Nifty: Chart set up and trading view for Nifty
Nifty
Closing Price 12073
- this is an hourly chart for Nifty
- Nifty has been trading between red parallel lines for most of the time
- it saw an extension on the lower side around 14th November but managed to stay within the broader green parallel channel
- now it is in the extension zone on the upside
Strategy
Look for selling opportunity if Nifty does not breach 12120 on the upside
Target for the current set up 12009 / 11965 / 11880 /11786
Pattern gets invalidated if Nifty closes above 12120 on hourly chart
Take care & safe trading...!!!
Closing Price 12073
- this is an hourly chart for Nifty
- Nifty has been trading between red parallel lines for most of the time
- it saw an extension on the lower side around 14th November but managed to stay within the broader green parallel channel
- now it is in the extension zone on the upside
Strategy
Look for selling opportunity if Nifty does not breach 12120 on the upside
Target for the current set up 12009 / 11965 / 11880 /11786
Pattern gets invalidated if Nifty closes above 12120 on hourly chart
Take care & safe trading...!!!
Trade active:
On an hourly chart closing is at 12098
On an hourly chart closing is at 12098
Comment:
Target 1 of 12009 achieved. Nifty made a low of 12006
