Price has formed a Fresh Weekly Demand and should retrace into it for a pullback, therefore this is a counter trend trade, but with a favourable Reward to Risk Ratio.
We have a selling confirmation in Daily and this is a positional Trade in the downward direction should take 15 days to reach the Target.
ENJOY THE RIDE ! ! !
Price has violated a Weekly Demand area and formed a Monthly and Weekly Supply area.
After reacting to this Supply we directly have a Fresh Demand formed @ 16275.00
Price has been violating Demands and respecting Supply zones since last week, Now yesterdays closing has happened into a Daily Engulfing Supply,
17428.20 is the LEVEL to be achieved.
![NIFTY: [{NIFTY TO FALL FOR 2.21% or 400 points}]](https://s3.tradingview.com/a/aSFgYLGn_mid.png "[{NIFTY TO FALL FOR 2.21% or 400 points}]")
