NIFTY Technical Analysis 14-18 March 2022

Technical Updates

The market showed an enormous bullish momentum on weekly chart.
In 1D Chart the price is below 50 EMA, but in 1W Chart the market closed above 50 EMA.
The Trend Lines shows major resistive blows for the past swings highs.
The price action gets constantly rejected and it can't move up.
There are three consecutive drops in the trend line, which makes the trend line more effective.
The fourth drop from the trend line resistance is to be expected to happen this week.
But the data according to 1W Chart it shows a strong Bullish Momentum, so there are likely some chances to break the Channel.
The upcoming week will be a battle between Bullish Momentum and Trend Line Resistance.
The market could go North if the Trend Line Resistance gets broken by Bullish Momentum.
The market could go South if the Bullish Momentum gets weakened by Trend Line Resistance.
Mark these levels on your chart (17054, 16833, 16747, 16673, 16414, 16178, 15657)
Those levels are identified using LL & HL, Donchian Channels and Fibonacci Retracement Levels.
You have two options, either you can trade by levels or wait for the market to choose its trend by breaking or resisting the trend line.
Lots of Market Drama and Behind the Scenes are to happen this upcoming week, stay alert!