NIFTY--Trendline Holds or Breaks??

2024年2月28日

Nifty index is showing strong bearish pressure from the 22200 levels.
A drop base drop is done.
Price tested the demand zones at 21960 levels.
now it is ready to move again or fall back to below trendline to grab the liquidity.
On bottom side, strong support at 21800 levels with an intersection point at trendline...
this is likely to push the price upwards....
If price breaks the trendline an observation point of resistance at 22100-22150 level is the strong resistance to push the price downwards.
If consolidation is observed above this levels leads to an breakout above 22300 levels for the targets likely to be 22500 followed by 22600 levels by keeping the SL at 22100-22150 levels.

If price falls from 22100-22150 levels, it will consolidate on bottom side to test the 21300 levels of support and will likely to continue to bottom side.
this is the crucial place to observe in NIFTY To continuation or Bearish??

2024年2月29日

註釋

moving in a channel

2024年2月29日

註釋

wait until price breaks the channel...sl is too big to enter...

2024年3月1日

註釋

A Retest to the base is compulsory for further move in NIFTY INDEX