It is been observed on the daily chart that the price action is bouncing back up to fill the previous gap down levels. It shall further climb up. It is positional trade setup can go long for weeks.
Target 1- 535
Target 2- 550
It is been observed on the hourly chart that the price action is forming higher highs and higher lows indicating a trend moving to upside. Now, it has further broken above the prevailing resistance level of 507-510 and now further move to 520 levels to fill up the gap zone.
It is been observed on the hourly chart that the price action making a higher highs and higher lows, indicating further up move ahead. It is also observed that the price action may reach out to the gap zone to fill up the Gap.
Target 1: 61
Target 2: 63
Welcome Monday ! We are ready...
Today we have simple ABCD trade setup bcos the Nifty move is yet to complete and with initial look itself we can predict we have support zone for Nifty created by Gaps. Even if Gap down happens today, I hope that will be in previous Gap Zone 8850's -8820's. Check with few fib ratio's over AB leg, ext. fall within zone. So if we...