Nifty Breakout expected soon!1. Weekly demand and supply zones are identified with the black horizontal lines
2. only act on the breakout confirmation - till then you can trade intra-day strategies. I suggest you to use 60 min or a 30 min timeline!
3. Weekly gap at a previous support now acting as a resistance shown by the yellow zone and black dotted line respectively
Trade with caution as it is sqeezing!
X-indicator
CNX FINANCIALS & NIFTY PVT BANKSBoth CNX FINANCIALS & NIFTY PVT BANK indexes have made Bearish Harmonic AB=CD which also happens to be v close to their weekly & monthly Ichimoku resistance. Financials could retrace till 10500 while Pvt Banks could retrace till 11500. View would negate if they move and sustain above 11500 & 13100 respectively.
PVRIn hourly time frame it has given a breakout which suggests a probable retracement till 1110/1140 as long as it does not breach 1040
HDFC - Bears will be in control below 1850* Horizontal trendline resistance
* Wyckoff distribution
* Southwards moving RSI