NIFTY 50 - Long
Inside Candle pattern Formed
Will Go upwards in next few trading sessions.
Invest & Trade Wisely! Good Luck!
You can also see my other stock analysis and the results in my profile ideas. Please follow me , If you would like to see more ideas on winning stocks.
I am NOT a SEBI registered consultant/Advisor. It is...
NIFTY 50 Index (Chart as on 7 June 2021)
* Tested 4 times already at the bottom of the trend channel line and now moving upward
* break-out the head & shoulders pattern
* Clear Signal for a Bullish Market
* Still, chances are there to re-test at 15320-15400 range, as a small correction
* But overall it seems like a bull market for next 1000 points
nifty 50 made a descending triangle pattern in 15 min time frame
it is likely to move on up side in direction of a trend if it goes downwards then a small profit booking is
possible so keep the level in mind for 7th June.
The S&P 500 has shown a decent recovery in the last couple of days. (Inflation woes being resolved?)
The NIFTY is trading very close to its long term Weekly Trendline. Depending on global cues, will consolidate a bit and then make a good move on the upside.
*I reserve the right to be wrong.
For educational purposes only.
As you can see in chart nifty trapped between 14100 and 14950
Once it can Hold 14950 then going to 15250
But major supply zone was 14860 to 14950
In down side move Nifty major support was 14468 . If break it then next support its demand zone between 14256 to 14143.
nifty levels for 16/6/2020
note 9600 is strong support and 10000 is strong resistence
the levels which i have marked on the chart can be reversal also use your price action knowledge and trade safe
nifty in the still not bullish nor bearish just note the range and trade safely
just follow the market don't be bullish or bearish ...let market go on its direction we will trade on its direction an take profit
just follow the price action
coming to the point ; the range for nifty in this week could be ;
the upper price limit :10200
the middle upper...
NOTE THE POINTS WHITE LINES ARE INTERMIDIATE AND SL LINES GREEN ARE BUY AND TGT LINES
RED ARE SELL SIDE AND TGT LINES
BOOK PROFIT AS SOON AS POSSIBLE DONT BE GREEDY AND LET YOUR PROFIT GO
THIS ANALYSIS IS FOR EDUCATIONAL PURPOSE ONLY
TRADE @ YOUR OWN RISK