Nifty 50 IndexLong
Nifty | Pre Market Weekly View | 09 Dec - 13 Dec 2024
Nifty closed the previous week with a strong Bullish candle which has reached to the 50% zone of the previous fall.
There has been a good price consolidation around this level.
The plan for the next week is simple.
Nifty is in an uptrend and trading above key pivot levels that include the monthly and weekly pivots.
If there's any sharp decline or gap down, then my suggestion is to not Short !
24,300 there about should act as a good support zone and then look for good price action confirmation and buy on dip around those level.
Long side target is 25,000 - 25,015 level.
If there's a big gap up, don't go long either. There could be a potential reversal from around 25,015 + levels.
Best option is to look for a correction and buy on dip.
There has been a good price consolidation around this level.
The plan for the next week is simple.
Nifty is in an uptrend and trading above key pivot levels that include the monthly and weekly pivots.
If there's any sharp decline or gap down, then my suggestion is to not Short !
24,300 there about should act as a good support zone and then look for good price action confirmation and buy on dip around those level.
Long side target is 25,000 - 25,015 level.
If there's a big gap up, don't go long either. There could be a potential reversal from around 25,015 + levels.
Best option is to look for a correction and buy on dip.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.