Yesterday Nifty formed an inside bar with high volumes. Buying was clearly visible in intraday, also Nifty took support from the previous pivot hence low of 4358 may become important support.
Nifty Chart - Hourly:
Supply is seen in the higher levels and also demand is coming in at lower levels. When this undeceive mode is broken then Nifty may presume the trend.
On the higher side if 4494 is broken then Nifty may reach up to 4517 levels, but there is a Gap resistance in between at 4500 levels. When the Gap resistance is broken then Nifty has more chances to to move up to 4560 levels.
On the lower side low of 4356 levels are important, if it is broken then next support comes at 4328 levels. If Nifty breaks the low of 4356 levels with out breaking the high of 4495 levels then the next target for Nifty may be 4230.
4 comments:
Hi..Doji,
That is as pure and a simple commentary under the circumstances. Excellent analysis.
Best regards.
ilango
Thank you Ilango ji :)
-Doji.
bulls eye !!
spot ON !!
excellent !!
amazing !!
Kudos to your analysis Doji:)
continue enriching-educating people like me
Thanks a ton and much appreciated
Thank you Kevin :)
-Doji.
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