Bulls and Bears are equally Control on market from last 2 weeks. We can See on chart on Daily TF Evening star with following red candle confirm to nifty can come down to 17950 on next week. on Wednesday nifty broken the trendline and given closing above trend line but bulls were trap and going down side to close to 18027. Again on Daily n weekly TF nifty Closed below 20MA which is bearish Sign.
On weekly TF we can see the double doji which again confirm that no such trend define from last couple of week.
sideways Momentum on Daily n weekly basis also low volatility. Nifty trade very narrow range of 18250 to 17950.
Strong Resistance on Daily TF is 18250. If Nifty Break this in next week with High Volume then up side move can see.
Strong Support on Daily TF is 17950 level.
As per Daily n Weekly chart pattern we can see the nifty in next week come to near support levels which is 17950.
On weekly TF we can see the double doji which again confirm that no such trend define from last couple of week.
sideways Momentum on Daily n weekly basis also low volatility. Nifty trade very narrow range of 18250 to 17950.
Strong Resistance on Daily TF is 18250. If Nifty Break this in next week with High Volume then up side move can see.
Strong Support on Daily TF is 17950 level.
As per Daily n Weekly chart pattern we can see the nifty in next week come to near support levels which is 17950.
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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.