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\/2022\/04\/Screenshot-3329-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- General Discussion<\/strong>
- On Monday (1st<\/sup> day of the week) market gapped down, as sellers sold the close of bar 1.<\/mark><\/li>
- Sellers who sold the close quickly booked their profits at the area of confluence<\/mark><\/li>
- Here confluence was the 50% pullback and the positive gap (which certainly has pending buy limit orders…)<\/mark><\/li><\/ul><\/li>
- Deeper into the price action<\/strong><\/mark>
- So why am I saying that positive gap has pending buy limit orders?<\/mark><\/li>
- What this means: Consider if you were a seller and you sold the high of a bull bar but then the market never came back to your breakeven<\/mark> point<\/li>
- That is what forms a gap, and then as a seller what you do is place a buy order at breakeven and wait <\/mark><\/li>
- And that is why that positive gap acts like support<\/mark><\/li><\/ul><\/li>
- Patterns<\/strong><\/mark>
- Market still in the expanding triangle<\/mark><\/li>
- Market slowly converting into trading range<\/mark><\/li>
- Buyers bought at limit order on 50% pullback, but finally disappointed by the doji bar<\/mark><\/li><\/ul><\/li>
- Pro Tip<\/strong><\/mark>
- Whenever you find area of confluence you place limit order to buy for scalp<\/mark><\/li>
- Like here you saw positive gap as support and 50% pull back<\/mark><\/li><\/ul><\/li><\/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\/2022\/04\/Screenshot-3331-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- General Discussion<\/strong>
- If you zoom out your daily chart, the market has just converted into a Spike and Channel Pattern (bull trend and then bear channel)<\/li>
- Buyers bought at the 2nd<\/sup> Entry Long Bar near the Support area<\/mark><\/li>
- Market currently in Broad Bear Channel and also in a Middle of the Trading Range (most uncertain area of the trading range where you should avoid establishing positions in the market)<\/mark><\/li><\/ul><\/li>
- Deeper into price action<\/strong><\/mark>
- As the market was falling, many traders bought the 1st<\/sup> Entry Long on the small Doji bar, but buyers were disappointed by the Big Bear bar<\/mark><\/li>
- Buyers got second chance to enter on 2nd<\/sup> Entry Long Bar <\/mark><\/li>
- Again buyers could only drive the market upside for 1 bar and then market started reversing down again<\/mark><\/li>
- If market breaks the Support area then this could be the Possible Target (i.e. near Range Bottom)<\/mark><\/li><\/ul><\/li>
- Patterns<\/strong><\/mark>
- Always remember Broad Bear Channels often act like a Trading Range<\/mark><\/li>
- So always look to trade them as Trading Range<\/mark><\/li>
- Failed 2nd<\/sup> Entry Long spotted on the chart which could be the possible sell setup for the week ahead<\/mark><\/li><\/ul><\/li><\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n\n
- General Discussion<\/strong>
- On Monday (1st<\/sup> day of the week) market gapped down, as sellers sold the close of bar 1.<\/mark><\/li>
- Sellers who sold the close quickly booked their profits at the area of confluence<\/mark><\/li>
- Here confluence was the 50% pullback and the positive gap (which certainly has pending buy limit orders…)<\/mark><\/li><\/ul><\/li>
- Deeper into the price action<\/strong><\/mark>
- So why am I saying that positive gap has pending buy limit orders?<\/mark><\/li>
- What this means: Consider if you were a seller and you sold the high of a bull bar but then the market never came back to your breakeven<\/mark> point<\/li>
- That is what forms a gap, and then as a seller what you do is place a buy order at breakeven and wait <\/mark><\/li>
- And that is why that positive gap acts like support<\/mark><\/li><\/ul><\/li>
- Patterns<\/strong><\/mark>
- Market still in the expanding triangle<\/mark><\/li>
- Market slowly converting into trading range<\/mark><\/li>
- Buyers bought at limit order on 50% pullback, but finally disappointed by the doji bar<\/mark><\/li><\/ul><\/li>
- Pro Tip<\/strong><\/mark>
- Whenever you find area of confluence you place limit order to buy for scalp<\/mark><\/li>
- Like here you saw positive gap as support and 50% pull back<\/mark><\/li><\/ul><\/li><\/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- General Discussion<\/strong>
- If you zoom out your daily chart, the market has just converted into a Spike and Channel Pattern (bull trend and then bear channel)<\/li>
- Buyers bought at the 2nd<\/sup> Entry Long Bar near the Support area<\/mark><\/li>
- Market currently in Broad Bear Channel and also in a Middle of the Trading Range (most uncertain area of the trading range where you should avoid establishing positions in the market)<\/mark><\/li><\/ul><\/li>
- Deeper into price action<\/strong><\/mark>
- As the market was falling, many traders bought the 1st<\/sup> Entry Long on the small Doji bar, but buyers were disappointed by the Big Bear bar<\/mark><\/li>
- Buyers got second chance to enter on 2nd<\/sup> Entry Long Bar <\/mark><\/li>
- Again buyers could only drive the market upside for 1 bar and then market started reversing down again<\/mark><\/li>
- If market breaks the Support area then this could be the Possible Target (i.e. near Range Bottom)<\/mark><\/li><\/ul><\/li>
- Patterns<\/strong><\/mark>
- Always remember Broad Bear Channels often act like a Trading Range<\/mark><\/li>
- So always look to trade them as Trading Range<\/mark><\/li>
- Failed 2nd<\/sup> Entry Long spotted on the chart which could be the possible sell setup for the week ahead<\/mark><\/li><\/ul><\/li><\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
- So always look to trade them as Trading Range<\/mark><\/li>
- Buyers got second chance to enter on 2nd<\/sup> Entry Long Bar <\/mark><\/li>
- Market currently in Broad Bear Channel and also in a Middle of the Trading Range (most uncertain area of the trading range where you should avoid establishing positions in the market)<\/mark><\/li><\/ul><\/li>
- Like here you saw positive gap as support and 50% pull back<\/mark><\/li><\/ul><\/li><\/ul>\n<\/div><\/div>\n\n\n\n
- Market slowly converting into trading range<\/mark><\/li>
- What this means: Consider if you were a seller and you sold the high of a bull bar but then the market never came back to your breakeven<\/mark> point<\/li>
- Sellers who sold the close quickly booked their profits at the area of confluence<\/mark><\/li>
- On Monday (1st<\/sup> day of the week) market gapped down, as sellers sold the close of bar 1.<\/mark><\/li>