As we can see in the chart nifty closed above the down trend channel. and we can expect the market to test the upper resistances.
Imp level is 127% above the all time high and the all time high it self. If price is not able to sustain above these levels then the price can fall sharply.
I am using the hourly chart structure to decide the imp support and resistances as intention of this analysis is to judge price movement in near future.
Price is in short term uptrend and the trend reversal dates are near.
are the next dates to observe.
I have mentioned the important levels in the previous analysis. keep them marked on the chart.