Summary
l HTF is again in a make or break zone. DTF has a "Hammer" candle hence, probability of breakouts is high.
l 15901 is a critical level and if breakout fails again, we may see bearishness to test support again.
l 15439 is critical level and unless its breached in convincing manner my view will be bullish in medium term.
l Pivot analysis infers...
Summary
l HTF trend is bullish and any weakness is an opportunity to buy. Market I believe is soaking all supply hence, expect market to consolidate before moving upwards.
l Pivot analysis infers neutral bias, so direction is difficult to judge. Hence, opening print will confirm direction.
l Support levels 15700/15660.
l Resistance levels 15900/15850.
l Wait till...
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NIFTY SPOT- Blue Print for 16 -Jun-2021
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Market Structure/Trend Analysis/Chart Pattern.
l Chart Pattern - Higher High structure
l DTF Pivot Trend - Higher High Structure
l WTF Pivot Trend - Higher High Structure
l MTF Pivot trend...
Price is at all time high but no strength by the bulls. Better to stay on the sidelines than to take a fresh buy positions until 31900 is breached with strength.
