We have touched the lower line of down trend channel, hence we can expect a pull back from marked area.
If we don't halt then 8300 zone is on the cards and expect the up move from the demand zone of 8300.
Moving up wont be that easy, as we can sea that falling trend line and supply zone are above the price. Technically longs can be taken(Swing trade) after we are out of the down trend channel.
This is not trading recommendation, please risk your hard earned money according to your own analysis, plan, knowledge and wisdom.
This is the reason why we kept our entry to longs above channel, zones are marked on chart. Market touched the zone of 8000 and went up. Traders can use the zones to enter or exit intraday.
dhananjay.d.joshi
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I hope this analysis helped the viewers/traders.
AMBRISH
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Thanks for update on Nifty , I liked your style of posting separate chart , It helps to save the chart.
Can you post Bank Nifty charts?