November 25, 2016

NIFTY Inside Monday

  • We have seen those inside day patterns work well when a candle develops within the real body of the previous larger candle. Breakout happens when price breaks the high or low of the larger candle. But here price has been trading inside Monday's range for the past 4 day's. So this 186 point range becomes crucial. 8100 and 7900 being round numbers becomes even more important.
  • Hour chart shows immediate resistance at 8050. Bulls must sustain above 50 Hour SMA and 8050 for a bigger up move to follow.
  • Bears to extend the trend need to break below 7900.
  • GOLD Chart Update

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