Nifty What Next ?
Nifty formed a bearish candle (Timeframe : Daily) today, taking out the low of yesterday's inverted hammer.
Also closed below 5 EMA, which signifies caution.
However, on a lower timeframe Price has just crossed 50 EMA downwards (Can it be a fake Breakdown of 50 EMA ? Need to watch. )
If price confirms this by trading below 14850 with good volume candle, then target till 200 EMA / 14760 OR next support zone created by the gap.
Contrarian view : Nifty broke the inclined Trend line with a gap on 18 May 2021, took resistance on the upper trend line.
Now, price is retesting the breakout level with almost 50% FIBonacci retracement of recent rallly to bounce back up again. Target : 15000
Happy Trading !!! :)
Also closed below 5 EMA, which signifies caution.
However, on a lower timeframe Price has just crossed 50 EMA downwards (Can it be a fake Breakdown of 50 EMA ? Need to watch. )
If price confirms this by trading below 14850 with good volume candle, then target till 200 EMA / 14760 OR next support zone created by the gap.
Contrarian view : Nifty broke the inclined Trend line with a gap on 18 May 2021, took resistance on the upper trend line.
Now, price is retesting the breakout level with almost 50% FIBonacci retracement of recent rallly to bounce back up again. Target : 15000
Happy Trading !!! :)
Trade chiuso: obiettivo raggiunto
Target achieved !!!
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.