Thread by @niki_poojary

#NIFTY

Outlook for the week March 28-31, 2022

THREAD: Deconstructing NIFTY on 5 different TF's

#NIFTY

1. Monthly TF:

•Four more trading sessions to go for this month, however so far on monthly a strong pinbar at crucial support

• 'M' pattern is under formation, but wont jump the gun unless the formation and BD is done

#NIFTY

2. Weekly TF:

• Structure of LH-LL indicates a weak structure

• Imp to note the prices reversed from 17350-400 which was the high made on Feb 24, 2022

• The move could be either side for which we need to wait & watch

#NIFTY

3. Daily TF:

• NF has been consolidating between 17000-17400

• Remember, consolidation phase is followed by expansionary phase

• Also given its an monthly expiry momentum is expected

#NIFTY

4. Hourly TF:

• S/R mentioned on the chart.

#NIFTY

5. 15 min TF:

• Although I could clearly see a BD of symmetrical pattern, which is bearish

• At the same time, cant ignore the fact that a sharp recovery in the last 30 mins was witnessed and NF reversed from 17075

Conclusion:

1. 17075-17k very imp level to hold for this expiry below which NF might again start its downtrend

2. For any meaningful upside 17400 needs to be taken out decisively

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