Nifty break down the rising wedge pattern and pullback also completed.
👉In 4hr timeframe , rsi shows negative divergence .
👉And Fibonacci 0.5 % rejection ..
with all the confirmation, nifty will untill 17600 levels .
This is positional view ....
18300 stoploss .
Disclaimer:
Don't blindly follow my levels , apply your technical analysis skill also ...
Current global cues is positive now . But ,sgx nifty is in value zone. 18300 to 18450 is most traded area (value zone ) so, my analysis is market will traded in between this level as a sideways. Still now i can't find who is the winner either bulls or bears .. i am also waiting for 3days to see the winners, but both are strong now ..let's see what happens...
Once the channel is broken we will decide the hdfc banks direction.
Still now trend is not confirmed... Wait till channel is broken either downside or upside.....
Don't jump into the trade blindly like gambling..
In this analysis , i draw a possible direction for next move..right now sgx nifty broken the minor resistance level..and retest is going on.. once sgx nifty broken 18400 level and sustained more than one hour above 18400 means , we can expect 18600 before this November... Take this analysis as a educational purposes.... I am not a SEBI regi.i just show my view.....
