Nifty itself telling its story if you know how to listen
What's #Nifty telling about market direction?
1. See the green line? That's the trendline on daily chart. So Nifty managed to close above that line. What does it mean? Simple - Trend is still up.
2. Support at 24367 and resistance at 24602. If we crosd and close above the resistance level on 1 hour chart then we can see a good short covering. Short covering means, the people who have shorted the index will book their profit/loss/stoploss.
3. Note today's candle. You see that bounce-back candle? It kicked out many weak hands out of the market and created the space for next month. How nifty behaves this week will decide August's trend.
Anything you want to add further?
#trendx #trading #stockmarketsindia
1. See the green line? That's the trendline on daily chart. So Nifty managed to close above that line. What does it mean? Simple - Trend is still up.
2. Support at 24367 and resistance at 24602. If we crosd and close above the resistance level on 1 hour chart then we can see a good short covering. Short covering means, the people who have shorted the index will book their profit/loss/stoploss.
3. Note today's candle. You see that bounce-back candle? It kicked out many weak hands out of the market and created the space for next month. How nifty behaves this week will decide August's trend.
Anything you want to add further?
#trendx #trading #stockmarketsindia
免責事項
これらの情報および投稿は、TradingViewが提供または保証する金融、投資、取引、またはその他の種類のアドバイスや推奨を意図したものではなく、またそのようなものでもありません。詳しくは利用規約をご覧ください。