Nifty Analysis for tomorrow(11/01/2022)

 

 NIFTY50

OBSERVATION

• As we discussed yesterday, nifty formed ascending channel pattern in a 1-hour time frame.
• If it breakout on any side, it may give a very potential trade.
• If we see today's market analysis, nifty gave a breakout of 18000 level.
• If it sustains on that level then we can see a good move for upside.
• If it could not sustain then we can see a fall in nifty.
• So wait for a breakout.

TRADE SETUP FOR TOMORROW 

• Don't trade at the beginning of the market, let it make price action.
• Avoid big gap-up and gap-down.
• All the levels will work as resistance and support in the chart, hope you will understand.
• trade with strict SL.

NIFTY50 OBSERVATION

• As we can see that in 15 min time frame.
• the market is given a breakout of 18000 level.
• If it sustains on that level then we can see a good move for upside.
• If it could not sustain then we can see a fall in nifty.
• 15 min time frame is for only intraday trade.
• If the market holds the 18000 level, then it may go to our first target that is 18060.
• If could not sustain the 18000 level, then we can see a downward trend in nifty for intraday.
• All the levels act as resistance and support.
• If the market opens a big gap-up, then wait for price action.
• Don't jump into the trade at the beginning of the market.
• And if the market is open flat/sideways, then wait for the first 15 min candle, then trade according to the price action.
• Make strict SL.