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\/05\/Screenshot-3339-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- General Discussion<\/strong>
- Market still in the expanding triangle and a possible broad bear channel<\/li><\/ul>
- Market continuously giving deep pullbacks on either side<\/li><\/ul>
- Whenever market gives deep pullbacks, this generally means that the market is either in a broad channel or in a trading range.<\/li><\/ul>
- In our case the market is probably in a broad bear channel<\/li><\/ul><\/li>
- Deeper into the price action<\/strong>
- Market moving in two legs down (possible measured move down)<\/li><\/ul>
- This is where the concept of Leg 1 = Leg 2 comes in, where a leg simply means a move or a swing in a particular direction up or down<\/li><\/ul>
- Whenever market is in a channel or trading range and shows us a two legs move, we can project the possible target for the 2nd<\/sup> leg, as shown in the chart image above.<\/li><\/ul><\/li>
- Patterns<\/strong>
- Market has given a breakdown of the inside bar with a big bear bar closing near its low.<\/li><\/ul>
- As market was in a trading range many bulls had placed their buy limit orders at support (shown in green) but now they are trapped.<\/li><\/ul>
- Those bulls could now possibly scale in to their positions on High 1 or High 2 opportunities to get out at breakeven on first trade and with profit on other.<\/li><\/ul>
- This would just result in a stairs pattern, which is nothing but a sign of a broad channel and weak move down.<\/li><\/ul><\/li>
- Pro Tip<\/strong>
- In general, you should never buy at the high of the trading range and never sell at the low.<\/li><\/ul>
- This generally becomes tempting but most of the time it\u2019s just a trap and a false breakout, so avoid buying high and selling low<\/li><\/ul>
- As we are assuming this weekly chart to be in a broad trading range, we do not buy until market reaches much lower near the Trading range low (as market \u201cPossible Target\u201d)<\/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\/05\/Screenshot-3340-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n- General Discussion<\/strong>
- Nifty 50 is showing consecutive broad bear channels on the daily chart.<\/li><\/ul>
- Overall, the market is just flat for the last 100 bars on the daily chart.<\/li><\/ul>
- Market looks like a trading range therefore you trade it like a trading range. Buy at the lows and sell at the highs, as that is best strategy for this market.<\/li><\/ul><\/li>
- Deeper into price action<\/strong>
- This is the 3rd<\/sup> consecutive broad bear channel with 2nd<\/sup> leg in the last channel already completed.<\/li><\/ul>
- You can clearly see that bulls are causing deep pullbacks to the upside when market moves down (shown in purple color).<\/li><\/ul>
- Whenever this happens, the market is in a broad bear channel, which generally means that a breakout of channel would lead to a broad trading range.<\/li><\/ul>
- That is what happened here as you can see after the breakout of the 1st <\/sup>and 2nd<\/sup> broad bear channels. The market converted into a broad trading range.<\/li><\/ul><\/li>
- Patterns<\/strong>
- On daily chart the market is in a trading range. Look to buy low and sell high.<\/li><\/ul>
- With this 3rd<\/sup> broad bear channel down, possibilities are that market would be spending 2-3 weeks sideways once reaching the Leg 1 = Leg 2 measured move.<\/li><\/ul>
- Nifty 50 could be going back up to the bear channel high and then resuming the 3rd<\/sup> push down to end the 3rd<\/sup> and possible last broad bear channel on the daily chart.<\/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>
- Market still in the expanding triangle and a possible broad bear channel<\/li><\/ul>
- Market continuously giving deep pullbacks on either side<\/li><\/ul>
- Whenever market gives deep pullbacks, this generally means that the market is either in a broad channel or in a trading range.<\/li><\/ul>
- In our case the market is probably in a broad bear channel<\/li><\/ul><\/li>
- Deeper into the price action<\/strong>
- Market moving in two legs down (possible measured move down)<\/li><\/ul>
- This is where the concept of Leg 1 = Leg 2 comes in, where a leg simply means a move or a swing in a particular direction up or down<\/li><\/ul>
- Whenever market is in a channel or trading range and shows us a two legs move, we can project the possible target for the 2nd<\/sup> leg, as shown in the chart image above.<\/li><\/ul><\/li>
- Patterns<\/strong>
- Market has given a breakdown of the inside bar with a big bear bar closing near its low.<\/li><\/ul>
- As market was in a trading range many bulls had placed their buy limit orders at support (shown in green) but now they are trapped.<\/li><\/ul>
- Those bulls could now possibly scale in to their positions on High 1 or High 2 opportunities to get out at breakeven on first trade and with profit on other.<\/li><\/ul>
- This would just result in a stairs pattern, which is nothing but a sign of a broad channel and weak move down.<\/li><\/ul><\/li>
- Pro Tip<\/strong>
- In general, you should never buy at the high of the trading range and never sell at the low.<\/li><\/ul>
- This generally becomes tempting but most of the time it\u2019s just a trap and a false breakout, so avoid buying high and selling low<\/li><\/ul>
- As we are assuming this weekly chart to be in a broad trading range, we do not buy until market reaches much lower near the Trading range low (as market \u201cPossible Target\u201d)<\/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>
- Nifty 50 is showing consecutive broad bear channels on the daily chart.<\/li><\/ul>
- Overall, the market is just flat for the last 100 bars on the daily chart.<\/li><\/ul>
- Market looks like a trading range therefore you trade it like a trading range. Buy at the lows and sell at the highs, as that is best strategy for this market.<\/li><\/ul><\/li>
- Deeper into price action<\/strong>
- This is the 3rd<\/sup> consecutive broad bear channel with 2nd<\/sup> leg in the last channel already completed.<\/li><\/ul>
- You can clearly see that bulls are causing deep pullbacks to the upside when market moves down (shown in purple color).<\/li><\/ul>
- Whenever this happens, the market is in a broad bear channel, which generally means that a breakout of channel would lead to a broad trading range.<\/li><\/ul>
- That is what happened here as you can see after the breakout of the 1st <\/sup>and 2nd<\/sup> broad bear channels. The market converted into a broad trading range.<\/li><\/ul><\/li>
- Patterns<\/strong>
- On daily chart the market is in a trading range. Look to buy low and sell high.<\/li><\/ul>
- With this 3rd<\/sup> broad bear channel down, possibilities are that market would be spending 2-3 weeks sideways once reaching the Leg 1 = Leg 2 measured move.<\/li><\/ul>
- Nifty 50 could be going back up to the bear channel high and then resuming the 3rd<\/sup> push down to end the 3rd<\/sup> and possible last broad bear channel on the daily chart.<\/li><\/ul><\/li><\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
- Nifty 50 could be going back up to the bear channel high and then resuming the 3rd<\/sup> push down to end the 3rd<\/sup> and possible last broad bear channel on the daily chart.<\/li><\/ul><\/li><\/ul>\n\n\n\n
- With this 3rd<\/sup> broad bear channel down, possibilities are that market would be spending 2-3 weeks sideways once reaching the Leg 1 = Leg 2 measured move.<\/li><\/ul>
- Patterns<\/strong>
- That is what happened here as you can see after the breakout of the 1st <\/sup>and 2nd<\/sup> broad bear channels. The market converted into a broad trading range.<\/li><\/ul><\/li>
- Whenever this happens, the market is in a broad bear channel, which generally means that a breakout of channel would lead to a broad trading range.<\/li><\/ul>
- You can clearly see that bulls are causing deep pullbacks to the upside when market moves down (shown in purple color).<\/li><\/ul>
- This is the 3rd<\/sup> consecutive broad bear channel with 2nd<\/sup> leg in the last channel already completed.<\/li><\/ul>
- Overall, the market is just flat for the last 100 bars on the daily chart.<\/li><\/ul>
- Nifty 50 is showing consecutive broad bear channels on the daily chart.<\/li><\/ul>
- General Discussion<\/strong>
- As we are assuming this weekly chart to be in a broad trading range, we do not buy until market reaches much lower near the Trading range low (as market \u201cPossible Target\u201d)<\/li><\/ul><\/li><\/ul>\n<\/div><\/div>\n\n\n\n
- This generally becomes tempting but most of the time it\u2019s just a trap and a false breakout, so avoid buying high and selling low<\/li><\/ul>
- In general, you should never buy at the high of the trading range and never sell at the low.<\/li><\/ul>
- Those bulls could now possibly scale in to their positions on High 1 or High 2 opportunities to get out at breakeven on first trade and with profit on other.<\/li><\/ul>
- As market was in a trading range many bulls had placed their buy limit orders at support (shown in green) but now they are trapped.<\/li><\/ul>
- Patterns<\/strong>
- Whenever market is in a channel or trading range and shows us a two legs move, we can project the possible target for the 2nd<\/sup> leg, as shown in the chart image above.<\/li><\/ul><\/li>
- This is where the concept of Leg 1 = Leg 2 comes in, where a leg simply means a move or a swing in a particular direction up or down<\/li><\/ul>
- Market moving in two legs down (possible measured move down)<\/li><\/ul>
- Whenever market gives deep pullbacks, this generally means that the market is either in a broad channel or in a trading range.<\/li><\/ul>
- Market continuously giving deep pullbacks on either side<\/li><\/ul>
- Market still in the expanding triangle and a possible broad bear channel<\/li><\/ul>