FTU CHART
ES - 12- 16 Aug.jpg
We’ve experienced five consecutive days of one-time framing up, setting the stage for a potentially volatile week ahead with significant economic data releases: PPI on Tuesday, CPI on Wednesday, and Retail Sales on Thursday. Notably, we have a single print zone spanning from 5417 to 5444.75.
However, a critical barrier lies at the weekly high of 5385. Sustaining above this level and continuing to address the single prints (5417 - 5444.75). Expect some liquidity here. However, holding above this level could lead to a situation where a large chink of inventory will then be below, trapping shorts and providing a favorable environment for wholesalers to mark up and sell at higher prices, potentially leading to resistance areas at 5472, 5500, 5518.25, and 5549.5.
Conversely, if we fail to hold above 5385, sustaining below 5365, the market could test support level at 5342.5, also the weekly VPOC. A breach of this support might signal weakness, potentially pushing the market towards 5324.75, 5305.75, and 5292.5. Break below this can see sharp move towards 5230 - 5198 zone—an area of considerable support.
It’s shaping up to be a week where economic data and market structure will play pivotal roles in determining the direction.
However, a critical barrier lies at the weekly high of 5385. Sustaining above this level and continuing to address the single prints (5417 - 5444.75). Expect some liquidity here. However, holding above this level could lead to a situation where a large chink of inventory will then be below, trapping shorts and providing a favorable environment for wholesalers to mark up and sell at higher prices, potentially leading to resistance areas at 5472, 5500, 5518.25, and 5549.5.
Conversely, if we fail to hold above 5385, sustaining below 5365, the market could test support level at 5342.5, also the weekly VPOC. A breach of this support might signal weakness, potentially pushing the market towards 5324.75, 5305.75, and 5292.5. Break below this can see sharp move towards 5230 - 5198 zone—an area of considerable support.
It’s shaping up to be a week where economic data and market structure will play pivotal roles in determining the direction.
FTU CHART
#Nifty Resistance and Support here
Let's see #Nifty on resistance
Showing Rejection
Fall aana chahye ,
Nhi toh thoda time pass krke upr Jaa ke fall ayega
Showing Rejection
Fall aana chahye ,
Nhi toh thoda time pass krke upr Jaa ke fall ayega