SUPPORT & RESISTANCE ANALYSIS:-
NIFTY is trading at very important level and it trying to break resistance line running since "All Time High" (ATH) - highlighted in red colour.
Also there is support line running since recent low of 7500 levels - highlighted in green colour.
-----------------------------------------------------------------------------------------------------------------------
Closing above 11320-30 on daily basis would mean breakout from this important resistance line
-----------------------------------------------------------------------------------------------------------------------
FIBONACCI ANALYSIS:-
Along with this if we draw FIbonaaci from ATH to ATL (7500) levels, we see that 78.6% levels stand around 11390. Historically NIFTY has followed 78.6% retracement and this makes it very important level to cross for any up move.
If you receive any benefit from idea, appreciate by your likes/comment. If you earn from my ideas, kindly consider donating small part of your profits to those in need.
Reach out if you wish to learn simplest form of price action and willing to put effort in practice.
Cheers!
Piyush Gupta
NIFTY is trading at very important level and it trying to break resistance line running since "All Time High" (ATH) - highlighted in red colour.
Also there is support line running since recent low of 7500 levels - highlighted in green colour.
-----------------------------------------------------------------------------------------------------------------------
Closing above 11320-30 on daily basis would mean breakout from this important resistance line
-----------------------------------------------------------------------------------------------------------------------
FIBONACCI ANALYSIS:-
Along with this if we draw FIbonaaci from ATH to ATL (7500) levels, we see that 78.6% levels stand around 11390. Historically NIFTY has followed 78.6% retracement and this makes it very important level to cross for any up move.
If you receive any benefit from idea, appreciate by your likes/comment. If you earn from my ideas, kindly consider donating small part of your profits to those in need.
Reach out if you wish to learn simplest form of price action and willing to put effort in practice.
Cheers!
Piyush Gupta
Nota
Check RBLBANK chart which was posted 2 weeks back but given breakout on Friday.Nota
All studies for for learning purpose only.
These are not trade recommendations
Not responsible for any profit or loss
These are not trade recommendations
Not responsible for any profit or loss
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
All studies for for learning purpose only.
These are not trade recommendations
Not responsible for any profit or loss
These are not trade recommendations
Not responsible for any profit or loss
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.