IIT-Trader

NIFTY-Today bullish move created to exit the long positions??

NSE:NIFTY   Nifty 50 Index
Observations:
-------->>Nifty trending upwards, today it proves that it's a retracement not a reversal sign.
-------->> Again showing bullish movement in nifty, witnessed buyers are still in control.

today bullish move created to exit the long positions?? why don't we think sooo....
-------->>We suspect that if it is a false breakout in nifty above 18260 level, this time the fall will be below 18060 levels.
-------->> At this point 18250 level, sellers are exists by showing a huge gap down, why don't we think of sellers may again push the price towards downside.
--------->> If we consider these 2 levels, 18200 or 18100 they are not strong enough to push the price higher, so if price started falling it may clear all these levels, and we have an untested demand zone@17960 levels.

NOTE:
Is this false breakout above 18260.
NIFTY- which level Holds 18200 or 18100 ??

**If these ideas are Helpful !
Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
--Not SEBI Registered--
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.