Just marking nifty levels for my future reference. I have plotted these levels just to observe how price will behave when revisited these areas and levels.
Note
On 22nd Nov market has taken support and has closed beyond last 4 days highs. Bullish hypothesis confirmed in yesterdays volume also. Candle body is not big as volume. Most likely buying has happened but still need more signs of confirmation. We can enter bullish trade with very small quantity with hard SL accordingly.
Trade active
Nifty took temporarily support at exactly plotted area 23350 and 23060 area. From the looks of it, nifty might try to complete head and shoulder formation.
If you ever get a bearish trade, risk a little. Reward might be very good. Only bearish trade. No bullish trades.
Nifty might test your patience by being sideways at current levels.
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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.