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\/10\/Nifty-50-Spike-Channel-Up-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n\n- General Discussion<\/strong>
- The market has been fluctuating around the same levels for several weeks, indicating that it is operating within a tight trading range.<\/li><\/ul>
- Therefore, until the market forms strong consecutive bars on either side, traders should avoid swing positions and instead favour scalps.<\/li><\/ul>\n
\n- Buying at the highs of bars in a tight trading range gives you a bad risk to reward ratio, so consider different entry strategies to enter a position.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into the price action<\/strong>
- The market demonstrated a strong bull breakout of the big round number 20000 (see bar 1), but bulls were unable to produce strong follow-through bars.<\/li><\/ul>
- In a similar way, the bears were successful in forming a double top thanks to a solid bear bar (see bar 2), but they, too, were unable to secure a strong follow-through bar.<\/li><\/ul>\n
\n- This demonstrates that both bulls and bears are confused, which results in trading range.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- Bears attempted to reverse the trend by forming a double top pattern, but they were unable to secure strong follow-through bars.<\/li><\/ul>\n
\n- Following the bull spike, the market is currently trading inside of the (blue-colored) tight bull channel.<\/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\/10\/Nifty-50-Trading-Range-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- General Discussion<\/strong>
- The market is trading within a trading range and is currently near the bottom of the range.<\/li><\/ul>
- The bulls can buy on the next open and target for the trading range top or the high of the broad bull channel.<\/li><\/ul>\n
\n- Bears should hold off on selling because the market is currently trading close to the bottom of the bull channel and trading range.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into price action<\/strong>
- Pay attention to the bull and bear legs marked on the chart. Strong legs on both sides.<\/li><\/ul>
- However, there is a very high likelihood of a trading range forming whenever strong bull and bear legs follow one another.<\/li><\/ul>
- The \u00abV-pattern\u00bb is a common name for this pattern. It is forming an inverted \u00abV-pattern\u00bb in the example above.<\/li><\/ul>
- The reversal attempt is very weak in comparison to the bear leg, as shown by the three most recent bars (on the right).<\/li><\/ul>\n
\n- This indicates that there is a high likelihood of a second leg down prior to a bull turn. Bulls may want to hold off on making a purchase for the trading range top until after a second leg down.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- Trading is taking place inside of a broad bull channel. Before reversing, it might offer a second leg down.<\/li><\/ul>\n
\n- Bulls have the option of buying at the open or waiting for a double bottom. Keep in mind that a double bottom essentially denotes a reversal following a second leg down.<\/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 been fluctuating around the same levels for several weeks, indicating that it is operating within a tight trading range.<\/li><\/ul>
- Therefore, until the market forms strong consecutive bars on either side, traders should avoid swing positions and instead favour scalps.<\/li><\/ul>\n
- \n
- Buying at the highs of bars in a tight trading range gives you a bad risk to reward ratio, so consider different entry strategies to enter a position.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into the price action<\/strong>
- The market demonstrated a strong bull breakout of the big round number 20000 (see bar 1), but bulls were unable to produce strong follow-through bars.<\/li><\/ul>
- In a similar way, the bears were successful in forming a double top thanks to a solid bear bar (see bar 2), but they, too, were unable to secure a strong follow-through bar.<\/li><\/ul>\n
- \n
- This demonstrates that both bulls and bears are confused, which results in trading range.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- Bears attempted to reverse the trend by forming a double top pattern, but they were unable to secure strong follow-through bars.<\/li><\/ul>\n
- \n
- Following the bull spike, the market is currently trading inside of the (blue-colored) tight bull channel.<\/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 trading within a trading range and is currently near the bottom of the range.<\/li><\/ul>
- The bulls can buy on the next open and target for the trading range top or the high of the broad bull channel.<\/li><\/ul>\n
- \n
- Bears should hold off on selling because the market is currently trading close to the bottom of the bull channel and trading range.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into price action<\/strong>
- Pay attention to the bull and bear legs marked on the chart. Strong legs on both sides.<\/li><\/ul>
- However, there is a very high likelihood of a trading range forming whenever strong bull and bear legs follow one another.<\/li><\/ul>
- The \u00abV-pattern\u00bb is a common name for this pattern. It is forming an inverted \u00abV-pattern\u00bb in the example above.<\/li><\/ul>
- The reversal attempt is very weak in comparison to the bear leg, as shown by the three most recent bars (on the right).<\/li><\/ul>\n
- \n
- This indicates that there is a high likelihood of a second leg down prior to a bull turn. Bulls may want to hold off on making a purchase for the trading range top until after a second leg down.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- Trading is taking place inside of a broad bull channel. Before reversing, it might offer a second leg down.<\/li><\/ul>\n
- \n
- Bulls have the option of buying at the open or waiting for a double bottom. Keep in mind that a double bottom essentially denotes a reversal following a second leg down.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
- Bulls have the option of buying at the open or waiting for a double bottom. Keep in mind that a double bottom essentially denotes a reversal following a second leg down.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
- Trading is taking place inside of a broad bull channel. Before reversing, it might offer a second leg down.<\/li><\/ul>\n
- The reversal attempt is very weak in comparison to the bear leg, as shown by the three most recent bars (on the right).<\/li><\/ul>\n
- The \u00abV-pattern\u00bb is a common name for this pattern. It is forming an inverted \u00abV-pattern\u00bb in the example above.<\/li><\/ul>
- However, there is a very high likelihood of a trading range forming whenever strong bull and bear legs follow one another.<\/li><\/ul>
- Pay attention to the bull and bear legs marked on the chart. Strong legs on both sides.<\/li><\/ul>
- The bulls can buy on the next open and target for the trading range top or the high of the broad bull channel.<\/li><\/ul>\n
- The market is trading within a trading range and is currently near the bottom of the range.<\/li><\/ul>
- General Discussion<\/strong>
- Following the bull spike, the market is currently trading inside of the (blue-colored) tight bull channel.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
- Bears attempted to reverse the trend by forming a double top pattern, but they were unable to secure strong follow-through bars.<\/li><\/ul>\n
- In a similar way, the bears were successful in forming a double top thanks to a solid bear bar (see bar 2), but they, too, were unable to secure a strong follow-through bar.<\/li><\/ul>\n
- The market demonstrated a strong bull breakout of the big round number 20000 (see bar 1), but bulls were unable to produce strong follow-through bars.<\/li><\/ul>
- Therefore, until the market forms strong consecutive bars on either side, traders should avoid swing positions and instead favour scalps.<\/li><\/ul>\n
- The market has been fluctuating around the same levels for several weeks, indicating that it is operating within a tight trading range.<\/li><\/ul>