#Nifty March 2nd, 2023
15 Minutes
Nifty falling from 18134.75 levels.
Holding low 17255 so far.
In 15 minutes above 9,21,50 and 100 averages.
Made an HH HL pattern.
So, if HL @ 17394 is held then we can see some uptrend.
Now the retrace levels for the fall from 18134.75 to 17255 is drawn.
Nifty has retraced the first level.
38.2% is around 17570 which is also 200 average levels.
We also have one HH at 17599.75.
So, this number looks probable.
Pros
Oscillator 5,35 is green.
Stochastic black bar on top indicating bullishness.
CCI is positive.
Cons
I consider weakness as long as price is below 200 averages in timeframe.
I took only 15-minute chart today because I found a HH LH pattern in my setup.
15 Minutes
Nifty falling from 18134.75 levels.
Holding low 17255 so far.
In 15 minutes above 9,21,50 and 100 averages.
Made an HH HL pattern.
So, if HL @ 17394 is held then we can see some uptrend.
Now the retrace levels for the fall from 18134.75 to 17255 is drawn.
Nifty has retraced the first level.
38.2% is around 17570 which is also 200 average levels.
We also have one HH at 17599.75.
So, this number looks probable.
Pros
Oscillator 5,35 is green.
Stochastic black bar on top indicating bullishness.
CCI is positive.
Cons
I consider weakness as long as price is below 200 averages in timeframe.
I took only 15-minute chart today because I found a HH LH pattern in my setup.