Hello fellow traders,
I'd like to share my analysis of the Nifty charts for educational purposes. Based on the chart, here's my understanding:
- If the price reaches primary support, it may bounce back to primary resistance, and vice versa.
- If the price breaks above primary resistance and retests it, it could target secondary resistance. A pullback from secondary resistance might lead it back to primary resistance.
- Conversely, if the price breaches primary support, it may head towards secondary support and potentially rebound back to primary support.
Remember to always use stop-loss and consider EMA 20 for identifying potential price retracements.
Wishing you a successful trading session tomorrow!
Best regards
I'd like to share my analysis of the Nifty charts for educational purposes. Based on the chart, here's my understanding:
- If the price reaches primary support, it may bounce back to primary resistance, and vice versa.
- If the price breaks above primary resistance and retests it, it could target secondary resistance. A pullback from secondary resistance might lead it back to primary resistance.
- Conversely, if the price breaches primary support, it may head towards secondary support and potentially rebound back to primary support.
Remember to always use stop-loss and consider EMA 20 for identifying potential price retracements.
Wishing you a successful trading session tomorrow!
Best regards
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