Weekly Analysis Nifty.....

Last week Nifty had both side movement and provided good swing trades at both the sides and eventually closed positively at weekly level. It had broken all time high but could not sustain to close above it, eventually closed below all-time high and last week’s high. Last two days were range bound, indecision market. It seems players are consolidating the price for further move. We may see some consolidation and retrace till ~26200-100 range and then a possible breakout. Breakout may wait for any impactful global or domestic news/event.
Critical points ……………….

1. ~26200-100 range for consolidation/retrace.
2. Currently 1 Hour time frame is forming a W pattern. Which is again a positive signg.
3. We may see some good bullish LTF patter at the given range and then possible breakout if supported with even/new and volume.
4. If breakout support with volume and positive events, we may see 26500 and 26900 levels quickly.
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Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) and check with your financial advisor before making any trading decisions.