Mighty Nifty - Budget Day

31 thg 1, 2024

Price will be very volatile on budget day. Know whether you can handle it before placing orders.
First we will see the important support and resistance levels.
Support is seen at 21500 - 21540. Resistance is seen at 21860 - 21900. Expected day's range is 21400 to 22040.
Pattern : Channel. Price is above the upper trend line of the channel. To be bullish, it should sustain above it.
Range : Medium.
Trend strength : Volatile.
Buy Above : 21740.
Stop Loss : 21680.
Targets : 21800, 21860, 21920 and 21980.
These levels are derived based on the assumption that price will take support from upper trend line of the channel and move up.
Sell below : 21600.
Stop Loss : 21660.
Targets : 21540, 21480 and 21420.

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Note : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
You are responsible for whatever you do.

1 thg 2, 2024

Ghi chú

Taking support.

1 thg 2, 2024

Ghi chú

Price says, "I will continue tomorrow".