As we can see NIFTY did manage to close itself above 23400 level showing signs of bullishness but this level has acted as a strong support previously and hence expected to act as a strong resistance. Hence we must wait for a weekly candle to close above 23400 level for confirmation for further upmove else our view is bearish and can result in good fall as the gap has already been filled and can result in sharp fall as it is already trading in strong supply zone so plan your trades accordingly and keep watching.
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.