NIFTY 50 Upcoming Weeks View - Potential Trend Deciding Week
Hi Friends and Fellow Traders,
Nifty has been witnessing volatile sessions last few weeks and the upcoming week may not be much different until a deciding breakdown or breakout takes place.
The charts have been outlined with my view and I advise caution on the BUY and SELL side unless there is a decisive breakout above 14960 or a breakdown below 14687.
NIFTY is still in an uptrend and strongly supported at levels of 14640-14687.
A decisive breakdown , followed by a retest would be an ideal entry for SHORT.
Any Major Gap Down opening would be potentially received with aggressive buying.
For the market to fall to lower levels, it will have to open Flat and make its way through the support Zone at 14840-14880 followed by breakdown of the trendline and subsequently taken out the LOWS of 14640-14687
My Stance on the index is thus neutral and I shall be watching the price action as per the outlined trading plan on the charts.
Thanks
4STech
Nifty has been witnessing volatile sessions last few weeks and the upcoming week may not be much different until a deciding breakdown or breakout takes place.
The charts have been outlined with my view and I advise caution on the BUY and SELL side unless there is a decisive breakout above 14960 or a breakdown below 14687.
NIFTY is still in an uptrend and strongly supported at levels of 14640-14687.
A decisive breakdown , followed by a retest would be an ideal entry for SHORT.
Any Major Gap Down opening would be potentially received with aggressive buying.
For the market to fall to lower levels, it will have to open Flat and make its way through the support Zone at 14840-14880 followed by breakdown of the trendline and subsequently taken out the LOWS of 14640-14687
My Stance on the index is thus neutral and I shall be watching the price action as per the outlined trading plan on the charts.
Thanks
4STech
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