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..
