IF FIRST 5MIN candle touch blue line than we can go for long or orange line touched we can go for
INDEXNSE: NIFTY_BANK Looking Bearish Go For Short-Selling.
we can go for short after breakout
WITH CONTINUATION FROM DAILY TO 4 HOUR TIME FRAME - THERE SEEMS TO BE DESCENDING TRIANGLE FORMATION CURRENTLY ITS TAKING SUPPORT @ TREND LINE OF FORMATION A BREAK BELOW - FALL WHICH WILL COINCIDE WITH DAILY FRAME ANALYSIS. IF NOT CAN GO BACK TO RETEST NECK LINE ON WATCH-LIST NOW disclaimer - join your own study to enter a trade
ONLY FOR EDUCATIONAL PURPOSE
The possible support and resistance are given. Trading the small range breakout is advisable. With lockdown in some states, the price should further go down. This could be a possible pullback, but with the lockdown restrictions in some states and increasing coronavirus, the sentiment of the market could result in a red candle day. As the big support is broken on...
we can wait for pull back or otherwise can enter current market price... Target your self
Please Note : These are buy/sell level . these levels has to breakout in minimum 15 min candle .. Reaching this level is not valid & Fake break out can be identified by RSI and other indicators
Nifty as usual forming HH and HL, but onto wave form pattern we can see a downtrend and my analysis says that the downtrend is made on the inverse penant pattern with Elliot waves. Short below 9291 with SL 9367 (76 points) with targets of 9250 9110.
Nifty changed -0.75 point during the week and made third consecutive Doji, this completes a Tri Star Doji Pattern. Tri Star is a rare (more so on weekly charts) and significant pattern, indicates extreme indecisiveness. The pattern is generally followed by a trend reversal and sometimes strong trend continuation . Nifty has actually moved some 14 points...
AS WE CAN SEE ....WE HAVE FINALLY FILLED THE GAP IN NIFTY TODAY .......... NOW WE CAN BE BULLISH ON IT FOR THE TARGET OF 11320 IT IS QUITE A CONSERVATIVE TARGET BUT IT IS QUITE PRACTICAL ONE. HAPPY TRADING :)