Hello Traders,
The NIFTY50 has moved into the upper rectangle and touched the blue trend line, which is resistance. On Friday, it tried to cross the line but failed. This underlines the importance of this line!
For the bulls!
If N50 moves its way, the next target is around 22500 range, which will make a crossing of the blue line happen in the coming sessions. More bullish potential exists! Probably at or around 22900 zone.
The bears will have to watch if N50 fails to break below the line and cross 22055-22080 area with potential to 21763!
At the moment, there is no trend that is short term. So we have to watch and read the candlesticks on Monday's session.
The count was unchanged, and I expect a new ATH in the coming week.
Again! Note the decreasing volume (below the chart)! Normally, the volume should increase with price. In this case, it is clearly not!
Have a great week.....
Ruebennase
Please ask or comment as needed.
Trading based on this analysis is at your own risk.
The NIFTY50 has moved into the upper rectangle and touched the blue trend line, which is resistance. On Friday, it tried to cross the line but failed. This underlines the importance of this line!
For the bulls!
If N50 moves its way, the next target is around 22500 range, which will make a crossing of the blue line happen in the coming sessions. More bullish potential exists! Probably at or around 22900 zone.
The bears will have to watch if N50 fails to break below the line and cross 22055-22080 area with potential to 21763!
At the moment, there is no trend that is short term. So we have to watch and read the candlesticks on Monday's session.
The count was unchanged, and I expect a new ATH in the coming week.
Again! Note the decreasing volume (below the chart)! Normally, the volume should increase with price. In this case, it is clearly not!
Have a great week.....
Ruebennase
Please ask or comment as needed.
Trading based on this analysis is at your own risk.