Nifty short term view

Nifty 5 minutes chart

Means, I selected candlestick of time period 5, where 1 candle indicates 5 minutes High low open and close  value (Price) of Nifty. Will write one article on few basic terminology soon. This blog is prepared in between the market time when market was completely stabilized and it was difficult to predict anyside view. So after zooming in Nifty Chart (that is keeping candle size of smaller size ) it can be observed that price is between the trend line drawn. Anyside breakout will decide the journey of Nifty.



Updated after market closing

Finally Nifty broke out downside with huge gap in short time. But it should not be considered as downtrend continuation. As you can observe, this gap down happened during last few minutes trade, when the market is highly volatile. If this would have been between the market time, then we would have gone Short selling for short time gain of maybe 30 points from breakout line.So, to know further movement of Nifty, lets zoom out Nifty to find out 3-5 days trend in next post