Weaknesses is increasing in nifty day by day.
As you see in chart nifty made all time high @ 18887.6.
Also, Yesterday nifty tried to go up but it was a trap (we discussed it in my early post).
Now, In chart you can observe that nifty has strong resistance which is indicated with red line.
Today, nifty gave us false signal at point B.
So, we can consider Yesterday's low as support which is confirmed by today's low @ 14:15PM candle.
18550-18525 (Blue box) is considered as resistance for tomorrow.
At last point A is the most important.
Volumes in both candles are almost equal but last candle can't break second last candle's high.
In conclusion, Nifty is still in pressure.
As you see in chart nifty made all time high @ 18887.6.
Also, Yesterday nifty tried to go up but it was a trap (we discussed it in my early post).
Now, In chart you can observe that nifty has strong resistance which is indicated with red line.
Today, nifty gave us false signal at point B.
So, we can consider Yesterday's low as support which is confirmed by today's low @ 14:15PM candle.
18550-18525 (Blue box) is considered as resistance for tomorrow.
At last point A is the most important.
Volumes in both candles are almost equal but last candle can't break second last candle's high.
In conclusion, Nifty is still in pressure.