Gift Nifty channel patterngift Nifty is on channel pattern.
first support in 22500 next support in 22000
NIFTY1! trade ideas
Further correction likelyNifty traded in the daily fair value gap and taking resistance at the mid of the long term upward channel yesterday. There are 2 scenarios that could play out. The unlikely of the 2 is it breaks the resistance trend line and move up towards the top of the channel. The second more likely scenario is that it could test the bottom of the fair value gap OR even come lower to test the order block below that. 22600 or 22500 could be likely in this case.
Safe traders might withdraw their money form the market and wait for election results. This could trigger a deeper retracement.
DayTrading Nifty-Sold Below 23050,Bought Above Day high 27th MayBelow mentioned points are discussed in my post analysis video(Fast forward to 0:41 for Hindi Audio)
-No Trades in the morning
-Poor Volumes in nifty before 10
-Sold Below 23050,Bought Above Day high!
-How will i trade when market opens tom
Flying Index, Strolling Future!Nifty FUT does not seem keen to move up and that is a little worrisome. We are at striking distance to ATH but the timing is not to brilliant. Election results are still a couple of weeks away. We could move up a little and then retrace to consolidate near the 50% mark. This looks like a logical scenario. But informed institutions could take big positions and that could go against any narrative. Will trade only after watching for a while.
Nifty special session Sat live.Don't see any major movement happening on Nify special live session on this saturday.
Lack of volumes are telling, there is huge difference between daily average and today's volume.
We will likely travel in the initial balance area of today and close to yesterday's POC.
