NIFTY 5 minutes chart support and resistance on chart

NIFTY 5 MINUTES CHART

• IF nifty tries to fill the gap 4907 and 4926 will be the immediate resistance.
• Breaking day's low 4853 means we will see bigger correction in the coming day's.

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The Triangle effect

NIFTY 5 MINUTES

• NIFTY 5 minutes which broke a triangle yesterday has opened with a gap down
• Now the gap should be filled at least partially and close above 4875 for the bulls to be alive.

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NIFTY line chart channel should hold

NIFTY DAILY CHART

• NIFTY daily line chart shows that the price is near the bottom of the channel on a closing basis.
• So today after the noise of the gap down opening if nifty manages to come back and close above 4875 it is ok.
• otherwise we will break the channel on a closing basis.
• And a large correction can be expected.
• One pattern that can save bulls is the Descending broadening wedge that i have posted in this blog.

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NIFTY Descending broadening wedge in daily chart

NIFTY DAILY CHART

• NIFTY descending broadening wedge tomorrow's support area is around 4850-4865
• The target for the triangle in 5 minutes which broke its support is also coming around 4850.
• So tomorrow if nifty holds 4850 we may see a rally from this area.
• Any thing below 4850 is very bearish for the short term.

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TRIANGLE in nifty 5 minutes has broken

• NIFTY triangle has broken on the down side.
• This one is targeting 4850 region.
• was not able to post comments today for 2 reasons. Was sleeping after the night shift and was not able to see any comments when i got up. Sorry everyone.
• Our target on the break of 4951 was achieved at 4980 only briefly But i think some of u must have made some profits.

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NIFTY 5 minutes chart near support and resistance

UPDATED RESULT CHART FOR TODAYS TRADE

NIFTY UPDATED CHART

• ABOVE 4951 ONE CAN GO LONG
• BELOW 4931 ONE CAN GO SHORT

NIFTY five minutes chart day high and low

UPDATED CHART

NIFTY 5 MINUTES CHART

• Take a trade when the levels marked on chart are violated.