This is not an investment advice or recommendation, It's solely for Educational Purposes. This is the bias for Nifty for now. Market Structure is positive, will be working on the most probable setup. Expecting some retracement before continuation of the up move. Spotted this inverse head and shoulder structure. A high probability for long side trade.
These the are 3 most probable paths for Nifty to move forward. We are bullish right now, however there's still room left for retracement. We can look out for longs once we confirm that the retracement is complete. If selling stays strong and market structure shift bearish, then we can continue looking out for short side entries.
Will look to enter at the demand zones near Fibonacci levels.
Market might give a small pullback before pushing up higher.
Three possibilities for Nifty in coming week or weeks a. At crucial support level, Formed Double Bottom. b. Rangebound in the range of 15700-16400 since last 10Days, might continue. c. If this support is compromised then major fall can come, Might end up forming a Bear Flag. Comment your thoughts and analysis.
Breakdown of descending channel Market at crucial support Market need to take support near this zone to climb further Until then expect Bearish to Flat movement.
Breakout: When price go above the upfront resistance with increased volume and momentum. Sideways: When price move within a fixed range. Accumulation: When there's a consolidation with increased buyer interest (Above Average Volumes) Distribution: What will be the opposite of Accumulation? Answer in the comment section
Expiry day, Market can be excessively volatile. A little bullish bias. If support is received then Nifty can test the levels of 17500 and 17750.
Market Rangebound Between 17100-17350 If support received at 17100 Zone then Market might move towards 17350. Market likely to stay Rangebound to Bullish. Crucial Support at 17100 zone, breakdown might lead to bearishness.
There's indecisiveness in market, keep a look out for this range. A move to the downside might fill the gap before bouncing back. If resistance is compromised then the breakout could give a good movement of around 200Points. Check global news and economic announcements for directions.
Bullish Flag formed. However, major resistance near 16750 zone. Good Breakout is possible if market sustain over 16500, otherwise expect sideways to bearish movement.
Consolidation after a rally. Range narrowing. A breakout on the upside can give a good movement! Price Action looks positive. Keep a look at global news.
Double Bottom Formation Wait for breakout, target would be around 16150-16200 Zone. In case of Breakdown, expect sideways movement with support near 15450-15500 Zone.
Descending Channel Formed. Market at crucial support. Buy at Support, Sell at resistance until confirmed breakout/breakdown.
Market is in a range, Typical volatile market. Until confirmed breakout or breakdown, the strategy is to Buy at support and Sell at resistance.
Market flat between in the rough zone of 16600-16750. Descending triangle formation, Market likely to stay range bound until a decisive move above or below 16750 or 16600 respectively. Do keep a check on geopolitical scenarios.
Market Broke down, Rose back and Flat now. No decisive movement in any direction. Market to remain rangebound amid geopolitical indecision. Keep a checkout for International news.