Indice NIFTY 50Short
Nifty weekly analysis
Nifty closed at 19047 with little rebound on Friday session. On weekly charts, it closed below the trendline and broken the neckline of H&S pattern . Hence, overall trend is bearish.
Strategy based on weekly charts:-
Since Nifty has broken the trendline, this trendline may act as resistance in near term and if Nifty closes below Friday's low(18830), then next support is 18670(100 DEMA)- 18350 - 18200 (base trendline ) which might act as strong support based on chart pattern.
If Nifty crosses above 19100( above close of 25 Oct 23), then target would be 19300( 50 DEMA ) . Till then sell on rise/ short on Nifty holds good.
Strategy based on weekly charts:-
Since Nifty has broken the trendline, this trendline may act as resistance in near term and if Nifty closes below Friday's low(18830), then next support is 18670(100 DEMA)- 18350 - 18200 (base trendline ) which might act as strong support based on chart pattern.
If Nifty crosses above 19100( above close of 25 Oct 23), then target would be 19300( 50 DEMA ) . Till then sell on rise/ short on Nifty holds good.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.