NIFTY: 15800 or 17200, which would come first?
1. NIFTY is making Lower Highs on Daily Time Frame.
2. Falling Trend Line is acting as tough resistance. Until NIFTY closes above this decisively, we'd remain bearish or sideways.
3. Similarly, 16500/16200 would act as strong support followed by 15900. Need to break these decisively for downtrend.
4. Nearest resistances at 200 EMA & SMA and Support at 16500.
5. Unless there's a big news, expecting a volatile market for coming days playing within the range of 16200 - 16900
6. Safe traders must stay away until there's clear direction. For any investment, contact your financial adviser as above view is for educational purpose.
7. If you find worth it, do Like, Share and Comment on the chart! :-)
2. Falling Trend Line is acting as tough resistance. Until NIFTY closes above this decisively, we'd remain bearish or sideways.
3. Similarly, 16500/16200 would act as strong support followed by 15900. Need to break these decisively for downtrend.
4. Nearest resistances at 200 EMA & SMA and Support at 16500.
5. Unless there's a big news, expecting a volatile market for coming days playing within the range of 16200 - 16900
6. Safe traders must stay away until there's clear direction. For any investment, contact your financial adviser as above view is for educational purpose.
7. If you find worth it, do Like, Share and Comment on the chart! :-)
Trade active:
Made low of 16133 and beautifully respected the support zone marker by 2 Blue Horizontal lines. Monday will confirm the trend.
Trade closed: target reached:
Closed at 15800. Target achieved!