Nifty Futures : Overall market positioning and important levels.
Chart type : Heikin Ashi
Time frame: Daily
Tools Used:
Fibonacci for levels.
Heikin Ashi candles for momentum.
Moving averages for the behavior of the price.
Analysis:
We have a series of continuous red HA candles which indicates the weakness in momentum. Also the price is trading below the first band of moving averages. The next important level to watch is 23.60% retracement level which is 19412
Thanks
S. Simranjit Singh Virdi
(Independent Trader)
Time frame: Daily
Tools Used:
Fibonacci for levels.
Heikin Ashi candles for momentum.
Moving averages for the behavior of the price.
Analysis:
We have a series of continuous red HA candles which indicates the weakness in momentum. Also the price is trading below the first band of moving averages. The next important level to watch is 23.60% retracement level which is 19412
Thanks
S. Simranjit Singh Virdi
(Independent Trader)
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