From new traders to experienced traders, the most under valued technical tool is trend line. Since everybody thinks its easy to draw the trend line, they dont give much attention to it.
I have connected A & B to draw the trend line 2 weeks before. When I analysed for this week's move, I just extended the same trend line and it is marked as dotted yellow line. ...
Sustaining 11480 - 11510 will make the price to move towards 11560, 11620, 11660, 11720 and 11780. Bearish below 11460 for the targets 11420, 11360, 11320, 11280 and 11240.
Nifty Analysis..
Current support is at 11498... if close below then the next support range will be 11464-1144
on an upside, there is resistance at 11556-11600...
OI Analysis-
11400-11450-11500 has more put writing and it can act as support areas...whereas there is call writing in strike 11550-11600-11650 which can act as resistance zones...
Sustaining 11480 - 11500 will make the prive to move towards 11540, 11590, 11620, 11680 and 11720.
Bearish below 11420 for the targets 11380, 11340, 11280, 11220 and 11180.
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Good luck
I am travelling so next week i will post Video on volume Profile
So excited to see futures chart in trading view And once again new journey starts along with the most powerful index Nifty. Strong support is seen at 11250 - 11280. Resistance is seen at 11340 - 11360.
A POTENTIAL Head & Shoulders pattern forming on 4H Chart of NIFTY SEP FUTURE. SELL 11260, SL 11475.1, Target(s) - 11150, 11050, 11000. Measurement = 514. 11235 , 11130 and 11030 are the key levels. Below 11000, 10860-70 can be expected. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
