NIFTY--18700 Or 18200

Observations:: NIFTY
----->> if we see monthly candle it is a strong bearish candle,


------>> If we see weekly analysis, price enters into a zone where previous strong rejection area.
we are still in that area , High of that area is 18700.so we will buy up to 18700 area.


------>> If we go for daily analysis, price enters in that area and showing downward pressure,
price created a support in the zone @18060 level, while entering in to the resistance area.
so that level acts as support and price moved to the resistance zone again with strong bullish candle,
and breaks the previous resistance @18460 level.


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Now we can see the clear picture,

Case1::
If Yesterday strong bullishness is a manipulation and fake breakout above 18460 level,
we are going to sell below 18400 where previous strong resistance, for the target's of
18360-18320,18260,18200 only.
while breaking the resistance @ 18460 price created a support @18200 level which is a new support.


case 2::

If this is a strong breakout, we have a next resistance @18700 level,
we will continue to move in the same direction, but a retracement is needed to go long,
after breaking the resistance @18460 levels no proper retracement is not seen.
if retracement is done to these levels, 18460-18400 levels and will go for buying above 18460
for targets of 18500,18570-18610 and 18700 levels.

@18570-18610 level previously bullishness and bearishness is observed @ same zone.



So clearly this week price is ranging above 18200-18700, in the middile we have resistance @18460 zone,
if this zone acts as support we go for buying up to 18700 levels,
if again acts as resistance will go for selling up to 18200 levels.