Probable Scenario Analysis for the 29th of May 2026. The day is Friday.
(1) Bullish Scenario:
A weak (or underconfident) bullish scenario would emerge only above the level 55250. An underconfident bullish target above the level 55250 is - 55500. Next, if the price decisively trades above the level 55500, then strong (or confident) bullish targets would be - 55750 and 56000.
(2) Bearish Scenario:
A weak (or underconfident) bearish scenario would emerge only below the level 54750. An underconfident bearish target below the level 54750 is 54500. Next, if the price decisively trades below the level 54500, then strong (or confident) bearish targets would be - 54250 and 54000.
(3) No Trading Zone (NTZ): (55250 - 54750).
(4) Range of Consolidation (ROC): (55500 - 54500).
Here, the level 55000 is the median of the ROC. If the price stays above the median (55000), then be bullish. But, if the price stays below the median (55000), then be bearish.
(5) Events:
No high-impact event. No expiry. However, Friday's opening will discount the geopolitical events that happened on Thursday (Indian markets are closed). Lastly, it will be the last day of the week.
(6) Establish intraday bias with respect to the opening price.
NOTE:
(i) All the analysis would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
(ii) Trade only if there is a setup. Remember, not trading is an extension of the trading activity. Always PRACTICE RISK MANAGEMENT. Always PROTECT your CAPITAL. Be RESPONSIBLE.
(iii) Be Strategic. Be Courageous. Be Patient. Be Wise.
(iv) Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Therefore, trade what you see, not what you believe.
(v) Every day is a new day. Thus, do not carry the baggage of past successes or failures. Always trade from a new perspective. The joy of trading should drive effectiveness, not fear or greed. Believe in Possibilities.
Happy Trading!
(1) Bullish Scenario:
A weak (or underconfident) bullish scenario would emerge only above the level 55250. An underconfident bullish target above the level 55250 is - 55500. Next, if the price decisively trades above the level 55500, then strong (or confident) bullish targets would be - 55750 and 56000.
(2) Bearish Scenario:
A weak (or underconfident) bearish scenario would emerge only below the level 54750. An underconfident bearish target below the level 54750 is 54500. Next, if the price decisively trades below the level 54500, then strong (or confident) bearish targets would be - 54250 and 54000.
(3) No Trading Zone (NTZ): (55250 - 54750).
(4) Range of Consolidation (ROC): (55500 - 54500).
Here, the level 55000 is the median of the ROC. If the price stays above the median (55000), then be bullish. But, if the price stays below the median (55000), then be bearish.
(5) Events:
No high-impact event. No expiry. However, Friday's opening will discount the geopolitical events that happened on Thursday (Indian markets are closed). Lastly, it will be the last day of the week.
(6) Establish intraday bias with respect to the opening price.
NOTE:
(i) All the analysis would fail in the case of a major gap up, gap down, or price structure anomaly. Thus, practice PRAGMATISM in the live session.
(ii) Trade only if there is a setup. Remember, not trading is an extension of the trading activity. Always PRACTICE RISK MANAGEMENT. Always PROTECT your CAPITAL. Be RESPONSIBLE.
(iii) Be Strategic. Be Courageous. Be Patient. Be Wise.
(iv) Mark your points. Trade your points. Price is GOD. Anything can happen in the markets. Therefore, trade what you see, not what you believe.
(v) Every day is a new day. Thus, do not carry the baggage of past successes or failures. Always trade from a new perspective. The joy of trading should drive effectiveness, not fear or greed. Believe in Possibilities.
Happy Trading!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.