Nifty Knows Everthing But Do You Know ?

12 בינו׳

In light of the ongoing discourse surrounding market trends and fluctuations, I decided to delve into this topic through a straightforward simple technical analysis, focusing exclusively on the principles of support and resistance.

As depicted, there is a key level referred to as the "flip line" which serves as a robust support for the price. From this juncture, two primary scenarios can unfold:

1. Should the price breach this critical flip line support, it is likely to gravitate toward a stronger support level below as target.

2. Conversely, if the price rebounds from this level for any reason, the ensuing upward momentum may drive it toward the resistance level identified above as target.

This analytical framework aims to simplify market dynamics for better comprehension.

Best regards-: Amit.

28 בינו׳

עסקה פעילה

So as you can see after publishing the idea, the price broke the flip line very strongly which is a support line and retested it like a good breakout. The initial very light shorts which were added at the time of retest (23300) are in good gains. The flip line may act as a resistance this time. If this happens more shorts will be added and for the current trade position let us assume a stop loss of the cost. I will make further updates available to all of you by writing a note below.

5 בפבר׳

העסקה בוטלה באופן ידני

Trailing stop loss triggred as mentioned in update above, will share fresh view on Nifty soon.