Nifty 50 Analysis for 20th June 2022
Let's understand market on the basis of price action, first thing to observe is market is trend. On the daily time frame we see the swings highs and lows we observe that market is forming Lower Highs and Lower Lows structure this indicates market is in bearish trend So we have got to know about the trend of the market next thing to observe is previous day candle (i.e 17th June 2022) we can see market as formed doji this indicates that there was fight between bulls and bears and no one has won in the battle and formed indecision candle. Let's observe market in one hour time frame here we see market is consildating the range of 15400 to 15180 if market opens side ways and break on the either side we can take position in that direction. There two was to approach in this situation either you can go with breakout trade or else you can go with the pull back trade. It depends on the individual risk managment and conviction about the trade. If market opens in the range then only we ...