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
1st Bullish Sign if Nifty will give daily close or sustain above 11200. In this case Nifty may test its next Major Supply Zone @ 11300. and in any case If it will manage to sustain above 11300 then it my test its next Supply Zones @ 11350-11450.
There are multiple Demand Zones between 11050 to 11200. In any case if it will give daily close or sustain below 11200...
Right now Nifty is trading in the no trade zone.
There are two important level for the Nifty: 1st: 11200 and 2nd: 11050
Importance of 11200 level : In intraday if Nifty will trade above 11200 but not above to trade or sustain above 11250 then I will consider this as a fake upside move but in intraday if Nifty will sustain above 11250 and give close...
NIFTY close @ 9250. On the upside, there is a major supply zone near the 10000 levels.
And on the downside, there is a major demand zone for this week near the 8800-9000 zone.
Below 8800 next demand zone @ near 8500.
Nifty is making lower highs and lower low in higher time frame Nifty closed @ 12080 and there are multiple supply and demand zones in 12980-12200.
I am Bearish in Nifty but I will trade in Nifty once it will start respecting any supply and demand zone between 12980-12200 or sustaining below 11980 or 12200.
Lets Quickly Check Weekly Chart, So this week nifty closed on negative note ( -70 points). Weekly opening was quite and Nifty also tried to fill the gap created in Feb18, however it did not closed above it on weekly basis.
As i have mentioned in my previous post , that Nifty has this Gap on its weekly chart from where it has seen quite a fall, and for any...