Nifty Analysis for 1st Nov

31 oct. 2021

Weekly - Correction almost done.
- Diwali is almost upon us, lol
Daily - Reversal ?
4/1 Hourly - Hammer !!! high probability of 200 pt candle formation.
15/5 min - high probability of 100/200 pt candleformation.
Support - 17620
Resistance - 17900 , 17980
Trend? - 90% UP - 10% Down

*Any notable pattern?

Daily - should form Green candle as per previous behaviour

*Watch out for

--> Even if 17620 support breaks, DO NOT TAKE TRADE. Lower support is not clear, too much risk.
--> Daily move - 200-250 pt
--> Try to capture half profit on 100-150 pt
--> Book half on 1st resistance. Highly unlikely to break 17980.

1 nov. 2021

Note

-->Update on 14:10
-->Performed beautifully.
-->I would book here half of my quantity. CMP-17900.

1 nov. 2021

Note

Comment: Update on 15:36
--> Performed word 2 word.
--> Broken 1st resistance.
--> Said that it is highly unlikely to break 17980. Closed on 17945.
--> Daily move ~ 250 pt