How do you read the charts when you see multiple formations of Higher low formation on any given trend? How do you read charts where the trend is evolving slow and steady and not willing to give
What could you think at the same time price is at the upper extreme not willing to give up a certain level on a higher timeframe. In that case what one is experiencing is a completely tight range bound difficult markets where buyers and sellers are extending their fight without giving up on each other.
Nifty Futures Hourly Charts
Lots of crowded buying happens at every 100 point interval. What kind of participants comes and accumulate at every 100 point interval? And Why the sellers are not willing to give up as well? These are questions which
Now the real question is how long this ping-pong fight among buyers and sellers are likely to extend? Does this tighter compression waiting for a major event like Union Budget and fresh trend to evolve post the events out of this consolidation?
Thinking from the seller side there is more desperation from sellers to break the previous lows every time. However, a lot of frustration remains among the sellers thus far since Oct 2018 low.
This market is being an amazing puzzle all the time. Instead of trying to think whether the Nifty could move to 9000 levels or 12500 levels narrow
Interestingly markets often
Nifty 5min Charts
Quick Flip strategy on the 5min charts are at the resistance zone around 10884. Any upmove above could possibly bring a potential test towards 10920 and 10960 levels.
Wedensdays sell off went extreme however late recovery on Thursdays activity shows bit of reluctance from buyers to give up on current trend.
Any for any sustained positional weakness price has to start accepting below 10840 levels. Until then there is no point in thinking about positional weakness.