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\/12\/Nifty-50-Big-Round-Number-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n\n- General Discussion<\/strong>
- Since the big round number and channel high serve as significant resistances, bulls with long swing positions might want to liquidate their positions.<\/li><\/ul>
- It is also a reasonable strategy for some bulls to hold off on exiting the market until after a strong bear bar.<\/li><\/ul>\n
\n- Unless the market forms a strong bear bar or a series of bear bars, bears shouldn’t be selling.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into the price action<\/strong>
- The market is trading in a tight bull channel and has broken out above the expanding triangle pattern.<\/li><\/ul>
- The upward movement is now almost 90 degrees, indicating that this leg would soon come to an end and either turn into a bear leg or a small trading range.<\/li><\/ul>
- The market has formed six consecutive bull bars with bull gaps, increasing the likelihood of a second leg up before a reversal.<\/li><\/ul>\n
\n- Scalpers can take advantage of this by entering at the beginning of the pullback, on a high-1.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- The market has been moving in a bull channel for quite some time, and it is currently trading close to the channel’s peak.<\/li><\/ul>\n
\n- In a broad bull channel, buying near the channel’s low and selling near its high can benefit both bulls and bears.<\/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\/12\/Nifty-50-Spike-Channel-Up-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- General Discussion<\/strong>
- Bears should wait to sell the market as a bull spike is developing in the market.<\/li><\/ul>
- If the bears are able to create strong, consecutive bear bars, bulls may decide to leave the market.<\/li><\/ul>\n
\n- Bulls may enter the bull trend on a high-1 or high-2 entry bar, as a channel is likely to form following a bull spike.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into price action<\/strong>
- The market has created numerous bull gaps, which are drawing the price in like a magnet. Bulls have a greater chance of at least two legs down before a resumption up if they are unable to follow through.<\/li><\/ul>
- The market has attained a significant mark of 21000. The market typically exhibits trading range price action when it is trading close to a major level.<\/li><\/ul>\n
\n- For the next week, traders should therefore anticipate trading range price action.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>\n
<\/a><\/figure>\n\n\n\n\n
- \n
- General Discussion<\/strong>
- Since the big round number and channel high serve as significant resistances, bulls with long swing positions might want to liquidate their positions.<\/li><\/ul>
- It is also a reasonable strategy for some bulls to hold off on exiting the market until after a strong bear bar.<\/li><\/ul>\n
- \n
- Unless the market forms a strong bear bar or a series of bear bars, bears shouldn’t be selling.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into the price action<\/strong>
- The market is trading in a tight bull channel and has broken out above the expanding triangle pattern.<\/li><\/ul>
- The upward movement is now almost 90 degrees, indicating that this leg would soon come to an end and either turn into a bear leg or a small trading range.<\/li><\/ul>
- The market has formed six consecutive bull bars with bull gaps, increasing the likelihood of a second leg up before a reversal.<\/li><\/ul>\n
- \n
- Scalpers can take advantage of this by entering at the beginning of the pullback, on a high-1.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- The market has been moving in a bull channel for quite some time, and it is currently trading close to the channel’s peak.<\/li><\/ul>\n
- \n
- In a broad bull channel, buying near the channel’s low and selling near its high can benefit both bulls and bears.<\/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>
- Bears should wait to sell the market as a bull spike is developing in the market.<\/li><\/ul>
- If the bears are able to create strong, consecutive bear bars, bulls may decide to leave the market.<\/li><\/ul>\n
- \n
- Bulls may enter the bull trend on a high-1 or high-2 entry bar, as a channel is likely to form following a bull spike.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into price action<\/strong>
- The market has created numerous bull gaps, which are drawing the price in like a magnet. Bulls have a greater chance of at least two legs down before a resumption up if they are unable to follow through.<\/li><\/ul>
- The market has attained a significant mark of 21000. The market typically exhibits trading range price action when it is trading close to a major level.<\/li><\/ul>\n
- \n
- For the next week, traders should therefore anticipate trading range price action.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>\n
- The market has attained a significant mark of 21000. The market typically exhibits trading range price action when it is trading close to a major level.<\/li><\/ul>\n
- The market has created numerous bull gaps, which are drawing the price in like a magnet. Bulls have a greater chance of at least two legs down before a resumption up if they are unable to follow through.<\/li><\/ul>
- If the bears are able to create strong, consecutive bear bars, bulls may decide to leave the market.<\/li><\/ul>\n
- Bears should wait to sell the market as a bull spike is developing in the market.<\/li><\/ul>
- General Discussion<\/strong>
- In a broad bull channel, buying near the channel’s low and selling near its high can benefit both bulls and bears.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
- The market has been moving in a bull channel for quite some time, and it is currently trading close to the channel’s peak.<\/li><\/ul>\n
- The market has formed six consecutive bull bars with bull gaps, increasing the likelihood of a second leg up before a reversal.<\/li><\/ul>\n
- The upward movement is now almost 90 degrees, indicating that this leg would soon come to an end and either turn into a bear leg or a small trading range.<\/li><\/ul>
- The market is trading in a tight bull channel and has broken out above the expanding triangle pattern.<\/li><\/ul>
- It is also a reasonable strategy for some bulls to hold off on exiting the market until after a strong bear bar.<\/li><\/ul>\n
- Since the big round number and channel high serve as significant resistances, bulls with long swing positions might want to liquidate their positions.<\/li><\/ul>