Nifty 50 : Price Prediction Jun-2022
Hourly time frame: As per the chart, Nifty 50 has broken the 150 Moving average level and it also sustained above 150 MA level
Current Chart Structure:
Descending Triangle Pattern, Generally, this pattern is a bearish pattern. However, a descending triangle pattern can also be bullish.
so that time we call as a reversal pattern
Moving Average 150MA:
In the hourly time frame price is observed above 150MA, which indicates the structure is Bullish for a short period of time
Resistance/Support Level
The minor resistance level at 16840 and the minor support level at 16200.
16840 Levels seems to be a more promising level, If nifty has crossed above 16840 then we may see nifty at the 17380 level soon..
What will happen if nifty break 16200 level ? Stay tuned, I will update you
Current Chart Structure:
Descending Triangle Pattern, Generally, this pattern is a bearish pattern. However, a descending triangle pattern can also be bullish.
so that time we call as a reversal pattern
Moving Average 150MA:
In the hourly time frame price is observed above 150MA, which indicates the structure is Bullish for a short period of time
Resistance/Support Level
The minor resistance level at 16840 and the minor support level at 16200.
16840 Levels seems to be a more promising level, If nifty has crossed above 16840 then we may see nifty at the 17380 level soon..
What will happen if nifty break 16200 level ? Stay tuned, I will update you
Note
Nifty has pull backed from 16490 levelTrade closed: stop reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.