FROM PAST TWO TO THREE DAYS NIFTY 50 IS CONTINUOUSLY REJECTING THE LEVEL ABOVE 11300 WHICH SHOWS THERE IS GOOD NUMBER OF SHORTER SITTING ABOVE 11300. ONLY FOR EDUCATIONAL PURPOSE.
ON WEAKLY BASIS WE CAN SEE THAT NIFTY IS MOVING IN CHANNEL WHICH SHOWS THE RANGE OF NIFTY 50. ON DAILY BASIS NIFTY OPENED HIGHER BUT IT WAS UNABLE TO SUSTAIN THAT LEVEL AND IT BROKE DOWN TO THE LEVEL OF 11242 AND AT THE END IT MANAGED TO REGAIN SOME OF ITS LEVEL. WEAKNESS IS STILL THERE IN NIFTY 50 CURRENT MOVE. EDUCATION PURPOSE ONLY.
NIFTY HAVE FORMED TWO CONTINUOUS DOJI ON DAILY BASIS WHICH INDICATES INDECISION AND WEAKNESS IN TREND ALTHOUGH IT HAVE CLOSED ABOVE 11300 LEVEL BUT FORMATION OF DOJI SHOWS WEAKNESS IN PRESENT TREND. EDUCATIONAL PURPOSE ONLY.
NSE:NIFTY today filled an old gap as well faced resistance from its trending channel.
This Suck Auction Zone , often acts as a magnet for the market, till the zone is traded completely. I learned about this zone from this YouTube video. Lets watch the action of NSE:NIFTY from here.
NIFTY ANALYSIS 20TH MAY 2020
Nifty CMP is 8083 * If you see the weekly RSI, then it will show nearly about 15 indicates (nearly about all time low) that there is no strength is left to go further downside (Below 7500 level). * If Nifty breaks the 7500 level then it will clearly indicates strong bear run into the market and could go around 6300 level. * Now sudden fall in the market might...
Nifty Analysis at t.me/speakwithcharts