There is a long term ascending channel that nifty has traded for almost 12 years. It broke the channel on down side in a very decisive way in 2020, and then got back again into the channel (fast and furious :-)) . Since then it followed another ascending channel (shown in the chart) which is quite sharp. In April 2021, it left this sharp channel ...
* 35800 Level acted as Resistance level previously if price sustain above 35800 level chances of up move upto 36000-36500
* If market face Resistance @35800 level then 35500-35300 levels will act as support.
>> Always Enter With good confirmation & Maintain proper Risk Reward.
******* Knowledge Purpose only ********
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Above 15050 Nifty is in uptrend. But we can expect profit booking at 15300-15400 range.
Major Support: 15150
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Failure to break 14900-15000 the price has again came within bearish range that is followed from March month., Breaking the friday low may start a bearish trend in nifty.
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**These Positional Swing numbers are valid for 19th FEB 2021 ONLY and new numbers will be generated on 19th FEB EOD ,after 3.30 PM for 22nd FEB**
Performance Report :(as of 17 FEB)
Current Position is Buy, bought on 01-FEB-2021 at 515.07
Action for Next...
First step of a successful trader is to build a Trade plan & review what he has done.
This Channel is my Journey in Stock market as a Trader.
This is my Trade Journal for Nifty & Bank Nifty . (education purpose for all )
Here, I will disclosed my Trade plan for trading day & review them, share my learnings.
with hope that this will add value to your trade setup...