{"id":199654,"date":"2024-02-03T07:00:00","date_gmt":"2024-02-03T15:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=199654"},"modified":"2024-02-02T06:20:20","modified_gmt":"2024-02-02T14:20:20","slug":"nifty-50-inside-bar-on-monthly","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/es\/analysis\/nifty-50-inside-bar-on-monthly\/","title":{"rendered":"Nifty 50 Inside Bar"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Market Overview: Nifty 50 Futures<\/h2>\n\n\n\n<p><a href=\"https:\/\/www.investing.com\/indices\/india-50-futures\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Nifty 50<\/strong><\/a> Inside Bar on the monthly chart. On the monthly chart, Nifty 50 closed weakly bullish with a very small body. Despite this, the market remains in the breakout phase since the bull breakout of the wedge top pattern. However, due to the lack of strong follow-through, there&#8217;s a high likelihood of a pullback in the upcoming month. On the weekly chart, Nifty 50 also closed weakly bullish with a long tail at the top, forming a micro double top pattern. Increased trading range price action is observed on both the monthly and weekly charts.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Nifty 50 futures<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Monthly<\/em> Nifty 50 chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Inside-Bar.png\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Inside-Bar-680x383.png\" alt=\"Nifty 50 Inside Bar\" class=\"wp-image-199663\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Inside-Bar-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Inside-Bar-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Inside-Bar-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Inside-Bar-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Inside-Bar-2048x1152.png 2048w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-group\"><div class=\"wp-block-group__inner-container is-layout-flow wp-block-group-is-layout-flow\">\n<ul class=\"wp-block-list\">\n<li><strong>General Discussion<\/strong>\n<ul class=\"wp-block-list\">\n<li>The market continues in a strong bull trend, advising bears to refrain from selling until strong bear bars appear on the monthly chart.<\/li>\n\n\n\n<li>Bulls currently in long positions should hold, considering the best outcome for bears now is a trading range.<\/li>\n\n\n\n<li>Exit long positions if bears manage to form strong consecutive bear bars or a single strong bear bar.<\/li>\n\n\n\n<li>In case of a weak upcoming pullback with weak bear bars, bulls can enter a long position on a high-1 bar.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Deeper into the Price Action<\/strong>\n<ul class=\"wp-block-list\">\n<li>Although Nifty 50 broke out bullishly with strong consecutive bull bars, the lack of significant follow-through raises the risk of breakout failure if bears produce a strong bear bar.<\/li>\n\n\n\n<li>Trading now below the significant big round number 22000, which acts as strong resistance for the price.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Patterns<\/strong>\n<ul class=\"wp-block-list\">\n<li>Generally, the success rate of a bull breakout from a wedge top pattern is around 25%.<\/li>\n\n\n\n<li>This likelihood diminishes further if strong follow-through bars fail to materialize post-breakout.<\/li>\n\n\n\n<li>The formation of an inside bar, indicative of trading range price action, suggests a potential pullback soon.<\/li>\n\n\n\n<li>Given the strength of the bull trend, the best outcome for bears is a trading range, not a reversal.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Weekly<\/em> Nifty 50 chart<\/h3>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Micro-Double-Top.png\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Micro-Double-Top-680x383.png\" alt=\"Nifty 50 Micro Double Top\" class=\"wp-image-199666\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Micro-Double-Top-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Micro-Double-Top-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Micro-Double-Top-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Micro-Double-Top-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Micro-Double-Top-2048x1152.png 2048w\" sizes=\"auto, (max-width: 680px) 100vw, 680px\" \/><\/a><\/figure>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>General Discussion<\/strong>\n<ul class=\"wp-block-list\">\n<li>Nifty 50 has entered a small trading range on the weekly chart, prompting bears to await a strong reversal attempt before selling.<\/li>\n\n\n\n<li>Bulls can maintain long positions until bears execute a strong bear breakout of the trading range.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Deeper into Price Action<\/strong>\n<ul class=\"wp-block-list\">\n<li>In the past three weeks, bears attempted reversals, but weak bear bars hindered their efforts.<\/li>\n\n\n\n<li>The recent formation of a micro double top pattern signifies another attempt by bears to trigger a reversal.<\/li>\n\n\n\n<li>Should bears fail to generate strong bear bars this time, traders should consider buying on a high-2 entry bar and anticipate the continuation of the bull trend.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Patterns<\/strong>\n<ul class=\"wp-block-list\">\n<li>With Nifty 50 reaching the significant big round number 22000, traders should anticipate trading range price action in the coming weeks.<\/li>\n\n\n\n<li>The formation of a micro double top pattern suggests a subsequent measured move up\/down<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n\n\n\n<h3 class=\"wp-block-heading\">Market analysis reports archive<\/h3>\n\n\n\n<p>You can access all weekend reports on the <a rel=\"noreferrer noopener\" class=\"rank-math-link\" href=\"https:\/\/www.brookstradingcourse.com\/blog\/analysis\/\" target=\"_blank\">Market Analysis<\/a> page.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\" \/>\n","protected":false},"excerpt":{"rendered":"<p>Market Overview: Nifty 50 Futures Nifty 50 Inside Bar on the monthly chart. On the monthly chart, Nifty 50 closed weakly bullish with a very small body. Despite this, the market remains in the breakout phase since the bull breakout of the wedge top pattern. However, due to the lack of strong follow-through, there&#8217;s a [&hellip;]<\/p>\n","protected":false},"author":12159,"featured_media":199663,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"shadow","_genesis_layout":"","footnotes":""},"categories":[136,1851],"tags":[1852],"class_list":{"0":"post-199654","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-analysis","8":"category-nifty-50","9":"tag-nifty-50","10":"entry","11":"override","12":"shadow"},"featured_image_src":"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/02\/Nifty-50-Inside-Bar.png","author_info":{"display_name":"Rishi","author_link":"https:\/\/www.brookstradingcourse.com\/es\/author\/rishi\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/199654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/users\/12159"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/comments?post=199654"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/posts\/199654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media\/199663"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/media?parent=199654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/categories?post=199654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/es\/wp-json\/wp\/v2\/tags?post=199654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}