Nifty: The possibility of Nifty fluctuations (20 Feb 2019)
Index name : Nifty
Action : Short Sell
Entry : 10550-10700
Stop loss : 10950
Target : 9993-8890
Duration : 3 to 6 months
Analysis date : 20 Feb 2019
There is currently a head and shoulders chart pattern in the Nifty. Apart from this, the availability of ascending triangle in a modest time limit, that’s the reason Nifty consumes time with many false broken signals.
Finally the minor trendline and ascending triangle was broken, which was confirmed on February 15, 2019.
The possibility of nifty fluctuations shown on the chart, let’s see :
– A long time frame is showing us, it can take support 10350-10400.
– If the bounce back is not sustainable, then the trend line of the longer time frame can break and try to touch the next support 9993-8890
Resistance levels are:
10708 10800 10837 10955 11050 11118
Support levels are:
10646 10599 10551 10397 10230 9993 8890
Previous analysis post:
Upcoming levels & scenario will update
Stock market is subject to market risk. This analysis is education purpose only.
Its opinion, buy-sell it’s your choice.