NIFTY ANALYSIS --Tomorrow closing is very important
Hello Everyone,
I am sharing nifty chart.
Why tomorrow closing is very important because tomorrow is weekly closing, last trading day of the week.
I will again share the analysis, but for now look at the charts.
The important support is now 17775, as this was acting as resistance earlier.
Nifty broke this resistance level of 17775 and already tested it 2 times and comfortably bounced which shows this is the best of support as of now.
Apart from this I have drawn a ABCD pattern where, technically AB = CD. [this is important rule for ABCD pattern]
So we have B at 18100 (approx).
and we have C at 17775.
Mean while nifty is in range between 18100 and 17775, we have to see tomorrow closing. Unless we break this range any side, we cant be biased for bullish or bearish view.
If nifty closes below 17775, (which is point C) then no doubt we will be breaking an important support which will be a sign of weakness.
But if nifty closes above 18100, (which is point B) then we will see nifty around 18400 in next week.
Let's see what happens tomorrow.
Thank you everyone.
Have a nice day.
I am sharing nifty chart.
Why tomorrow closing is very important because tomorrow is weekly closing, last trading day of the week.
I will again share the analysis, but for now look at the charts.
The important support is now 17775, as this was acting as resistance earlier.
Nifty broke this resistance level of 17775 and already tested it 2 times and comfortably bounced which shows this is the best of support as of now.
Apart from this I have drawn a ABCD pattern where, technically AB = CD. [this is important rule for ABCD pattern]
So we have B at 18100 (approx).
and we have C at 17775.
Mean while nifty is in range between 18100 and 17775, we have to see tomorrow closing. Unless we break this range any side, we cant be biased for bullish or bearish view.
If nifty closes below 17775, (which is point C) then no doubt we will be breaking an important support which will be a sign of weakness.
But if nifty closes above 18100, (which is point B) then we will see nifty around 18400 in next week.
Let's see what happens tomorrow.
Thank you everyone.
Have a nice day.
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