Nifty50 Chart Analysis - 20-08-24 TuesdayNSE:NIFTY
Timeframe- 30 min chart
Validity - Current Week
➖ Boring /Dull Move in Last Session, Totally range bound after gapup open.
👉PCR -1.0
👉INDIAVIX - 14.31 (Normal)
🏦 Cash activity
FII- Net SELL (-2667) Cr
DII- Net BUY 1803 Cr
🌐US Markets Last day movement.
DJI:- Bullish by 336+ point.
Nasdaq: Bullish up by 357+points.
#GIFTNIFTY - 40 points up.’
👉NiftySupport 24460,24220,24080.
👉NiftyResistance 24640,24850.
🔹(Same as yesterday )Verdict:- 2 scenarios.
1. Breakout of the channel if the 30-minute candle is above - 24640 then only long side momentum will build up.
2. Reversal from the channel. 24550 range.
Use Appropriate stops to avoid big drawdowns.
Not a buy/sell just for educational purposes.
Keep learning,
Happy trading.
