NIFTY--Trendline Holds or Break??
Updated
Observations::
Will trendline acts as support ??
price action is completely in uptrend...
today after open a gap up price fall happens strongly...
buyers try to make the price higher but failed to close above 19400 level...
we can consider this level as a resistance...
price is now near its trend line....will see if this breaks or not.
if price breaks and retest will enter for short side trade...
strong bullishness is observed from the 19250 level after opening gap up...
bullish gap left at 19200 is filled, if trendline acts as resistance.
Bullish gap ma acts as a support also....
will see tomorrow what happens.
keep track these levels.
We don't go for long side...we don't have targets to book...price at anytime may reverse after All Time High.
Will trendline acts as support ??
price action is completely in uptrend...
today after open a gap up price fall happens strongly...
buyers try to make the price higher but failed to close above 19400 level...
we can consider this level as a resistance...
price is now near its trend line....will see if this breaks or not.
if price breaks and retest will enter for short side trade...
strong bullishness is observed from the 19250 level after opening gap up...
bullish gap left at 19200 is filled, if trendline acts as resistance.
Bullish gap ma acts as a support also....
will see tomorrow what happens.
keep track these levels.
We don't go for long side...we don't have targets to book...price at anytime may reverse after All Time High.
Note
If price is not able to break on upside...wait for the price to break trendline to confirm breakdown...on retest will go for short..
Note
Ranging in another channel...wait for breakout...or breakdown.
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Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
--Not SEBI Registered--
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