Nifty 50 futures<\/h2>\n\n\n\nThe Weekly<\/em> Nifty 50 chart<\/h3>\n\n\n\n![\"Nifty](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/Nifty-50-Broad-Bull-Channel-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n\n- General Discussion<\/strong>
- The market has finally formed a strong bear bar, which may tempt bears to short the market.<\/li><\/ul>
- Selling at the low of this bear bar would not be a high probability trade because the channel is strong.<\/li><\/ul>
- Bears should hold off on selling until they see a strong follow-through bar in order to get a high probability sell.<\/li><\/ul>
- Bulls should hold off on buying despite the fact that the market is currently trading inside of a strong, tight bull channel because it is currently below a strong resistance, which could result in a big trading range.<\/li><\/ul>\n
\n- Long-term bulls may close out their trades at or below the low of the strong bear bar.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into the price action<\/strong>
- The market is going through frequent large moves up and down while trading inside of a broad bull channel (indicated by the blue text).<\/li><\/ul>
- Chances are very high that the market is trading inside of a trading range or broad channel whenever you observe big up and down moves.<\/li><\/ul>
- The market is forming a broad bull channel if higher highs and lower lows are being formed, a broad bear channel if lower lows and lower highs are being formed, and a trading range if all of the swing highs and lows are forming at or near the same price level.<\/li><\/ul>
- When the market is typically trading within a trading range:
- Bulls buy near the trading range low and sell near the trading range high.<\/li><\/ul>
- Bears sell near the trading range top and buy near the trading range low.<\/li><\/ul><\/li><\/ul>
- A similar price action, in which bulls buy low and sell high and bears sell high and buy low, is seen in the context of the broad bull channel.<\/li><\/ul>
- But chances of a move up or down are nearly equal when the market is trading close to the middle of the broad channel.<\/li><\/ul>
- Looking at the above chart, you can see that the market is currently trading close to the middle of the broad bull channel, indicating that there is a good chance that it will move either up or down.<\/li><\/ul>\n
\n- As a result, some trading range price action is expected on the shorter time frame.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- The market is trading in both a tight nested bull channel and a broad bull channel.<\/li><\/ul>\n
\n- If the bears are able to provide a strong follow-through bar, the likelihood of a bear breakout of the tight bull channel will rise.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
The Daily<\/em> Nifty 50 chart<\/h3>\n\n\n\n![\"Nifty](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/06\/Nifty-50-Micro-Double-Top-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- General Discussion<\/strong>
- The market is in a strong bull trend on the daily chart.<\/li><\/ul>
- The market demonstrated a bear breakout of the wedge top and provided strong follow-through bars.<\/li><\/ul>
- Therefore, the bears can short the market at the low of bar 1 and anticipate at least a micro double top measured move.<\/li><\/ul>\n
\n- Bulls with long positions should close their positions at the low of bar 1.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into price action<\/strong>
- Because of how big and strong the bull trend is, there is very little chance that it will reverse by the micro double top.<\/li><\/ul>
- Bears need at least a double top to bring about a major trend reversal, so traders should anticipate at least another bull leg up before the market exhibits a major trend reversal.<\/li><\/ul>\n
\n- If the market displays strong, consecutive bull bars after reaching the micro double top measured move target, bulls may look to buy once more.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- The market cycle theory states that there is a strong likelihood of a trading range following a market breakout from a channel.<\/li><\/ul>
- Bearish breakout of the wedge top may result in a trading range because a wedge is also a type of channel.<\/li><\/ul>\n
\n- So, rather than anticipating a significant trend reversal, bears who are selling at the low of bar 1 should look to exit their trades once the market reaches the measured move or close to the bottom of the wedge top.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n\n
- \n
- General Discussion<\/strong>
- The market has finally formed a strong bear bar, which may tempt bears to short the market.<\/li><\/ul>
- Selling at the low of this bear bar would not be a high probability trade because the channel is strong.<\/li><\/ul>
- Bears should hold off on selling until they see a strong follow-through bar in order to get a high probability sell.<\/li><\/ul>
- Bulls should hold off on buying despite the fact that the market is currently trading inside of a strong, tight bull channel because it is currently below a strong resistance, which could result in a big trading range.<\/li><\/ul>\n
- \n
- Long-term bulls may close out their trades at or below the low of the strong bear bar.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into the price action<\/strong>
- The market is going through frequent large moves up and down while trading inside of a broad bull channel (indicated by the blue text).<\/li><\/ul>
- Chances are very high that the market is trading inside of a trading range or broad channel whenever you observe big up and down moves.<\/li><\/ul>
- The market is forming a broad bull channel if higher highs and lower lows are being formed, a broad bear channel if lower lows and lower highs are being formed, and a trading range if all of the swing highs and lows are forming at or near the same price level.<\/li><\/ul>
- When the market is typically trading within a trading range:
- Bulls buy near the trading range low and sell near the trading range high.<\/li><\/ul>
- Bears sell near the trading range top and buy near the trading range low.<\/li><\/ul><\/li><\/ul>
- A similar price action, in which bulls buy low and sell high and bears sell high and buy low, is seen in the context of the broad bull channel.<\/li><\/ul>
- But chances of a move up or down are nearly equal when the market is trading close to the middle of the broad channel.<\/li><\/ul>
- Looking at the above chart, you can see that the market is currently trading close to the middle of the broad bull channel, indicating that there is a good chance that it will move either up or down.<\/li><\/ul>\n
- \n
- As a result, some trading range price action is expected on the shorter time frame.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- The market is trading in both a tight nested bull channel and a broad bull channel.<\/li><\/ul>\n
- \n
- If the bears are able to provide a strong follow-through bar, the likelihood of a bear breakout of the tight bull channel will rise.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
The Daily<\/em> Nifty 50 chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- \n
- General Discussion<\/strong>
- The market is in a strong bull trend on the daily chart.<\/li><\/ul>
- The market demonstrated a bear breakout of the wedge top and provided strong follow-through bars.<\/li><\/ul>
- Therefore, the bears can short the market at the low of bar 1 and anticipate at least a micro double top measured move.<\/li><\/ul>\n
- \n
- Bulls with long positions should close their positions at the low of bar 1.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into price action<\/strong>
- Because of how big and strong the bull trend is, there is very little chance that it will reverse by the micro double top.<\/li><\/ul>
- Bears need at least a double top to bring about a major trend reversal, so traders should anticipate at least another bull leg up before the market exhibits a major trend reversal.<\/li><\/ul>\n
- \n
- If the market displays strong, consecutive bull bars after reaching the micro double top measured move target, bulls may look to buy once more.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- The market cycle theory states that there is a strong likelihood of a trading range following a market breakout from a channel.<\/li><\/ul>
- Bearish breakout of the wedge top may result in a trading range because a wedge is also a type of channel.<\/li><\/ul>\n
- \n
- So, rather than anticipating a significant trend reversal, bears who are selling at the low of bar 1 should look to exit their trades once the market reaches the measured move or close to the bottom of the wedge top.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
- So, rather than anticipating a significant trend reversal, bears who are selling at the low of bar 1 should look to exit their trades once the market reaches the measured move or close to the bottom of the wedge top.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
- Bearish breakout of the wedge top may result in a trading range because a wedge is also a type of channel.<\/li><\/ul>\n
- The market cycle theory states that there is a strong likelihood of a trading range following a market breakout from a channel.<\/li><\/ul>
- Bears need at least a double top to bring about a major trend reversal, so traders should anticipate at least another bull leg up before the market exhibits a major trend reversal.<\/li><\/ul>\n
- Because of how big and strong the bull trend is, there is very little chance that it will reverse by the micro double top.<\/li><\/ul>
- Therefore, the bears can short the market at the low of bar 1 and anticipate at least a micro double top measured move.<\/li><\/ul>\n
- The market demonstrated a bear breakout of the wedge top and provided strong follow-through bars.<\/li><\/ul>
- The market is in a strong bull trend on the daily chart.<\/li><\/ul>
- General Discussion<\/strong>
- If the bears are able to provide a strong follow-through bar, the likelihood of a bear breakout of the tight bull channel will rise.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
- The market is trading in both a tight nested bull channel and a broad bull channel.<\/li><\/ul>\n
- Looking at the above chart, you can see that the market is currently trading close to the middle of the broad bull channel, indicating that there is a good chance that it will move either up or down.<\/li><\/ul>\n
- But chances of a move up or down are nearly equal when the market is trading close to the middle of the broad channel.<\/li><\/ul>
- A similar price action, in which bulls buy low and sell high and bears sell high and buy low, is seen in the context of the broad bull channel.<\/li><\/ul>
- Bears sell near the trading range top and buy near the trading range low.<\/li><\/ul><\/li><\/ul>
- Bulls buy near the trading range low and sell near the trading range high.<\/li><\/ul>
- When the market is typically trading within a trading range:
- The market is forming a broad bull channel if higher highs and lower lows are being formed, a broad bear channel if lower lows and lower highs are being formed, and a trading range if all of the swing highs and lows are forming at or near the same price level.<\/li><\/ul>
- Chances are very high that the market is trading inside of a trading range or broad channel whenever you observe big up and down moves.<\/li><\/ul>
- The market is going through frequent large moves up and down while trading inside of a broad bull channel (indicated by the blue text).<\/li><\/ul>
- Bulls should hold off on buying despite the fact that the market is currently trading inside of a strong, tight bull channel because it is currently below a strong resistance, which could result in a big trading range.<\/li><\/ul>\n
- Bears should hold off on selling until they see a strong follow-through bar in order to get a high probability sell.<\/li><\/ul>
- Selling at the low of this bear bar would not be a high probability trade because the channel is strong.<\/li><\/ul>
- The market has finally formed a strong bear bar, which may tempt bears to short the market.<\/li><\/ul>