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Nifty Price Action Analysis "Double Top"

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NSE:NIFTY   Nifty 50 Endeksi
Hourly Time Frame Analysis

The above chart of Nifty 50 laid out an Double Top, also known as the trend reversal pattern. A double top is a reversal pattern that is formed after there is an extended move up.

The “tops” are peaks that are formed when the price hits a certain level that can’t be broken(Resistance 17475).

Currently Nifty near to the support level of 17350 .

Let's figure out the probability of Nifty

Probability 1 : Nifty will retest the level of 17350 and then it will give a break above 17450 and then price of Nifty may reach 17600.

Probability 2 : Nifty will break the level of 17350 and then price of Nifty may reach 17230


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Feragatname

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