NG moved in a narrow range this week. From the weekly TF, it is quite clear that price is within the range inside the blue rectangle. Any breakout will move price to the upper or lower gap target.
From the daily TF, a green hammer is found on the mid of BB. It is not a perfect hammer as there the upper shadow is slightly longer than it should be.
From the monthly TF, I am watching if price will be moved to the mid of BB which is also at around the highlighted area. This could happen in the next couple of months.
Sideways movement for now until a clear direction is known.
Daily support/resistance on 30th Jan: 3.371, 3.337
Weekly support/resistance from 30th Jan - 3rd Feb:3.365, 3.32
Monthly support/resistance for Jan: 3.687, 3.572 (NGG7: 3.695, 3.596)
2017 Yearly support/resistance: 3.415, 2.757
From the daily TF, a green hammer is found on the mid of BB. It is not a perfect hammer as there the upper shadow is slightly longer than it should be.
From the monthly TF, I am watching if price will be moved to the mid of BB which is also at around the highlighted area. This could happen in the next couple of months.
Sideways movement for now until a clear direction is known.
Daily support/resistance on 30th Jan: 3.371, 3.337
Weekly support/resistance from 30th Jan - 3rd Feb:3.365, 3.32
Monthly support/resistance for Jan: 3.687, 3.572 (NGG7: 3.695, 3.596)
2017 Yearly support/resistance: 3.415, 2.757
ReplyDeleteThe IPO listed a hefty premium to the issue price of Rs 245. But four days after the Coal India listing, the Sensex and Nifty hit a peak that would be surpassed only three years later. capitalstars