Nifty50 is in strong uptrend and my personal view on Nifty is bullish medium to long-term.
However, you can expect correction soon. So, for swing traders and investors correction may provide you an opportunity to enter.
That's why you need to know from where Nifty50 might bounce back. So, I draw key diagonal Support and Resistance level.
Wait for these levels...
#nifty50 has reached an important level i.e 11200,
Why Important - As its a level from where we had seen straight fall in nifty50.
Current Price Action Observation
Check the size of the candles of the last two rallies, most of them were indecisive candles.
Check the difference between the peaks, they are contracting.
Currently, price action, suggesting that the...