NIFTY formed multiple reversal signals and is now showing signs of weakness after rejecting near 24,825. Volume is high at the top zone, indicating possible distribution.
Current price: 24,789
Expected move: Pullback towards 24,727 and possibly to 24,631 (strong support)
If price holds at 24,631, potential bounce is expected.
Trade Plan:
Entry (Short): Below 24,780
Target 1: 24,727
Target 2: 24,631
Stop Loss: Above 24,820
If support holds, watch for bullish reversal setups.
Current price: 24,789
Expected move: Pullback towards 24,727 and possibly to 24,631 (strong support)
If price holds at 24,631, potential bounce is expected.
Trade Plan:
Entry (Short): Below 24,780
Target 1: 24,727
Target 2: 24,631
Stop Loss: Above 24,820
If support holds, watch for bullish reversal setups.
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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.