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Nifty short term view

Scheduled Pinned Locked Moved Charts
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  • R Offline
    R Offline
    Raju Ranjan

    Pro User

    wrote on last edited by
    #1

    Despite concerns of selling pressure last week, NIFTY50 managed to hold the crucial support
    level at 18600, defying expectations. Instead, it resumed its upward trend, reaching a new all-
    time high. The current chart setup of NIFTY50 remains bullish, with X% breadth still in the neutral
    zone. This indicates that a breakout trade may present a favorable opportunity.
    Furthermore, a bullish broadening price pattern has emerged, not only in NIFTY50 but also in the
    majority of stocks. This similarity in patterns suggests that any follow-through in the market will
    present an opportunity for fresh entries. It is important to monitor the trend continuation in
    NIFTY50 in the coming days.
    For short-term traders, identifying key support and resistance levels is crucial. The short-term
    support range for NIFTY50 is expected to be between 18600-18700, while the short-term
    resistance is anticipated around 19700-19800.

    01 July Nifty 50.png

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