Wealthcam

Wealthcam

As we can see NIFTY has formed more like a doji candle which shows signs of indecision but hasn’t yet tested our demand zone hence if this structure would have formed around our demand zone then we would have confirmed the trend REVERSAL but since the demand zone is yet to be tested, no aggressive buying position should be made unless this weekly candle is formed...

Wealthcam

As we can see despite the strong opening, NIFTY failed to sustain itself at higher levels and had been negative to sideways throughout the day. Following the structure, we can expect NIFTY to test its important demand zone around 22800 levels hence we can expect more of bearishness or sluggishness in the market before finally reversing so plan your trades...

Wealthcam

Following the global cues, we can expect NIFTY to open strong as the bank quarterly results has been good but only way to find out if it sustains or not! As if it sustains then we may see new Trend REVERSAL else it will lead to more volatility with new gaps that will be pending to filled so plan your trades accordingly and keep watching

Wealthcam

As we can see it has formed more like a doji candle which shows indecision after a straight downfall hence we can expect NIFTY to REVERSE from our given levels around 22800 so plan your trades accordingly.

Wealthcam

Looks like we are heading towards bottom for NIFTY as the trendline has been acting as a SUPPORT and strong demand zone from where new ATH and rally started hence new FRESH entries can be made POSITIONALLY as we can expect reaction and REVERSAL from these levels so keep watching and plan your trades accordingly.