Good weekly close in NIFTY50(19/06/23).
One fall another day a good point make up.
Nifty is just around its ATH. Is it going to break past the ATH as Banknifty or will still take time to break through the major level?
A very bullish candle and close, on the weekly charts, shows some strength in the market. Nifty has traded stronger and has sustained above 18800 levels.
The bullish move is being expected but RSI indicator is showing some bearish divergence on the weekly as well as daily charts.
Positional and swing trades should be initiated once the 18770-18900 levels are taken out.
Markets have travelled without any serious retest. There are chance of market trapping the bulls.
If markets take resistance near 18900 levels and forms a entry, bearish trade can be entered.
The market on the daily charts, has formed a upper wick candle but in green. The indecision in the market between the seller and buyer is still to be decided and major levels break out or break down can give big targets.
Major Support :- 18770, 18700, 18580
Major Resistance :- 18870-900(ATH)
Wait for the price action near the levels before entering the market.
Nifty is just around its ATH. Is it going to break past the ATH as Banknifty or will still take time to break through the major level?
A very bullish candle and close, on the weekly charts, shows some strength in the market. Nifty has traded stronger and has sustained above 18800 levels.
The bullish move is being expected but RSI indicator is showing some bearish divergence on the weekly as well as daily charts.
Positional and swing trades should be initiated once the 18770-18900 levels are taken out.
Markets have travelled without any serious retest. There are chance of market trapping the bulls.
If markets take resistance near 18900 levels and forms a entry, bearish trade can be entered.
The market on the daily charts, has formed a upper wick candle but in green. The indecision in the market between the seller and buyer is still to be decided and major levels break out or break down can give big targets.
Major Support :- 18770, 18700, 18580
Major Resistance :- 18870-900(ATH)
Wait for the price action near the levels before entering the market.
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