NIFTY
As you can see in the chart, Nifty is near a very important resistance level! I will be going long on stocks ONLY IF Nifty gives 2 successive DAILY candle closes above the resistance trendline. I will be waiting for a confirmation before entering any trades for now! You can go through my previous post on how DXY affects the stock markets and how it can give you an added bias towards your trading.
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#trading #nifty #breakout #breakdown #stockmarket
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Nifty has shown rejection from the resistance levels and has formed 2 big bearish candles on the daily time frame after a breakout proving that the breakout was fake.