When it comes to the technical analysis of NIFTY, it is in an uptrend. Right now price is staying near 17818. But it is not a good idea to go long from that price range. And the price is a tad far away from the previous demand area; which means the price is expensive right now. So you should only buy the security if the price pulls back to the previous demand zone; where price is cheaper. There is a good chance the price might get rejected from the previous supply area. So you could expect a pull back to previous demand zone. If it does, you may go long by placing the stop below the demand zone. Your targets are T1, T2 and T3.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
If you find this technical analysis useful, please like & share our ideas with the community.
What do you think is more likely to happen? Please share your thoughts in comment section. And also give a thumbs up if you find this idea helpful. Any feedback & suggestions would help in further improving the analysis.
Good Luck!
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.