NIFTY--20K or 19K ??

已更新

Nifty ::
Today price broken the channel and retested...showing bullish momentum towards upside..
if this momentum continues or reversal takes place....

what pivot points are suggesting us ::
If we see on the Monthly Chart price is broken the R1 with consolidation with a up channel...
Resistance R1 is placed @19440 level broken and reach the R2.
if we see the next resistance is placed @20175...will price really reach the R3.

On bottom side if we see support is located @18700 level...

If we see the weekly analysis price is broken the Weekly-R1, and next resistance is located at 19763 level.
so we have weekly support located at 19400 range...
the next targets for weekly on above side is located at 19765 and 19930 levels.

If we see the daily Levels::
Today price broken the R1 with consolidation...and breaks the R2.
and the next resistance is located R3=19790 Level,which is weekly Resistance.
so tomorrow we may reach this levels,
so consider them as levels of resistance...

The support is located @19470 range, which is slightly above the weekly support.
the next 2 resistances are 19790 and 19890 Levels.

so, until price breaks this level Support point located at S1,19470 We will not go for short side.
consider today observations::
price is broken the R1 strongly with consolidation...
if this R1 acts as support will be on buyside for targets of R2,R3,R4 as shown in the chart.
if price tests R1 and not able to Break R2, breaks R1, will go for short side with pullback to R1 up to P,S1,S2,S3.

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Here I am using the indicator Pivot point standard
pivots type:: Traditional.
Keep use this on to your chart it's very clear.

All this is useful when ever price broken the ATH, so many traders are requesting how to mark the levels after ATH.
If we want we can also use Fibonacci levels for small targets and small SL points.
just change the settings to type to Fibonacci.

If this information is helpful give me a like by showing your support.
thank you very much guys for your support.

注释

After a strong sell off is observed bulls failed to take the price up...
if its a sign of bearishness...we can observe a fall tomorrow also...
will observe drop base drop...to test demands again.

注释

until price breaks the demand don't think of short...

交易结束：到达目标

Done from long side.....

IIT-Trader

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