Sgxnifty50
SGX prediction based on support resistence levelsSGX:IN1! sgxnifty has formed a nice parallel channel going upwards, after breaking the daily trendline we can expect a sideways pause and then more upside till 18000 level above 17750 closing,
current fresh support zones are 17592/17569 and 17499/17480.
if we gwt a parallel channel break on down side then we might retest 17500,17480 support zones before starting upside journey again.
SGX BREAKS DAILT TRENDLINE, NEXT POSSIBE TARGETSSGX:IN1! SGXNIFTY breaks the trendline of daily timeframe with little to nothing struggle,
can retest the trendline on new support zones formed before moving towards next targets on upside .
be carefull for possible fake breakput scenario which can push marjet dow again , which is unlikey to happen but still manage your risks while following sgx upside move. SGX:IN1!
SGX prediction based on support resistence levels on daily/houreSGX:IN1! sgxnifty is approaching crucial trendline of daily timeframe with 2 resistance zones present at/near the trendline,
first resistanse zone is 17500/17057 and the next immediate resistance zone is 17632/17713 which is inline with trendline and can trigger the next corrective fall if respected by sgx.
fresh strong support zone is formed at the levels of 17326/17256.
if the trendline and resistance zone of 17713 is broken, next immidiate can be 18000 level after trendline retest or retest from current resistance of 17500/17057.