Nifty Analysis for Next week 30-06-2022
Nifty Accumulation Phase Identified on June 21 0008hrs
After accumulation in nifty price broke out and sustained above the accumulation range. and gave a retest twice ..
Second confirmation : A Symetrical triangle breakout and sustained above it all day on friday
Now we have a confirmation that price is about to go bullish for the time being .. So whats the target area (Or) a confirmation area where we can say that we hit the bottom and we are about to see bull run?
16000 - 16200 is the area where you can take confirmation as you can see there is a trend line that might act as resistance. If only this area is breached and sustained .. we can say yes we have hit our bottom.
16000 is a psycological level keep an eye on this area. Direction possibilities are givenon the chart
Second confirmation : A Symetrical triangle breakout and sustained above it all day on friday
Now we have a confirmation that price is about to go bullish for the time being .. So whats the target area (Or) a confirmation area where we can say that we hit the bottom and we are about to see bull run?
16000 - 16200 is the area where you can take confirmation as you can see there is a trend line that might act as resistance. If only this area is breached and sustained .. we can say yes we have hit our bottom.
16000 is a psycological level keep an eye on this area. Direction possibilities are givenon the chart
Trade active:
Yesterdays gap filled
Yesterdays gap filled
TeamTaurus
Trading range Given on monday still working as support and resistance Power of Analysis