1. Rectangle Box (Sideways Zone)
Nifty had earlier made a strong range-bound consolidation around 24,400 -25,000.
This has now become a strong support zone (red shaded area).
2. Breakout & Retest Pattern:
Nifty then broke out of this zone and went to around 25,600.
Now it is retesting the same old resistance (now support).
3. Price Action Zones:
Support Zone: 24,950 25,100
Resistance Zone: 25,600 - 25,800
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DISCLAIMER: I am NOT a SEBI registered advisor or a financial adviser. All the views are for educational purpose only
Nifty had earlier made a strong range-bound consolidation around 24,400 -25,000.
This has now become a strong support zone (red shaded area).
2. Breakout & Retest Pattern:
Nifty then broke out of this zone and went to around 25,600.
Now it is retesting the same old resistance (now support).
3. Price Action Zones:
Support Zone: 24,950 25,100
Resistance Zone: 25,600 - 25,800
If you find this helpful and want more FREE forecasts in TradingView, Hit the 'BOOST' button
Drop some feedback in the comments below! (e.g., What did you find most useful?
How can we improve?)
Your support is appreciated!
Now, it's your turn!
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Have a successful week
DISCLAIMER: I am NOT a SEBI registered advisor or a financial adviser. All the views are for educational purpose only
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