Nifty Futures
Now, there is a slight conflit in ideas here. If you check the daily chart of Nifty futures, the candles have closed above the mid-average of the trendline but if you see the charts of Nifty spot, the candles have not been able to sustain above the mid-average.
Now, another thing which is making me skeptical is the trend on 15m charts. You can see that the chart is clearly breaking away from the uptrend and now we have to watch if we see the charts fighting back today.
My suggestion is to wait but if you have to trade, like, if you are an impulsive trader then you should buy on dips.
Support is at at around 14990 levels and resistance, as seen yesterday as well is at 15230 levels.
Now, there is a slight conflit in ideas here. If you check the daily chart of Nifty futures, the candles have closed above the mid-average of the trendline but if you see the charts of Nifty spot, the candles have not been able to sustain above the mid-average.
Now, another thing which is making me skeptical is the trend on 15m charts. You can see that the chart is clearly breaking away from the uptrend and now we have to watch if we see the charts fighting back today.
My suggestion is to wait but if you have to trade, like, if you are an impulsive trader then you should buy on dips.
Support is at at around 14990 levels and resistance, as seen yesterday as well is at 15230 levels.