Mighty Nifty - Jan 25

Price is moving inside a channel formation. And price had a good recovery after the huge fall. Will it continue tomorrow or move inside the channel?

Pattern : Channel.
Range : Medium.
Trend strength : Normal.
Buy Above : 21480.
Stop Loss : 21440.
Targets : 21520, 21560, 21600 and 21640.
These levels are derived based on the assumption that price will take support from 21500 and break the channel and move up.
Sell below : 21380.
Stop Loss : 21420.
Targets : 21340, 21300 and 21260.

Expected expiry day range is 21300 to 21700.

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Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
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Commentaire:

Channel movement so far.