In the chart we can see nifty on near support level
Bulls can make position at 11620 with SL of 11560
Bear can make position after breakdown by 11525-11580
But personally i suggest bull trade
Note :- Do not go with my advice , study a trade !
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Price seems to be topping out and we may potentially reverse. I have highlighted a trendline break and will be waiting for the momentum shift before moving forward with this analysis.
Once the new lower low has been created we will be able to trap the range and look for the exhaustion.
Support has been broken that has created a new lower low to continue this bearish momentum. I am using the retest of support break to look for potential entries which is slowly adding up on the hourly timeframe.
From my education in forex, I have learnt from multiple people that Monday can be a manipulated day in the industry caused by, big hedge funds and banks. I always allow to have Saturday off, come to the charts on Sunday, and begin a week ahead analysis and today would have been a 'perfect' day to trade in, but I stuck by my rules and I'm now having to overcome...