Nifty Weekly Technical View For Week 4 July
Nifty Hourly Chart
Nifty Hourly chart is showing continuation move in in the parallel channel as shown in the above chart. Nifty sold off from High of 5700 which has been a resistance as marked in previous post.
In Up move Previous support becomes resistance and vice -versa.
5605-5610 was a resistance in previous up move and hence becomes support now. Below it 5575 should provide support below it weakness will come in Short term technical.
The first and most important aspect of trading is finding support and resistance and then planning your trade based on Risk …
Nifty Hourly chart is showing continuation move in in the parallel channel as shown in the above chart. Nifty sold off from High of 5700 which has been a resistance as marked in previous post.
In Up move Previous support becomes resistance and vice -versa.
5605-5610 was a resistance in previous up move and hence becomes support now. Below it 5575 should provide support below it weakness will come in Short term technical.
The first and most important aspect of trading is finding support and resistance and then planning your trade based on Risk …
posted by Bramesh at
1:15 PM
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