Hey guys we're looking at the bank nifty hourly chart and welcome back!
Let's see what the range and trading levels are for Monday the 18th as you can see I'm taking the sixth April high here as my first resistance level
My fifth April high at as the second resistance and the red lines emanating from these respective resistances are your gone angle resistance...
Market closed at 17894.
We can see 1 Gap is pending (17990) & another Gap is below at (17389).
In between that i have marked Important Support at (17754) & if this has taken out then market will try to fill the Gap which is 17389 slowly & gradually.
Market 1: If we see 17990 was taken out with huge gap-up opening then need to wait for at least 15...
NIFTY after a superb rally is now consolidating and now tried to break the highs for the third time and failed. Expecting a sideways to down movement to catch up with the average price.
Important levels mentioned in the video.
Both titans are on the opposite side.....Once they sync a new rally can be expected on either side.
Till then avoid aggressive trading. Stay conservative.
Stay safe and trade safe.
Note: The above is strictly my view and not a trade recommendation. Consult your financial advisor before making any trade.