The move testing the highs of 21st JUN is about to conclude, following which the correction begins in one larger degree. the trendlines & supports can be seen in the charts
Important points of support will be,
SI - 22,665
SII - 22,535 to hold temporarily
SIII - 22,130 ~ 21,830
SL - Any higher moves beyond 23,750
PS: The correction has equally arguable alternate probabilities, to be exact 2.
1. The correction from 20MAR'23 (16,828 levels) - A LP Outcome
2. The Possibility of an extending triangle - meager probable outcome.
*The discussed outcome is highly probable among all these. However, the data from the market's forthcoming sessions are mandatory for confirming the same - to eradicate the alternatives!!!
Short positions can be taken from 23,690 ~ 23,700 levels
Trade Accordingly.
Important points of support will be,
SI - 22,665
SII - 22,535 to hold temporarily
SIII - 22,130 ~ 21,830
SL - Any higher moves beyond 23,750
PS: The correction has equally arguable alternate probabilities, to be exact 2.
1. The correction from 20MAR'23 (16,828 levels) - A LP Outcome
2. The Possibility of an extending triangle - meager probable outcome.
*The discussed outcome is highly probable among all these. However, the data from the market's forthcoming sessions are mandatory for confirming the same - to eradicate the alternatives!!!
Short positions can be taken from 23,690 ~ 23,700 levels
Trade Accordingly.
Note
The possibility of -ve monthly close is anticipatedTrade closed manually
Presence of AMBIGUITY due to interim weekly correction, the market may extend its trend by a few weeks, eyeing 24,300 levels. TRADE WITH CAUTIONTrade closed manually:
If no short taken yet, hold the tendency to act &
If taken wait for a better position to exit (with minimal loss)
Best Regards,
WDG_Dinesh_Gengarajan
Full-Time Analyst, Trader & Trainer
For learning, visit Wiz-Brains Online Trading Academy
Unlock free courses and face the markets with confidence! @ wiz.leadbrains.com
WDG_Dinesh_Gengarajan
Full-Time Analyst, Trader & Trainer
For learning, visit Wiz-Brains Online Trading Academy
Unlock free courses and face the markets with confidence! @ wiz.leadbrains.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Best Regards,
WDG_Dinesh_Gengarajan
Full-Time Analyst, Trader & Trainer
For learning, visit Wiz-Brains Online Trading Academy
Unlock free courses and face the markets with confidence! @ wiz.leadbrains.com
WDG_Dinesh_Gengarajan
Full-Time Analyst, Trader & Trainer
For learning, visit Wiz-Brains Online Trading Academy
Unlock free courses and face the markets with confidence! @ wiz.leadbrains.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.