NIFTY IDEA ON DAILY TIME FRAME
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What todays candle shows - Hammer ( bullish candle as sharp recovery from todays low in second half)
Hammer candle means- if this candle crosses previous day then there may be big green candle on daily time frame.
Analysis- in market clearly sellers are strong. our bias should be selling side first 19500 may work as a strong resistance.
19223 may work as support nifty may test this support. but today candle closes bullish
price action need to see . how it open how it behave near 19500 if any failure from resistance again fresh selling may if not crossed today.
Hammer candle means- if this candle crosses previous day then there may be big green candle on daily time frame.
Analysis- in market clearly sellers are strong. our bias should be selling side first 19500 may work as a strong resistance.
19223 may work as support nifty may test this support. but today candle closes bullish
price action need to see . how it open how it behave near 19500 if any failure from resistance again fresh selling may if not crossed today.
Nota
What todays candle shows - indecisive .neither the buyers are strong nor the sellers.
in the opening market open gap up after that market take resistance at upper level.
market is in wait and watch zone. no clear direction in the market.
Nota
Extremely bullish candle on daily time frame. and confirmed double bottom pattern. if open flat and crosses 19720 then it will be a gud buy with sl below 30 points.In any case if open gap down then our premises are wrong and we will reasses the situation.
Nota
19861 will be crucial level for nifty . if this level crosses then 19991 will open for nifty very easily....
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