Nifty: Supply and Demand
Aggiornato
On 17th January, supply exceeded demand. So, the support line has been broken.
The time will prove, whether:
1) Nifty will retest this level and fall further.
or
2) Nifty will breakout this level and trade in the upward channel again.
The time will prove, whether:
1) Nifty will retest this level and fall further.
or
2) Nifty will breakout this level and trade in the upward channel again.
Trade attivo
Nifty retested the channel line. And created a bearish candle on daily chart. On weekly chart Nifty created a bearish engulfing candle pattern.
I think nifty may fall further.
This is NOT a trade recommendation. I wrote this as a part of educational purpose. I am not a SEBI registered adviser. Please consult an authorised adviser before taking a trade.
Nota
1] On 17th Jan triple top neckline has been broken.2] On 20th Jan retest has been completed.
3] Nifty created a bearish candle on daily chart.
4] On weekly chart Nifty created a bearish engulfing candle pattern.
# Nifty may fall further. Targets 1] 21025 2] 20880. 3] 20736
This is NOT a trade recommendation. I wrote this for educational purpose. I am not a SEBI registered adviser. Please consult an authorised adviser before taking any trade.
Nota
Index fell today, much more than expected.Nota
WaitingNota
I forget to note here that this trade expired on 25 January.
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