For Short-Term or Intraday Traders
Trendline Breakdown
Resistance Zone: 16420-16440 Support Zone: 16130-16160
Upside Target: 16570-16600 Downside Target: 16030-16050, 15830-15850
Factors to look at for Medium-Term or Long-Term Traders
Weekly Time-Frame: Double-Top Pattern and breakdown of neckline @17764
Daily Time-Frame: 1. A neutral Spinning-Top candle of high(16456) and low(16133)
2. Below 200EMA (16712) (Bearish)
3. RSI=35(Bearish Momentum)
4. ADX= 30 (Strong Trend and here it is downtrend)
5. VIX=28 (High Volatility)
Max CE writers @16700 (25.4 Lakh contracts) and Max PE writers @16000 (23.7 Lakh Contracts)
PCR: 0.47 (Bearish Sentiment) and MAX PAIN=16400
Trendline Breakdown
Resistance Zone: 16420-16440 Support Zone: 16130-16160
Upside Target: 16570-16600 Downside Target: 16030-16050, 15830-15850
Factors to look at for Medium-Term or Long-Term Traders
Weekly Time-Frame: Double-Top Pattern and breakdown of neckline @17764
Daily Time-Frame: 1. A neutral Spinning-Top candle of high(16456) and low(16133)
2. Below 200EMA (16712) (Bearish)
3. RSI=35(Bearish Momentum)
4. ADX= 30 (Strong Trend and here it is downtrend)
5. VIX=28 (High Volatility)
Max CE writers @16700 (25.4 Lakh contracts) and Max PE writers @16000 (23.7 Lakh Contracts)
PCR: 0.47 (Bearish Sentiment) and MAX PAIN=16400
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.
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.