallel lines are most undermined tool in the world of stock market.


NIfty showing weakness as RSI break 50 level and close below. PCR 1.66. now nifty is become sell on rise mode, if move up to 14720-60 can short as considerable OI seen at 14800 to 14900 levels , so most difficult to cross above 14800.
In this weakness nifty may come down up to 13921-14010 level soons.
13921-14020 is most important level for bounce and reversal, One time bounce must come here.
intermediate levels for bounce 14292 near.
+2 Reply
It seems logical due to golden ratio
+1 Reply
Good one 👍
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