Hi,
If you are tracking the lvls closely setup is doing great and we got all the tailed closes of candles(10 min) throughout the day at 4980. At 1 pm got whipsawed with one big green candle which indeed shooted 14 points from the resistance levels but again got back in the rang leading to another downside fall all the way to 4940. Now with these setup one can trade this interesting symmetric triangle breakout which can give nice directional move.
So as per symmetry too 4980 will continue to hold good resistance and downside targets are getting very much possible as we are getting interesting signals throughout globe if fundamentals are things too go by. Anyways I would love to go by this setup as it is not satisfying all the criteria for a decent downside rally.
By the way in last post I told you about banking sector giving support to this rally and today banknifty movement indeed leaded nifty movements. So one more tool which is giving nice symmetry to the nifty apart from symmetric triangle and ofcourse this whole Grand Levels Setup which I'm trading now.
Hope you loved reading it.
Happy Trading!!
If you are tracking the lvls closely setup is doing great and we got all the tailed closes of candles(10 min) throughout the day at 4980. At 1 pm got whipsawed with one big green candle which indeed shooted 14 points from the resistance levels but again got back in the rang leading to another downside fall all the way to 4940. Now with these setup one can trade this interesting symmetric triangle breakout which can give nice directional move.
So as per symmetry too 4980 will continue to hold good resistance and downside targets are getting very much possible as we are getting interesting signals throughout globe if fundamentals are things too go by. Anyways I would love to go by this setup as it is not satisfying all the criteria for a decent downside rally.
By the way in last post I told you about banking sector giving support to this rally and today banknifty movement indeed leaded nifty movements. So one more tool which is giving nice symmetry to the nifty apart from symmetric triangle and ofcourse this whole Grand Levels Setup which I'm trading now.
Hope you loved reading it.
Happy Trading!!
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