Nifty50 at Daily time frame - Moving in a range since Feb 2024, touched Upper Trendline 3 times and reversed, now touched Trendline for the 4th time on 23-24may, completed the target of 900points of Hammer Candle on 13th May.
There is probability of touching 24000 in a few days, right now 22500 is a Support.
For learning and educational purposes only.
There is probability of touching 24000 in a few days, right now 22500 is a Support.
For learning and educational purposes only.
Trade closed: target reached:
Today Nifty touched 23338, news driven market. Exit Polls on Saturday dominated the market today, gap up.
Comment:
Nifty again moved between the same range even though market was news driven. A hammer candle is visible at 1hr chart, you may check that, from there reversal happened.
Finding right Support, Resistance levels and drawing right trendlines are enough, less is more. By practicing this we can learn and start taking our own trade.
For learning and educational purpose only.
Finding right Support, Resistance levels and drawing right trendlines are enough, less is more. By practicing this we can learn and start taking our own trade.
For learning and educational purpose only.
Now 23000 is becoming a resistance.
For learning and educational purposes only.