NIFTY ANALYSIS FOR THE WEEK STARTING 29TH JULY 2024.
Last week on the daily time frame nifty gave a long bearish engulfing candle after which the follow up candle did not close below 24300 and nifty reversed.
In one hour time frame Nifty closed above 24520 and turned bullish and closed near All time high.
For Monday
Nifty is Bullish above 24870 or may become short term bearish if one hour candle closes below 24700.
For the Week.
Nifty is bullish in the short term and may see some correction during the week .If Nifty closes below 24300 then we may change our view.
Keep booking profits at regular intervals.
Trade wisely and safely.
Ramakrishnan
I am not a SEBI registered analyst.
In one hour time frame Nifty closed above 24520 and turned bullish and closed near All time high.
For Monday
Nifty is Bullish above 24870 or may become short term bearish if one hour candle closes below 24700.
For the Week.
Nifty is bullish in the short term and may see some correction during the week .If Nifty closes below 24300 then we may change our view.
Keep booking profits at regular intervals.
Trade wisely and safely.
Ramakrishnan
I am not a SEBI registered analyst.
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