[12:10 PM, 2/4/2020] Jiten Patel: Nifty has formed a Channel and as well as a RISING WEDGE on long term basis.....
Trading range for NIFty on long term basis is between @12400 and@11000....
Any break up above the resistance line of 12430 can take NIFTY to Higher levels and any break down below the support levels @11000 can take NIFTY to still Lower Prices levels.....
But long term Range of NIFty is now the above mentioned price levels and a Trading Range is formed.......
[12:46 PM, 2/4/2020] Jiten Patel: Breach of resistance Trend channel line on upside will take NIFTY to @14000.....
Breach of Support Trend channel line on downside will take NIFTY to @9600.....
It is a long way to go as of now and there can be change in NIFty TGT lvls depending how much time NIFty is within the channel trading range.....
But as of now the trading range between @12400 and @11000 should be respected for few weeks or months......
IT is my personal opinion and view only and not a recommendation to buy or sell and I reserved to be proved otherwise also......
Trading range for NIFty on long term basis is between @12400 and@11000....
Any break up above the resistance line of 12430 can take NIFTY to Higher levels and any break down below the support levels @11000 can take NIFTY to still Lower Prices levels.....
But long term Range of NIFty is now the above mentioned price levels and a Trading Range is formed.......
[12:46 PM, 2/4/2020] Jiten Patel: Breach of resistance Trend channel line on upside will take NIFTY to @14000.....
Breach of Support Trend channel line on downside will take NIFTY to @9600.....
It is a long way to go as of now and there can be change in NIFty TGT lvls depending how much time NIFty is within the channel trading range.....
But as of now the trading range between @12400 and @11000 should be respected for few weeks or months......
IT is my personal opinion and view only and not a recommendation to buy or sell and I reserved to be proved otherwise also......
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