NIFTY chart:
We Expected NIFTY around 22800-2300 around Mid March. Here we are .
Way ahead now is more important seeing the current market dynamics.
As of today,
β’ Pattern is forming near a support/demand zone (~22,900β23,000)
β’ The second candle also has a long lower wick, showing rejection of lower prices
π This makes it a Bullish Harami with rejection, which increases the chance of a short-term bounce.
β Confirmation needed:
β’ Next candle should break above the small candle high
β’ Then the move can go toward 23,600 β 23,800
We Expected NIFTY around 22800-2300 around Mid March. Here we are .
Way ahead now is more important seeing the current market dynamics.
As of today,
β’ Pattern is forming near a support/demand zone (~22,900β23,000)
β’ The second candle also has a long lower wick, showing rejection of lower prices
π This makes it a Bullish Harami with rejection, which increases the chance of a short-term bounce.
β Confirmation needed:
β’ Next candle should break above the small candle high
β’ Then the move can go toward 23,600 β 23,800
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NIFTY Outlook: Key Levels to Watch
NIFTY is again opening near the 22,800 zone, keeping markets at a crucial decision point.
Two possible scenarios:
β’ Breakdown Case:
If NIFTY decisively breaks the 22,600β22,700 support range, the next likely bounce zone comes near 21,800.
β’ Reversal Case:
If NIFTY holds and reverses from the 22,600β22,700 zone, we could see a short pullback towards 24,400, followed by a deeper move down towards 20,500.
Overall View:
There is a strong probability (~80%) that the market is transitioning into a bear phase from the top.
NIFTY is again opening near the 22,800 zone, keeping markets at a crucial decision point.
Two possible scenarios:
β’ Breakdown Case:
If NIFTY decisively breaks the 22,600β22,700 support range, the next likely bounce zone comes near 21,800.
β’ Reversal Case:
If NIFTY holds and reverses from the 22,600β22,700 zone, we could see a short pullback towards 24,400, followed by a deeper move down towards 20,500.
Overall View:
There is a strong probability (~80%) that the market is transitioning into a bear phase from the top.
GeeksofNifty
#POSITIONAL BUY ASHOKLEY 170PE ABOVE 5.5 SL 2 TGT 9-14-21+
ASHOKLEY 5 TO 9+
TARGET 1 DONE π SAFE TRADERS START BOOKING YOUR βΉ+ PROFIT OR KEEP SL ABOVE COST & TRAIL AHEAD β‘
TARGET 1 DONE π SAFE TRADERS START BOOKING YOUR βΉ+ PROFIT OR KEEP SL ABOVE COST & TRAIL AHEAD β‘