As we can see on 06th Oct Nifty made bearish engulfing candlestick pattern on daily TF, The level between 17881-17768 is crucial to decide the momentum of the market if the resistance 17881 breaks and sustain for about 15 min then we can expect up move in the market, but if 17768 Support will break then the market will fall up to 17550 levels to fill the previous...
Nifty setup for next week is quite interesting. Nifty is at critical juncture or say make or break level.
Nifty is trying to give breakout on weekly as well as monthly chart however failing to close above the desired level.
Important points to consider next week:
- Nifty break 15901 level convincingly with good volume for strength breakout
Break out from Triple zigzag correction's upper wedge line is already happened. Now we need to concentrate on the bounce from 14151. And in this video I have tried to explain the same in detail.
Thanks for watching
Buy Level = Above 14890 (Target 1 - 15000, Target 2 - 15330)
Sell Level = Below 14750 ( Target 1 - 14600, Target 2 - 14500)
Please comment and let me know if you have any other ideas or observations or queries. Please feel free to reach out to me on Trading View.
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