NIFTY 50 TRADE PLAN FOR 05-01-2023
NIFTY is at Crucial Support of the 18000 zone and today is the weekly expiry. Therefore we can expect volatility in the market and there can be Fake Breakouts.
1. Nifty closed at 0.5 FIB Zone and if it sustains there and crosses 0.382 FIB along with the resistance trendline, Will take a bullish entry on a proper retest.
2. If Nifty breaks the 18000 zone and Important hourly support trend line. My view will be bearish for the short term. The next support will be 17800. There are many GAPS pending below 17800 and I think market will fill those gaps, once 17800 is broken
ps: Budget Session is ahead - Trade with Proper Risk Management.
1. Nifty closed at 0.5 FIB Zone and if it sustains there and crosses 0.382 FIB along with the resistance trendline, Will take a bullish entry on a proper retest.
2. If Nifty breaks the 18000 zone and Important hourly support trend line. My view will be bearish for the short term. The next support will be 17800. There are many GAPS pending below 17800 and I think market will fill those gaps, once 17800 is broken
ps: Budget Session is ahead - Trade with Proper Risk Management.
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