Nifty is trading near breakout zone. Breaking above 17700 can lead this strong up trend till 18100.
On the flip side 17500 will act as a strong support zone.
Hello Traders!
1. We can see an ending diagonal forming on the Nifty50 chart on the 1hr tf .
2. The retracement levels have been mentioned which gives us more evidence of the market following the wave pattern.
3. We see a strong trend resistance of the market. Once the resistance is cleared, we can look forwards to buying calls or selling puts, whatever...
Nifty seems to be bullish if it breaks the above trend line and sustain for few hours or a day at least
Zones Above - 18123-136, 18161-183, 18238-250
Zones Below - 18078-063, 18032-016, 17955-926
Nifty Broke out from descending trend channel signaling bullish momentum ahead, now untill Nifty remains above this channel then it can go till 17600 which can be a resistance while 17200 is a possible support zone.
A flag chart pattern is formed when the market consolidates in a narrow range after a sharp move. Flags can be seen in any time frame but normally consist of about five to 15 price bars, although that is not a set rule. Flags are excellent chart-pattern-trading candidates. They're generally small, which means high reward from low risk.
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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...
Hi All,
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
- Nifty...
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.
We are near narrow zone of the triangle, act upon breakout, trade with caution as traders are confused because of the pandemic
Follow For Pure Price action charts and not calls 😉
Are you guys overloaded with Diwali sweets ? Here is another short & sweet setup in Nifty. You guys are awesome, so just with look over the above chart you might have realized we are looking for Breakout. Though we are bit undecided about direction of breakout, take care of false breakouts with proper stops & quick reversal on opp. direction move. This is the only...
So today in Nifty 15 mins we can expect the breakout of head and shoulders pattern and a move downside. Why we are expecting downside breakout ? Well, then only My last two days post will be right prediction :) We have same amount of chances to take support on trendline and move up. So watch Nifty carefully, won't you love it if the breakout happens & get a ride...
