"Nifty" pattern and ratio, 04.03.2023

4 Mar 2023

publishing herewith my idea about price relation with patterns and also the ratio
mostly i found traders are interested in fib, actually it gives good results, but, again a pattern trader mostly look for a pattern and ratio's

will provide price range after opening candle

4 Mar 2023

Not

here price closed above a important price line which acted as support multiple time
from where price started its upward journey

here we have 2 resistance from trendlines , a gap up will bypass the resistance

6 Mar 2023

Not

price almost completed its day closeup
at an imp weekly junction /resistance

6 Mar 2023

Not

41764 is 1st pattern resistance, if price moves above 17841 -17861 imp

6 Mar 2023

Not

41658 4 hr ic

6 Mar 2023

Not

some upward MA close up pending better wait

6 Mar 2023

Not

12:30/ 13:15

6 Mar 2023

Not

so after 13:15 price gave some effective downward movement

today it is all about moving averages, dozi and Inside candle
on last Friday a weekly dozi acted as resistance for the price, today also it came into picture
41677,41265 and 41258 are the high , open and close levels of that dozi, price opened above the dozi ,which acted as a support, as already told, close-up of some MA's was pending , which has been completed today.

In nifty we have major MA's close up today, right from 30 min to day level, that's why , nifty was showing strength, again price opened above a support level and got resistance from a weekly dozi and also from a weekly inside candle