Nifty 50 | Potential strong support and Demand zone
Hello friends, After witnessing a fall all thorugh out last week, it seems market is approaching a strong support and demand zone.
Immediate supports at 19636, and 19575-550 (last demad zone + 50EMA on D chart)
Planning a swing trade on a strong 30 mins buying candle at any of these levels.
Market might retest these levels, so will add some more position on a potential double bottom.
SL will be areound 525.
Targeting the levels of 19900 (TP1) and 20100 (TP2).
We might see Nifty spending 1-2 days in the 200 points range between 19580 amd 19790.
If Nifty will fail to push over 19790 by this week's expiry, we might see Nifty trying to break below 19550.
I am anticipating that if Nifty goes to test 19500, it will wick out 19500 level.
Thanks for reading, Have a great week ahead!
Give this post a like, if you agree with this analysis.
Disclaimer: This is my trading plan and i am just sharing it here. I do not intend to post it here as a trading advice or suggestion. It is shared here only for the sole purpose of sharing and discussing with fellow traders. Do your own due diligence and trade responsibly.
Immediate supports at 19636, and 19575-550 (last demad zone + 50EMA on D chart)
Planning a swing trade on a strong 30 mins buying candle at any of these levels.
Market might retest these levels, so will add some more position on a potential double bottom.
SL will be areound 525.
Targeting the levels of 19900 (TP1) and 20100 (TP2).
We might see Nifty spending 1-2 days in the 200 points range between 19580 amd 19790.
If Nifty will fail to push over 19790 by this week's expiry, we might see Nifty trying to break below 19550.
I am anticipating that if Nifty goes to test 19500, it will wick out 19500 level.
Thanks for reading, Have a great week ahead!
Give this post a like, if you agree with this analysis.
Disclaimer: This is my trading plan and i am just sharing it here. I do not intend to post it here as a trading advice or suggestion. It is shared here only for the sole purpose of sharing and discussing with fellow traders. Do your own due diligence and trade responsibly.
Dagangan aktif:
Took a long trade at the Break of High of the first green candle at 575-55- zone as planned.
Planning to hold for a 5-6 trding sessions or targets 19900 and 20100 as planned, with SL below 19600 giving trade breahing space.
Planning to hold for a 5-6 trding sessions or targets 19900 and 20100 as planned, with SL below 19600 giving trade breahing space.
Dagangan ditutup: hentian tercapai:
Trade closed at 30 min close below 600