Nifty: How Support & Resistance concept helped us in trading
Nifty
If you have been following me, you would know that when Nifty was around 18000 we had given a target of 17385 / 17235
Then when Nifty fell 800 points, we said to expect a bounce back up to 17538 / 17620
Nifty made a low of 17216 and then when it bounced back it made a high of 17600.60 just 19 points from the levels we had given...
If you have been wondering how I got those levels then this for your educational purpose. Let me assure you, I have not used any rocket science but just derived these levels by understanding previous important Support and resistance. And you too can do the same.
Charts do try to tell us a lot.... The question is are you willing to listen and understand what they want to communicate?
Trust this would motivate you to use tradingview more effectively.
Going forward 17360 / 17035 / 16867 are important levels on the down side &
17501 / 17640 / 17820 are important resistance levels on the upside
All the best and happy learning...!!!
If you have been following me, you would know that when Nifty was around 18000 we had given a target of 17385 / 17235
Then when Nifty fell 800 points, we said to expect a bounce back up to 17538 / 17620
Nifty made a low of 17216 and then when it bounced back it made a high of 17600.60 just 19 points from the levels we had given...
If you have been wondering how I got those levels then this for your educational purpose. Let me assure you, I have not used any rocket science but just derived these levels by understanding previous important Support and resistance. And you too can do the same.
Charts do try to tell us a lot.... The question is are you willing to listen and understand what they want to communicate?
Trust this would motivate you to use tradingview more effectively.
Going forward 17360 / 17035 / 16867 are important levels on the down side &
17501 / 17640 / 17820 are important resistance levels on the upside
All the best and happy learning...!!!
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