S&P CNX NIFTY INDEX FUTURESUpdated 5693 Possibility of formation of inside candle today
Reason for trading range.
a) opening is between yesterday mid point and low. Hence there is a possibility of trading range with consolidation bias
b) Big round number attraction of 16000 possible only, if nifty breaks yesterdays low
c) 16500 is going to form a resistance, if it breaks high possibility of closing the gap.
Daily time frame, nifty broken 5 month low and now in wave 3 for down side
a) opening is between yesterday mid point and low. Hence there is a possibility of trading range with consolidation bias
b) Big round number attraction of 16000 possible only, if nifty breaks yesterdays low
c) 16500 is going to form a resistance, if it breaks high possibility of closing the gap.
Daily time frame, nifty broken 5 month low and now in wave 3 for down side
Trade closed: target reached
formed the inside candle, but not tested low of the day throughtout the day
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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.