#NIFTY
Our markets are opening with a gap down due to imported weakness, however it recovers strongly during the session.
Lets see what’s in store for the upcoming week.
Outlook for the week Sep 5 - Sep 9, 2022.
THREAD: Deconstructing NIFTY on 5 different TF’s.
#NIFTY
- Monthly TF:
• NF rallied by 15% in the month of July & Aug
• Bullish on higher TF.
• However NF is facing a resistance (black TL). <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/niki_poojary/status/1566381710333202434/photo/1’</p></div>
#NIFTY
- Weekly TF:
• Post the formation of shooting star the high of the same is not taken out yet (in fact lower high formation)
• On a higher TF, expecting NF to make a fresh ATH.
• However, NF is still consolidating within 17150-18000 range. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/niki_poojary/status/1566381717782376448/photo/1’</p></div>
#NIFTY
- Daily TF:
• In the past 3 trading sessions, inside bar is under formation, better to wait for a break of the high or low of the child bar.
•Closing below 17150 on daily might open the levels for 16800-17150. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/niki_poojary/status/1566381724572848128/photo/1’</p></div>
#NIFTY
- Hourly TF:
• S/R mentioned on the chart. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/niki_poojary/status/1566381732139454466/photo/1’</p></div>
#NIFTY
- 15min TF:
• Keep an eye on the downward sloping trendline (yellow) & upward sloping trendline (purple) and break of either with a solid confirmation will help us to go towards that direction. <div class='jekyll-twitter-plugin'><p>There was a ‘Not Found’ error fetching URL: ‘https://twitter.com/niki_poojary/status/1566381739185844230/photo/1’</p></div>
Conclusion:
•BNF is more stronger than NF
•17150 has acted as a supported twice in the recent past.
• Closing above 18000 on daily might open the levels for 18300.
I regularly share weekly outlook on indices (NIFTY & BANKNIFTY) and many more threads on trading & finance
If you enjoyed this, then do check out the outlook for #BANKNIFTY by clicking here
#BANKNIFTY
— Nikita Poojary (@niki_poojary) September 4, 2022
Our markets are opening with a gap down due to imported weakness, however it recovers strongly during the session.
Lets see what's in store for the upcoming week.
Outlook for the week Sep 5 - Sep 9, 2022.
THREAD: Deconstructing BANKNIFTY on 5 different TF's.
@niki_poojary @threadreaderapp unroll