Nifty trapped between critical support and resistance.
Nifty trapped and delicately placed between critical support and resistance. It is also facing a trendline resistance. More than these two factors the situation in the Middle East is also very delicate. Anything can happen at any point in time. Technical indicators are indicating a breakout or breakdown on either side with minute possibility of further consolidation too. So everything depends on the supports that hold and resistances that give way, if they give way.
Nifty Supports are at: 25745 (Very important support where consolidation is taking place), 25595 Channel bottom support and 25409 is 200 hours EMA support or the father line). Below 25409 bears can be in commanding state.
Nifty Resistances are at: 25829, 25879 (Major Mother line Resistance or 50 hours EMA Resistance), 25991 and 26077 will also be resistances when the Nifty decides to travel upwards.
Strictly do not trade/invest without keeping Stop losses and Trailing stop losses. Stop losses protect your capital and trailing stop losses protect your profits. To know more about stop losses, trailing stop losses, Profit booking and investment in Equity in general or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Which is available in Amazon in Kindle and Paperback version.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Nifty Supports are at: 25745 (Very important support where consolidation is taking place), 25595 Channel bottom support and 25409 is 200 hours EMA support or the father line). Below 25409 bears can be in commanding state.
Nifty Resistances are at: 25829, 25879 (Major Mother line Resistance or 50 hours EMA Resistance), 25991 and 26077 will also be resistances when the Nifty decides to travel upwards.
Strictly do not trade/invest without keeping Stop losses and Trailing stop losses. Stop losses protect your capital and trailing stop losses protect your profits. To know more about stop losses, trailing stop losses, Profit booking and investment in Equity in general or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Which is available in Amazon in Kindle and Paperback version.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Happy Candles Investment
Disclaimer
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