NIFTY ANALYSIS

 NAMASTE..

I'm posting after a huge gap of almost 7 years. I hope to continue the same. Indices have gone for a rollercoaster ride in these years and have reached ALL TIME HIGH...WOW..

Now, WHAT NEXT??? 

The question in minds of traders - 

•  will it sustain?
• when will the market start to fall again?
• will I miss the run again?

and so on and so forth....

Let's just keep all these aside and just focus on charts - Price action - which when followed meticulously - will ultimately lead to the path of success. Let's jump straight to analysis:

NIFTY:

1 Dec 2022 -

 High -   18887

 Low -   18778

 Close - 18812

18760 - 18750  - 

Channel support

50% fibonacci levels

break below can lead to 18600 levels.

Breakout above 18340 -350 a new ATH is likely

INTRADAY TRADE PLAN:

** BUY @ 18770 LEVELS SPOT SL - 15MIN CLOSE BELOW 18750. - 

Caution: in case it is the 4th wave ongoing - it tends to break below trend line and revert.

** SELL BELOW 18740 - FOR TARGET UPTO 18600 SL 15 MIN CLOSE ABOVE 18760 - i.e back into the channel..