Nifty showing negativity but still we are making higher high and higher low,
We will not consider it downtrend unless it breaks its previous swing low of 14230.
Breaking low of 14230 will make a kind of double top pattern and staying below that level
will bring nifty to downtrend.
As per my view nifty should take support at current level which is 100 period ema,
another support level is 14075 which is also 200 period ema of 1 hour time frame,
breaking 200 ema will lead to extreme support level of 13765.
...
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Updated on : 23-JAN-2021 2.25 pm
Disclaimer: Only for learning purposes.
We will not consider it downtrend unless it breaks its previous swing low of 14230.
Breaking low of 14230 will make a kind of double top pattern and staying below that level
will bring nifty to downtrend.
As per my view nifty should take support at current level which is 100 period ema,
another support level is 14075 which is also 200 period ema of 1 hour time frame,
breaking 200 ema will lead to extreme support level of 13765.
...
If you like, just hit the thumbs-up button
or comment and share.
.
Updated on : 23-JAN-2021 2.25 pm
Disclaimer: Only for learning purposes.