Today Nifty gave a beautiful Double Bottom Breakout, now i can anticipate these two paths A & B, Hit like if u agree. This is an Hourly chart to make u understand the double bottom formation.
#nifty future resisted near channel top of 17400
and making head and shoulder pattern...
moving towards middle line of channel and neck line of channel
near 16925-- 16800
now immediate channel resistance is 16225---16280
mkt "sell on rise " mode
Nifty future are forming a perfect head and shoulder pattern on 15 minute chart frame.
If the structure breaks down, good targets can be achieved.
Wait for the pattern break down for entering the trade.
Support :- 17510, 17480, 17400
Resistance:- 17590, 17700
Nifty is heavily bearish, for a decent and sustainable bullish move maximum volume must come above 17633.90 levels. Otherwise the current chart condition is favorable for bears.
Hello Traders,
NIFTY-21/02/2022-LEVELS
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If Market Opens as a-
GAP-UP: Support of R@1 (BUY) – Rejection of IMP (SELL)
FLAT: Support of R@1 (BUY) – Rejection of S@1 (SELL)
GAP-DOWN: Support of PDL (BUY) – Rejection of PDL (SELL)
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Happy Learning and Trading.
Rules to fallow...
1) Trade...
