Nifty Higher timeframe analysis....
There has been a good selloff after a huge upside rally in Indian indices.
The waves of the selloff was cooling off and bulls & bears had a fight in the yellow market area and it potentially formed a inverted head & shoulders in the bottom and trying to make HH & HL
If NF manages to close a daily candle above 17750 then this will be considered as a reversal which can lead to potentially ATH if all goes well..
What in case of closing above 17750?
-- we can open long positions in NF fut or maybe Major NF stocks and when NF comes near the 17750 area once again for a retest then can add more and maximize your profits.
What if it reverses from 17750 area towards downside ?
-- In that case one can go short after closing below 17050 which can result in double top as well as Lower low and lower high formation indicating a small downtrend.
There has been a good selloff after a huge upside rally in Indian indices.
The waves of the selloff was cooling off and bulls & bears had a fight in the yellow market area and it potentially formed a inverted head & shoulders in the bottom and trying to make HH & HL
If NF manages to close a daily candle above 17750 then this will be considered as a reversal which can lead to potentially ATH if all goes well..
What in case of closing above 17750?
-- we can open long positions in NF fut or maybe Major NF stocks and when NF comes near the 17750 area once again for a retest then can add more and maximize your profits.
What if it reverses from 17750 area towards downside ?
-- In that case one can go short after closing below 17050 which can result in double top as well as Lower low and lower high formation indicating a small downtrend.
