on the hourly chart nifty showed a break above 20 ma and a close above it. 1. this indicates the profit booking by the bears. 2. market may consolidate between the low to 17331 levels. unless a strong break or strong rejection from the moving average is noticed further down move is awaited.
on the hourly chart, nifty formed a pause candle. 1. there is wide gap between the nifty value and the moving average . 2. pause bar indicates the resting of bulls and bears until a clear signal is obtained to trade.
1. nifty after the downtrend, is consolidating in the zone 17350-17450 levels. 2. Attempts were made for break out but failed
nifty closing in the given levels is a caution. past trade is shown as 1 and 2 with an opening at a large gap down. this time it may repeat also
nifty is consolidating, but the consolidation is further forming a downtrend in channel formation so be cautious about buying the calls
nifty is running down from last 4 days. we see buying at the lower levels 17450 which is indicating buying pressure building at lower levels nifty may consolidate and close today below 17650.