NIFTY ANALYSIS
NIFTY: 17102.55
SGX NIFTY: 16960 (Indicating a gap down opening)
Ascending Triangle Pattern
Resistance Zone: 17380-17420
Upside Targets: 17520, 17595, 17650, 17745-17770
On downside entry on break of trendline
Downside Targets: 16940-16975, 16865-16885 (16865 is 200EMA)
For Swing Traders, spinning top candle high 17322 and low 17070 is very important for trend identification
For Position Traders, 1.618 fib-level(17988) is acting as a crucial resistance level on monthly time frame
Note: Be very careful traders, we are not having enough gaps between our targets
SGX NIFTY: 16960 (Indicating a gap down opening)
Ascending Triangle Pattern
Resistance Zone: 17380-17420
Upside Targets: 17520, 17595, 17650, 17745-17770
On downside entry on break of trendline
Downside Targets: 16940-16975, 16865-16885 (16865 is 200EMA)
For Swing Traders, spinning top candle high 17322 and low 17070 is very important for trend identification
For Position Traders, 1.618 fib-level(17988) is acting as a crucial resistance level on monthly time frame
Note: Be very careful traders, we are not having enough gaps between our targets
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