NIFTY ANALYSIS THROUGH SGXNIFTY & AVWAP
Hello everyone!
In this analysis I've tried to build a view of NIFTY with the help of SGX Nifty. As you see in the chart, it's respecting the avwap,very well. Here 50 ma is also meeting with avwap. Which is known as a convergence. Where convergence develops probably its hard to break that level. That is 16500 - 16300 level. Price have bounced from there many times, you can see long wicks of the candle formed near the support. Until and unless this level is sustaining market view is bullish for long term. But if it breaks the level we can see some big moves to the down side; opportunity for investing. So we can plan as per the market analysis!
I hope you'll get some better insight of Market by this analysis.
In this analysis I've tried to build a view of NIFTY with the help of SGX Nifty. As you see in the chart, it's respecting the avwap,very well. Here 50 ma is also meeting with avwap. Which is known as a convergence. Where convergence develops probably its hard to break that level. That is 16500 - 16300 level. Price have bounced from there many times, you can see long wicks of the candle formed near the support. Until and unless this level is sustaining market view is bullish for long term. But if it breaks the level we can see some big moves to the down side; opportunity for investing. So we can plan as per the market analysis!
I hope you'll get some better insight of Market by this analysis.
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