Today a V- shaped recovery has been seen in Niftybank from previous day's low of 41900 today it stand near 42500approx and it moves beyond that and went upto 42700. If this upward trend sustains above 42700 for tomorrow then it will hit 43000++ and will show strong momentum. But it has reversed somewhat today which shows a clear indication of inverted head and shoulder pattern on a 15 min timeframe which says if it crosses below 42300 and sustains below that then niftybank will hit 41900 and fall below that which will ruin everyone's portfolio to some extent.
So, basically what I am trying to say is that opening and the market momentum after half day will clear our confusion. Moreover DIIs buying in cash market was more than the sellings by FIIs today.
So, basically what I am trying to say is that opening and the market momentum after half day will clear our confusion. Moreover DIIs buying in cash market was more than the sellings by FIIs today.
Trade closed: target reached:
Beside giving the resistance line I have given the support which hit as it didn't able to sustain the 42300 level which gives a sharp fall. And it is currently trading near 41900.
Hope my post was helpful to assimilate the directional trading strategy.
Boost if you think it was helpful.
Comment if you want to give any suggestions or any mistake I had made
Thanks🙏🙏
Hope my post was helpful to assimilate the directional trading strategy.
Boost if you think it was helpful.
Comment if you want to give any suggestions or any mistake I had made
Thanks🙏🙏
