Verdict:
Bearish, but also having price action level where it might take support.
Plan of action:
Make the postion once market show a bullish signal like double bottom or bullish hammer.
Nifty have been falling for last whole week. Now it has come to the zone where it has a nice support zone. Nifty might take support near 19250 as shown in the chart.
Nifty seems to be roaming in Range of 19250 – 19500.
Reason:
Verdict:
Bearish, but also having price action level where it might take support.
Plan of action:
Make the postion once market show a bullish signal like double bottom or bullish hammer.
Disclaimer:
The information provided in this blog post is for informational purposes only. It is not intended as financial, investment, or trading advice. The author is not a licensed financial advisor or professional.
Trading and investing in financial markets carry inherent risks, and past performance is not indicative of future results. Readers should conduct their research, consider their risk tolerance, and consult with a qualified financial advisor before making any trading or investment decisions.
The author is not responsible for any financial losses or gains that may result from actions taken based on the information presented in this blog post. All trading and investment decisions are made at the reader’s own discretion and risk.
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