Disclaimer: All the mentioned view and analysis is NOT an Investment or any kind for financial advice. These levels are just for educational purpose.
"This is the revised idea that I posed on MONDAY."
In the past sessions we have seen a Bearish movement in the smaller timeframe although we are in a Bullish trend in the Bigger timeframe and currently, we are trading near an important level which will help to decide whether Nifty is going with the bigger picture (BULLISH) or it wants to continue further bearish movement.
As we know that Technical analysis consists of calculated probability and its very subjective, which vary from person to person.
In order to make it simple and objective based, I always try to plot both Bullish and Bearish level.
Club these levels with your existing trading style and strategy to get an edge.
I will Update these levels as and when required either in this Idea or in the MINDS section.
Do subscribe to get notified quickly as and when i make an Update.
"This is the revised idea that I posed on MONDAY."
In the past sessions we have seen a Bearish movement in the smaller timeframe although we are in a Bullish trend in the Bigger timeframe and currently, we are trading near an important level which will help to decide whether Nifty is going with the bigger picture (BULLISH) or it wants to continue further bearish movement.
As we know that Technical analysis consists of calculated probability and its very subjective, which vary from person to person.
In order to make it simple and objective based, I always try to plot both Bullish and Bearish level.
Club these levels with your existing trading style and strategy to get an edge.
I will Update these levels as and when required either in this Idea or in the MINDS section.
Do subscribe to get notified quickly as and when i make an Update.
Comment:
Currently trading in a very important level.
Comment:
Friends Do boost the idea if you find it useful it keeps me motivoted.
Comment:
Heading towards its 1st target.
Comment:
1st target achieved and we might see some profit booking here.
Comment:
Don't expect that it will complete all the target on one day....its a weekly analysis.
Comment:
I have shared an important update in which i have discussed the formation of probable expanding triangle, Check that out in the MIND section.
Comment:
It might me heading down to test again the target area, do book profit there.
If price does not fall down the there is greater chance that it is forming an expanding triangle.
Always use stoploss, Right place for a stoploss is near support or resistance.
In nifty 20 point stoploss is sufficient.
If price does not fall down the there is greater chance that it is forming an expanding triangle.
Always use stoploss, Right place for a stoploss is near support or resistance.
In nifty 20 point stoploss is sufficient.
Comment:
19590 is the current resistance level.
Comment:
Nifty is trading at a very important level, taking support here will reverse the nifty for a while to the up side. but if it is successful in holding the level below 1st short target will help it to achieve its 2nd short target because it will initiate a bearish channel.
Comment:
It might try to hold support in this level because i have observed yesterday that ITC which is heavy stock of Nifty 50, is trading near to its yearly support level.
Comment:
Nifty is heading towards next target be cautious near the profit booking area.
Comment:
Nifty might take support near 19477 level.
Comment:
Shares a Probable trade setup in the minds section for long side with small stoploss.
Comment:
Revise the stoploss near to 19480 because price is not moving beyond 19492, and to gain some liquidity it can fall for a while.
Comment:
Looks like Nifty is taking support from the lower levels.
Comment:
Thats all for the week folks..Comment and share your thoughts for this week.Do subscribe to get the updated level on time as well as to get notified when i post important update in MINDS section.DO give it a boost if you like the analysis it will keep me motivated. Happy weekends.
For Nifty, to go up it needs to immediately exit this red triangle zone otherwise breakdown from this triangle might give us Bearish momentum.