The market began it's journey to the top on 4th August, 2020.
After the clear breakout of the flag pattern on 21st August, the rally continued.
Reaching the top on 3rd September. It couldn't break the record high and later came down to those same levels for a bounce back.
The second attempt to reach the high was made on 13th October, but failed to do so. Similarly on the 19th as well.
Now, they are heading back to the support channel of 26500-26100.
A huge volatile consolidation might be seen in the coming days.
I don't trade on this particular index, just a broad view to help me trade on NIFTY and BANKNIFTY during the live market hours.
Happy Trading
After the clear breakout of the flag pattern on 21st August, the rally continued.
Reaching the top on 3rd September. It couldn't break the record high and later came down to those same levels for a bounce back.
The second attempt to reach the high was made on 13th October, but failed to do so. Similarly on the 19th as well.
Now, they are heading back to the support channel of 26500-26100.
A huge volatile consolidation might be seen in the coming days.
I don't trade on this particular index, just a broad view to help me trade on NIFTY and BANKNIFTY during the live market hours.
Happy Trading