Indian markets staged a recovery along with it's global peers. Although the market moved 374 points upwards. After making a high of 22697 the market closed at 22535 which is 162 points down. Which means it has formed a Bullish Doji. Now Doji candle irrespective of the colour means uncertainty, until we clear the Doji top further upside will not be possible. The doji top resistance is at 22697 and Doji bottom support is at 22270.
Doji works like a cage. The bird will fly either side once the cage is broken.
To know more about the kind of candles, Mother, Father lines, behavioural finance, Technical analysis, fundamental analysis read my book: The Happy Candles Way to Wealth creation.
Nifty Supports remain at: 22270 (Doji cage support), 21743 current low of Trump Tantrum, 21289, 20790 (Channel Bottom support) and 20320.
Nifty Resistances remain at: 22697 (Doji cage resistance), 23061 Mother line resistance, 23376 Father line resistance and 23894 recent market high.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
Doji works like a cage. The bird will fly either side once the cage is broken.
To know more about the kind of candles, Mother, Father lines, behavioural finance, Technical analysis, fundamental analysis read my book: The Happy Candles Way to Wealth creation.
Nifty Supports remain at: 22270 (Doji cage support), 21743 current low of Trump Tantrum, 21289, 20790 (Channel Bottom support) and 20320.
Nifty Resistances remain at: 22697 (Doji cage resistance), 23061 Mother line resistance, 23376 Father line resistance and 23894 recent market high.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
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Nifty is trapped in Doji cage as described yesterday. It will fly either side once the cage is broken.
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.