Base Timeframe: 4-hour chart and some time from 30 minut time frame
Formula Used:
(High + Low) / Closing Price = Squre root of Previous Day Closing Level
This formula is used to calculate key reference levels
Extra Filter for today Level making ,6 Support and Resistance levels derived from last three days price action on above formula
Expected Opening Around 24388
Initial Move Possible rise to 24441
Key Trading Triggers
Bullish Scenario
If Nifty sustains above 24448 and bn pattern forms in the 5 min chart
targatw will be 24520, 24601
Bearish Scenario
If Nifty fails to hold 24352
Downside to 24283
Then sideways movement
Support:
24279
24221
24144
Resistance:
24445,24521,24601
Formula Used:
(High + Low) / Closing Price = Squre root of Previous Day Closing Level
This formula is used to calculate key reference levels
Extra Filter for today Level making ,6 Support and Resistance levels derived from last three days price action on above formula
Expected Opening Around 24388
Initial Move Possible rise to 24441
Key Trading Triggers
Bullish Scenario
If Nifty sustains above 24448 and bn pattern forms in the 5 min chart
targatw will be 24520, 24601
Bearish Scenario
If Nifty fails to hold 24352
Downside to 24283
Then sideways movement
Support:
24279
24221
24144
Resistance:
24445,24521,24601
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.
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.