NIFTY day chart analysis - Channel and 200 day SMA

8 May 2019

200 day SMA and channel bottom support coinciding as shown.
A crucial level hence a bounce or break could be highly decisive in determining the direction of NIFTY in days to come.

For now we are on wait and watch mode.

14 May 2019

Not

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Moving towards the channel bottom as plotted.
Lets wait and watch to see what happens here before we take any position.

15 May 2019

Not

Moving as plotted

17 May 2019

Not

So far Nifty moved exactly as per our previous analysis. Finding support at the channel bottom. The bounce could be a temporary one and it could come and re-test the channel bottom again.
Currently on wait and watch mode.

22 May 2019

İşlem aktif

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NIFTY is still trading within the channel.

11050-10950 is going to be a crucial support. IF this support is broken then there could be a huge sell off towards 10450-10030

STAY AWAY FROM TRADING for next couple of days!

22 May 2019

Not

"Trading active" selected by mistake. Please ignore

23 May 2019

Not

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Channel top going to offer string resistance. Watch out!

23 May 2019

Not

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Channel top going to offer strong resistance. Watch out!
Retail traders enjoy the show by not trading for couple of days :)

23 May 2019

Not

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Nifty facing strong resistance exactly at the channel top as mentioned above!

4 Haz 2019

Not

Facing strong resistance t the channel top.

11 Tem 2019

Not

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