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\/07\/Nifty-50-Inside-Bar-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n\n- General Discussion<\/strong>
- Bears should refrain from trying to sell the market at this time because it is forming a strong bull leg.<\/li><\/ul>
- Because of the bear inside bar that the market has formed, some bear scalpers may decide to sell for a small profit. In a strong bull leg like this, the likelihood of a sell trade being profitable is lower, so scalpers should maintain a good risk to reward ratio.<\/li><\/ul>\n
\n- Bulls can enter on a high-1 or high-2 buy entry if the market gives a bear breakout of the inside bar because a second leg up is likely to come before a reversal.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into the price action<\/strong>
- The bear inside bar has a small body, so it is insufficient to reverse the trend.<\/li><\/ul>
- Bulls should wait for a strong bull close to expect the second leg up if the inside bar gets a strong bear follow-through bar.<\/li><\/ul>\n
\n- The price will be supported by the inside bar measured move, giving bulls a chance to join the bull trend there.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- The market is currently trading close to the big round number (20000), which will serve as a strong price resistance.<\/li><\/ul>\n
\n- Before the price reverses from this level, it is anticipated that it will first show another leg up.<\/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\/08\/Nifty-50-Bull-Flag-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- General Discussion<\/strong>
- On the daily chart, the market is trading in a strong bull trend.<\/li><\/ul>
- Market is creating a double bottom with last week’s low. A measured move up could result from a bull breakout of this double bottom.<\/li><\/ul>\n
\n- Since no strong consecutive bear bars have formed inside the bear channel (illustrated in red), the likelihood of a bull breakout is higher.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into price action<\/strong>
- Due to the market’s close by to the large round number, traders should anticipate a few days of sideways price movement.<\/li><\/ul>
- Because of how strong the bull trend is, bears will need at least a double top to turn it around. This suggests that before any reversal, traders should anticipate at least a second leg up.<\/li><\/ul>
- You’ll notice that there are numerous open bull gaps within the strong bull channel. If bears are able to give a bear breakout of the double bottom, these gaps will act as a magnet for the price.<\/li><\/ul>\n
\n- The market may create a large trading range equal to the height of the bull channel if it gives a bear breakout of the double bottom (according to market cycle theory).<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- Market is forming a bull flag and breakout of which could lead to a measured move up.<\/li><\/ul>\n
\n- Traders should keep a close eye on the upcoming bars as they will determine whether the market will make a measured move upward or expand into a wide trading range.<\/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>
- Bears should refrain from trying to sell the market at this time because it is forming a strong bull leg.<\/li><\/ul>
- Because of the bear inside bar that the market has formed, some bear scalpers may decide to sell for a small profit. In a strong bull leg like this, the likelihood of a sell trade being profitable is lower, so scalpers should maintain a good risk to reward ratio.<\/li><\/ul>\n
- \n
- Bulls can enter on a high-1 or high-2 buy entry if the market gives a bear breakout of the inside bar because a second leg up is likely to come before a reversal.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into the price action<\/strong>
- The bear inside bar has a small body, so it is insufficient to reverse the trend.<\/li><\/ul>
- Bulls should wait for a strong bull close to expect the second leg up if the inside bar gets a strong bear follow-through bar.<\/li><\/ul>\n
- \n
- The price will be supported by the inside bar measured move, giving bulls a chance to join the bull trend there.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- The market is currently trading close to the big round number (20000), which will serve as a strong price resistance.<\/li><\/ul>\n
- \n
- Before the price reverses from this level, it is anticipated that it will first show another leg up.<\/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>
- On the daily chart, the market is trading in a strong bull trend.<\/li><\/ul>
- Market is creating a double bottom with last week’s low. A measured move up could result from a bull breakout of this double bottom.<\/li><\/ul>\n
- \n
- Since no strong consecutive bear bars have formed inside the bear channel (illustrated in red), the likelihood of a bull breakout is higher.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into price action<\/strong>
- Due to the market’s close by to the large round number, traders should anticipate a few days of sideways price movement.<\/li><\/ul>
- Because of how strong the bull trend is, bears will need at least a double top to turn it around. This suggests that before any reversal, traders should anticipate at least a second leg up.<\/li><\/ul>
- You’ll notice that there are numerous open bull gaps within the strong bull channel. If bears are able to give a bear breakout of the double bottom, these gaps will act as a magnet for the price.<\/li><\/ul>\n
- \n
- The market may create a large trading range equal to the height of the bull channel if it gives a bear breakout of the double bottom (according to market cycle theory).<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- Market is forming a bull flag and breakout of which could lead to a measured move up.<\/li><\/ul>\n
- \n
- Traders should keep a close eye on the upcoming bars as they will determine whether the market will make a measured move upward or expand into a wide trading range.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
- Traders should keep a close eye on the upcoming bars as they will determine whether the market will make a measured move upward or expand into a wide trading range.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
- Market is forming a bull flag and breakout of which could lead to a measured move up.<\/li><\/ul>\n
- You’ll notice that there are numerous open bull gaps within the strong bull channel. If bears are able to give a bear breakout of the double bottom, these gaps will act as a magnet for the price.<\/li><\/ul>\n
- Because of how strong the bull trend is, bears will need at least a double top to turn it around. This suggests that before any reversal, traders should anticipate at least a second leg up.<\/li><\/ul>
- Due to the market’s close by to the large round number, traders should anticipate a few days of sideways price movement.<\/li><\/ul>
- Market is creating a double bottom with last week’s low. A measured move up could result from a bull breakout of this double bottom.<\/li><\/ul>\n
- On the daily chart, the market is trading in a strong bull trend.<\/li><\/ul>
- General Discussion<\/strong>
- Before the price reverses from this level, it is anticipated that it will first show another leg up.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
- The market is currently trading close to the big round number (20000), which will serve as a strong price resistance.<\/li><\/ul>\n
- Bulls should wait for a strong bull close to expect the second leg up if the inside bar gets a strong bear follow-through bar.<\/li><\/ul>\n
- The bear inside bar has a small body, so it is insufficient to reverse the trend.<\/li><\/ul>
- Because of the bear inside bar that the market has formed, some bear scalpers may decide to sell for a small profit. In a strong bull leg like this, the likelihood of a sell trade being profitable is lower, so scalpers should maintain a good risk to reward ratio.<\/li><\/ul>\n
- Bears should refrain from trying to sell the market at this time because it is forming a strong bull leg.<\/li><\/ul>