Nifty 50 analysis for upcoming days
One of the most important point is to keep in mind the long daily trend while taking intra day trade. So as for now nifty is continuing the downtrend after a retracement.
so first question is when to look for buying side and when can buyers gain interest again, we can look for buying if the market starts trading above 18250 as it is last swing high and up move can be expected above that.
And if we looking down side 17800 is very very important zone and the sellers will be highly active below that zone. It has retraced in a beautiful semi circle like shape after a sharp fall from the high which may form a kind of inverted cup and handle pattern in future.
But the main question is that how to trade in the tomorows market?
so to answer that I would like to share what alternative I would like to trade.
1) the market opens gap up tomorrow around 100 -150 point near 18130 , then if it forms some bearish 5 min candle like the the shooting star and if cross below then we could
take a downside trade with stop loss of 30-40 and trail it afterward
2) second possibility is that market open flat and consolidate in the in small range for some time and then crosses either side then we can take trade for 70 - 100 points target
with 20-30 point stop loss
3) it opens gap down near 17900 and consolidate there for some then, we can then take trade if it crosses 17890 with 20-30 points stoploss and last low target
this analysis is for just educational purpose , trade at your own risk
so first question is when to look for buying side and when can buyers gain interest again, we can look for buying if the market starts trading above 18250 as it is last swing high and up move can be expected above that.
And if we looking down side 17800 is very very important zone and the sellers will be highly active below that zone. It has retraced in a beautiful semi circle like shape after a sharp fall from the high which may form a kind of inverted cup and handle pattern in future.
But the main question is that how to trade in the tomorows market?
so to answer that I would like to share what alternative I would like to trade.
1) the market opens gap up tomorrow around 100 -150 point near 18130 , then if it forms some bearish 5 min candle like the the shooting star and if cross below then we could
take a downside trade with stop loss of 30-40 and trail it afterward
2) second possibility is that market open flat and consolidate in the in small range for some time and then crosses either side then we can take trade for 70 - 100 points target
with 20-30 point stop loss
3) it opens gap down near 17900 and consolidate there for some then, we can then take trade if it crosses 17890 with 20-30 points stoploss and last low target
this analysis is for just educational purpose , trade at your own risk
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