Nifty EOD 23.9.2020
In order to distance myself a bit from daily structure and give myself a clarity on one larger time frame, I have marked Weekly zones of support
and resistance. Weekly zones are normally thick. But confluence in weekly and then daily does help. As per my understanding till 10827 we are still in weekly support zone. below that is a wide scope as seen on chart. So, some sort of distancing and neutral approach will still help.
Sequence of events of bullish trend is over for the time being. But that doesn't mean I can start blind shorting. Important point for me will be to wait for that link which will give us confirmation about the foot prints so that can have a better hypothesis to trade.
and resistance. Weekly zones are normally thick. But confluence in weekly and then daily does help. As per my understanding till 10827 we are still in weekly support zone. below that is a wide scope as seen on chart. So, some sort of distancing and neutral approach will still help.
Sequence of events of bullish trend is over for the time being. But that doesn't mean I can start blind shorting. Important point for me will be to wait for that link which will give us confirmation about the foot prints so that can have a better hypothesis to trade.
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