It is forming a Bullish Harmonic Dragon which suggests levels of 260/285, double confirmation above 238. View would negate below 215. As per Ichimoku analysis also 438 is the hurdle for the up move.
Key resistance zone
Bat pattern completion on higher time frame
Would see some major pullback soon
Stop loss should not obvious
Follow if analysis is working or comment If not
Suggestions are welcome !!!
Just here spread good message among trading community
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed...
On evaluating the chart of Nifty 50 with option data and USDINR, it looks that market may be range bound till expiry. Wherein the 11300 levels will act as support and 11400 as a strong resistance levels.
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