NIFTY PRE MARKET ANALYSIS 14/10/2022 E2
Good Morning Everyone,
-->If we observe price action yesterday, in the second half Nifty started showing bullishness. Price has failed to break previous low and started going up till dynamic trend line.
-->So everything together formed big double bottom.
-->After seeing SGX Nifty yesterday at 16800 I thought today will be completely different day. But SGX Nifty turned around and went all the up to 17280 -17300 levels.
-->After breaking the trendline now price will try to shift the zone first.
-->Will the gap up sustain?
-->If we measure the distance from yesterdays closing and to todays opening (say 17280 -17300) It will be more than 1% increase.
-->Things to keep in mind today.
-->5 Min breakout or 15 min Breakout should work today.
If price breaks 5 min candle or 15 min narrow range breakout we can enter the trade in the price direction.
--.If the price comes down after opening to neck line then look for buying opportunities.
If price start going up
Resistance 1-17350
Resistance 2-17425
If Price start coming down
Support 1-17140 - 17170
Support 2-17070
-->When the market is live observe the price action whether it is creating higher highs and higher lows or lower highs and lower lows . You will get all the answers.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
If you think video analysis will be good for better understanding & If you want me to do video analysis pls give a boost. If I can get 2000 boosts overall on my profile I will start doing video analysis. Need motivation very badly.
-->If we observe price action yesterday, in the second half Nifty started showing bullishness. Price has failed to break previous low and started going up till dynamic trend line.
-->So everything together formed big double bottom.
-->After seeing SGX Nifty yesterday at 16800 I thought today will be completely different day. But SGX Nifty turned around and went all the up to 17280 -17300 levels.
-->After breaking the trendline now price will try to shift the zone first.
-->Will the gap up sustain?
-->If we measure the distance from yesterdays closing and to todays opening (say 17280 -17300) It will be more than 1% increase.
-->Things to keep in mind today.
-->5 Min breakout or 15 min Breakout should work today.
If price breaks 5 min candle or 15 min narrow range breakout we can enter the trade in the price direction.
--.If the price comes down after opening to neck line then look for buying opportunities.
If price start going up
Resistance 1-17350
Resistance 2-17425
If Price start coming down
Support 1-17140 - 17170
Support 2-17070
-->When the market is live observe the price action whether it is creating higher highs and higher lows or lower highs and lower lows . You will get all the answers.
*SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY.
*NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES.
If you think video analysis will be good for better understanding & If you want me to do video analysis pls give a boost. If I can get 2000 boosts overall on my profile I will start doing video analysis. Need motivation very badly.
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