Nifty Short Term View(Hourly Chart)
Nifty Short Term View(Hourly Chart)
22150-22200 is the Major Resistance For Nifty as per PRZ (Potential Revarsal Zone).
In Daily Chart, Nifty has Formed a Double Top & shooting Star Candle @ Resistance, which is as sign of Reversal.
If Nifty Breaks 21780 on Downside, XABCD ACtivates and one can plan a Agressive Short position for the targets of 21600/21400/21200.
On Monday If Nifty Tests Resistance Again and Forms a M Pattern in lower Timeframes, Plan a Short, Because RR is Very Good From Top.
Long Position is Considered only Above 22200, but approach should be CONSERVATIVE, Since Nifty is Overbought as per Daily Chart.
22150-22200 is the Major Resistance For Nifty as per PRZ (Potential Revarsal Zone).
In Daily Chart, Nifty has Formed a Double Top & shooting Star Candle @ Resistance, which is as sign of Reversal.
If Nifty Breaks 21780 on Downside, XABCD ACtivates and one can plan a Agressive Short position for the targets of 21600/21400/21200.
On Monday If Nifty Tests Resistance Again and Forms a M Pattern in lower Timeframes, Plan a Short, Because RR is Very Good From Top.
Long Position is Considered only Above 22200, but approach should be CONSERVATIVE, Since Nifty is Overbought as per Daily Chart.
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