Nifty Analysis 24 Jul
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Last week rally had a correction of more than 250 points after the weekly expiry
Wait for signals to know if the correction is Retracement or Trend reversal
Follow the blue and Grey channels
Sell : At the top channel lines / Break downside of channel
Buy : At the bottom channel lines./Break upward channel
If the down trend follows, Supports at 19680,19640 19550 and 19550
If the uptrend follows: Resistances at 19850 19900. Breach of 19900 can test 20k and 20.3 k in the near term
Disclaimer : Ideas listed are My Trading analysis and Notes/journals.
These are NOT recommendations for Buy /Sell.
Do your own analysis before jumping into any trade/Investment.
Learn and then Earn.!
Wait for signals to know if the correction is Retracement or Trend reversal
Follow the blue and Grey channels
Sell : At the top channel lines / Break downside of channel
Buy : At the bottom channel lines./Break upward channel
If the down trend follows, Supports at 19680,19640 19550 and 19550
If the uptrend follows: Resistances at 19850 19900. Breach of 19900 can test 20k and 20.3 k in the near term
Disclaimer : Ideas listed are My Trading analysis and Notes/journals.
These are NOT recommendations for Buy /Sell.
Do your own analysis before jumping into any trade/Investment.
Learn and then Earn.!
Nota
24 Jul : Still trying to figure out the trend. so far Bearish to sidewaysNota
19670-700 supports .once channel breaks will enterNota
19720 -19760 is next Res for the retrace.support 19640-19690
Nota
So far, Nifty nicely playing within the channelStrategy : Long in Low of the channels and Sell in High of channels.
If Channel breaks, follow the breakout
Nota
Blue(line) channel is broken, adding the longs..and with sharp SLsTrade chiuso: stop raggiunto
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