NIFTY--Keylevels @BASE??
Updated
NIFTY INDEX is at crucial support at trendline...
after a long time consolidation, price moves upside.
DROP BASE DROP is observed previously...
BASE acts as resistance it will fall back to below demand zones...
we have a strong demand zone lies at 21700 levels...
so tomorrow we have to observe this base bottom is pushing the price downside or not...
by observing this we can decide further movement in NIFTY Index.
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On the other hand, if price consolidate between base high to base low..
if price breaks the high and retest to base high, then will go for long side continuation up to 22500 levels. Then will observe a inverse head and shoulders pattern in NIFTY INDEX to go long.
after a long time consolidation, price moves upside.
DROP BASE DROP is observed previously...
BASE acts as resistance it will fall back to below demand zones...
we have a strong demand zone lies at 21700 levels...
so tomorrow we have to observe this base bottom is pushing the price downside or not...
by observing this we can decide further movement in NIFTY Index.
-----------------------------------------------------------------------------------------------------
On the other hand, if price consolidate between base high to base low..
if price breaks the high and retest to base high, then will go for long side continuation up to 22500 levels. Then will observe a inverse head and shoulders pattern in NIFTY INDEX to go long.
Note
Enter into the zone of resistance...wait for retracement.Note
A strong move is identified wait is this an exhaustion or initiation...wait for turning point...Note
A retest to the base is expecting in nifty, for further continuation.Note
price is in consolidation stage manipulation to bottom side...distribution to topside may happen...take care before short side.Note
filled the bullish gap...Note
present it is at base High.IT TAKES THE LIQUIDITY below this and will try to move high. wait for the price to break the trendline to go long side.
Note
If retest fails price will go down.
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