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GIFT nifty is got the support from weekly trend line

Gift Nifty is moving within a weekly and monthly channel, will try to give this month daily analysis in the below comment section

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monthly channel

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index is following few 5 Min patterns

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below 4H 200 MA and with in the pattern

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simply moving within 2 trend lines

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nifty closing

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nifty respected the day inside bar low but closed very near to it. so a gap down opening will make it as a possible resistance

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10 MA applying downside pressure trying to reach 20 MA , needs a strong upward movement to nullify it

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trying with full force

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might be intresting

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weekly closing

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continue with the pressure close up pending and a trend line

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seems not respecting the weekly inside bar level, possibly test the lower inside bar level with proper sl

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20 mins next 4H candle may be volatile

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tradingview.com/x/vXh5BwO2/👍 green to green, continue with momentum with caution

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my pattern range lines
yellow- 4Hr
green - day
light blue - week
white- month
solid-imp.
dotted -lesser
dashed - inside bar range

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these lines might work or may be not but r important caution points
i try to use smaller tf to gauge the strength of price at these levels
solid lines represents my normal tf levels,
there r others levels also like -
proportionate levels
extended levels, if price is showing a very strong movement

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dxy and green line

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gold

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weekly lines remains in the chart for a week, daily needs daily update

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important point for me is opening price, lines or trend lines above the opening price will acts as a resistance and below one as support, again these lines will not work always, just use these lines as reference/caution points , try to notice the price behavior wrt these lines

for direction ,i use MACD and Moving average close ups, not the crossover,some time RSI

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dotted green line is the day proportionate level, worked many time above the normal day level, beyond it day extended levels/ extended weekly levels

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new normal day range

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again consider these lines as a caution point, try to use smaller tf at these levels, an event like adani has the potential to break all these lines in a single day, but mostly respects the extreme levels, very helpful in normal trading days