Looks like a bullish flag was made and Nifty did attempt to break it yesterday itself. Let's see where we open today but I think the bull rally should be back very soon.
There is a good support at 17274.50 level so the stoploss should be 17250 closing basis.
Long traders should keep the targets open as the nifty still has steam and we may see 17650 /...
1. If market open gap up near resistance area (18160 to 18180 ) watch for reversal and if price consolidate near resistance and gives breakout go for the target of 18257 and 18313
2. Best Condition is if market opens flat ( 18132 to 18080 ) after consolidating for 5 min market goes in whichever direction sit in the trade breakout targets are 18165, 18204 , 18257
Stock -> Granules
TimeFrame -> Weekly
Granules has been forming a flag and pole pattern.
It finally broke out of the flag in the last week of September with heavy volumes and I believe this generates a good opportunity to go long!
There are multiple other factors that strengthen my conviction on going long
-The stock is taking support...
this levels are for nifty
all levels are important
all levels are based on price action
& my view is a small correction
global ,market indicating gap down opening
DISCLAMIER - this is my view on nifty & i don't provide any call & tips
As, I has shared a weekly chart of banknifty last week, where I said about breaking a certain weekly level. So, in this week after the resistance breaks , the index takes support and resistance from that weekly trend line . It is clearly visible from 15min chart, so keep your analysis according to weekly trends .
Thats for the week.
Amid Russia-Ukraine war, domestic markets are taking the hit as indices falling sharply more than the rise. Bearish rising wedge is formed on hourly tf in banknifty indicating more pain ahead. Good for traders but bad news for investors.
Finally, Nifty has taken a move out of its consolidation zone. Wherein, it has taken a move towards the downside levels.
Moreover, Just as we had stated, similarly we could very well see how this week was somehow very crucial for the Market Participants. Also, as had been clearly stated this week has given us a clear cut indication for the...