Thread by @niki_poojary

#NIFTY

Expecting a sideways consolidation, before deciding for the next trend.

Outlook for the week Oct 10 - Oct 14, 2022.

THREAD: Deconstructing NIFTY on 4 different TF's.

#NIFTY

1. Monthly TF:

• Looks bullish as its hovering near the TL which has been tested 5 times.

• Expecting NF to make a fresh ATH in the upcoming months.

• 16750 looks like a strong support.

#NIFTY

2. Weekly TF:

• Despite M formation in weekly there was no BD of the same in weekly

• However, for the current week we might see sideways action which coincides with my figment of imagination of flag formation.

#NIFTY

3. Daily TF:

• 16750 was a resistance erstwhile, however the same has now turned into support.

• Daily looks sideways, as there is support near 16750 and resistance at 17430.

• Closing > 17430 on daily is required for a fresh ATH in NF.

#NIFTY

4. 15min TF:

• S/R mentioned on the chart.

• Also watch out for the Black TL.

Conclusion:

• Looks bullish in monthly and weekly TF

• Expecting sideways consolidation for the current week with a range of 16750-17430.

• Strong support: 16750

• Closing > 17430 in daily would ensure fireworks for the upcoming weeks.

I regularly share weekly outlook on indices (NIFTY & BANKNIFTY) and many more threads on trading & finance.

If you enjoyed this, then do check out the outlook for #BANKNIFTY by clicking here:

https://twitter.com/niki_poojary/status/1579140555778334721?s=20&t=Xqy5gG0iguXLC0lYRw9WeA