Short term trade break in price action levels mentioned on the chart, Looking price to bounce back after tuching the support.
Sideways
break in trade expecting short term Levels mentiond on the chart
resistence in our take profit. 65.01
Must Watch { Nifty on crucial levels!!! }Nifty is in a symmetric channel where there are 3 possibilites...
1. Chances are it may give breakout and follow uptrend channel which was happening from past days after little correction...
2. It May continue sideway move and give upside/downside move after few days
3. Breakdown, through which we may conclude that the nifty is ready for bigger correction...
Targets in Case of Breakout : 9710/9750/9800+
whereas SL will be : 9650
Targets in Case of Breakdown : 9535/9480/9360-
whereas SL will be : 9630
Note: Do your own study before making any position...
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RCOM Breaking Downside from Consolidation It is been observed that the price action is ranging in a consolidation and moving sideways on hourly chart. Now, it is breaking out from the consolidation and now it shall move further down to the retracement level of 61.8% at 44.25.
Target: 44.25
Stoploss: 47.50
Risk Reward: 1:4
