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Is Nifty About To Resume Bearish The Movement?

Posted: 01 May 2022 04:30 PM PDT

Nifty has started its indecisive movement again. Triangle is the best example of a choppy correction, and the break of the structure can give us an excellent opportunity for trading decisions.

Price Action Perspective:
Currently, the price is at the control line of the parallel channel.
Traders are getting trapped in the choppy move of the market. It is hard to take swing decisions due to indecisive movement. If you are waiting for a good swing trade, you can consider the range of 17400 – 17000.

If the price sustains below 17000, traders can expect good selling up to 16900 – 16821 – 16769 below. But safe buying is only possible above 17400, and it can go up to 17600 – 17768 – 17843+.

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