Nifty: Changing Gears...will it shift to lower red channel???
Nifty
Observations
- Nifty trading in yellow channel from April 2021
- Since May 31, 2021, Nifty has been sideways (trading mostly in a 300 point range)
- the orange line has acted as a road block
- the lower side of the yellow channel has provided support on 4 occasions so far
- if Nifty comes to lower end now of the yellow channel, it could be it's 5th attempt and that may not be a good sign in the short term
Nifty likely to change gear and shift to red channel.
Important levels on the lower side 15780 / 15628 / 15450
Important levels on the upside 15960 / 16030
I would be writing another post on F&O Data analysis. Some interesting stats are coming up... So keep watching
If you don't want to miss an update from me
Like & Follow...
But don't just follow me blindly....
I encourage you to learn to identify opportunities independently
Disclaimer:
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
Observations
- Nifty trading in yellow channel from April 2021
- Since May 31, 2021, Nifty has been sideways (trading mostly in a 300 point range)
- the orange line has acted as a road block
- the lower side of the yellow channel has provided support on 4 occasions so far
- if Nifty comes to lower end now of the yellow channel, it could be it's 5th attempt and that may not be a good sign in the short term
Nifty likely to change gear and shift to red channel.
Important levels on the lower side 15780 / 15628 / 15450
Important levels on the upside 15960 / 16030
I would be writing another post on F&O Data analysis. Some interesting stats are coming up... So keep watching
If you don't want to miss an update from me
Like & Follow...
But don't just follow me blindly....
I encourage you to learn to identify opportunities independently
Disclaimer:
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- Use this for educational purpose
- Any decision you take, you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- if trading in F&O, understand that F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be
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