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 fermée: cible de profit atteinte
Target achieved !!!
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.
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.