Earlier I had posted a NIFTY idea on 14th May that NIFTY was at a make on break situation. It bounced from the lower trendline and gave an upmove. Now it has faced rejection from 200 EMA and gave a weak closing. SGX NIFTY indicates a gap down for tomorrow.
Scenario 1: NIFTY can retest 16400 levels (fill one gap till 16371) and bounce from there.
Scenario 2: NIFTY can retest trendline 2 (fill another gap and make a triple bottom) and bounce from there
Scenario 3: NIFTY can break down trendline 2. Kindly refer to my previous idea for breakdown levels.
For intraday tomorrow crucial levels on lower side are 16440, 16400 and 16371.
Learn & Earn,
Dr. Tanya Kumar
Scenario 1: NIFTY can retest 16400 levels (fill one gap till 16371) and bounce from there.
Scenario 2: NIFTY can retest trendline 2 (fill another gap and make a triple bottom) and bounce from there
Scenario 3: NIFTY can break down trendline 2. Kindly refer to my previous idea for breakdown levels.
For intraday tomorrow crucial levels on lower side are 16440, 16400 and 16371.
Learn & Earn,
Dr. Tanya Kumar
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Previous idea
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Intraday levels
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TG channel t.me/priceactionchart
My TG ID @tanya151181
Course details:
tinyurl.com/PAC2COURSE
All Ideas posted by me are for Educational Purpose.