{"id":220301,"date":"2024-10-12T07:00:00","date_gmt":"2024-10-12T14:00:00","guid":{"rendered":"https:\/\/www.brookstradingcourse.com\/?p=220301"},"modified":"2024-10-11T07:25:37","modified_gmt":"2024-10-11T14:25:37","slug":"nifty-50-weekly-micro-double-bottom","status":"publish","type":"post","link":"https:\/\/www.brookstradingcourse.com\/pt-br\/analysis\/nifty-50-weekly-micro-double-bottom\/","title":{"rendered":"Nifty 50 Micro Double Bottom"},"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> Micro Double Bottom on the weekly chart. The market on the weekly chart closed with a weak bearish candle, showing a tail at the bottom. This week&#8217;s candle is forming a micro double bottom pattern with the previous swing low. Overall, the market remains in a strong bullish trend on the weekly chart, and the strong bearish bar has been followed by a weak follow-through bar. On the daily chart, Nifty 50 is forming a head and shoulders pattern along with a wedge bottom. The market is now trading near the significant round number of 25,000, so traders can expect increased price action within a wider trading range in the upcoming week.<\/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>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\/10\/Nifty-50-Micro-Double-Bottom.png\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Nifty-50-Micro-Double-Bottom-680x383.png\" alt=\"Nifty 50 Micro Double Bottom\" class=\"wp-image-220331\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Nifty-50-Micro-Double-Bottom-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Nifty-50-Micro-Double-Bottom-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Nifty-50-Micro-Double-Bottom-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Nifty-50-Micro-Double-Bottom-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Nifty-50-Micro-Double-Bottom-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>Traders who have not yet entered this strong bull trend can wait for a high-1 or high-2 setup. Since the market has not shown a strong follow-through, traders should focus on taking or scaling into long positions.<\/li>\n\n\n\n<li>It is advisable for traders to avoid shorting at the moment, as the market has not produced another strong bearish bar. A short position could be considered if the bears manage to form a strong low-1 setup or if there is a failure in the high-2 setup.<\/li>\n\n\n\n<li>Traders who are already holding long positions should continue to hold until the market produces strong consecutive bearish bars.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Deeper into Price Action<\/strong>\n<ul class=\"wp-block-list\">\n<li>The market is currently in a strong bull trend. For this trend to reverse, the bears would need to establish consecutive strong bearish bars, which they have so far been unable to do.<\/li>\n\n\n\n<li>It\u2019s also important to observe that while the bears occasionally manage to produce a strong bearish bar, the follow-through has been weak, indicating that bulls are buying at bearish closes.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Patterns<\/strong>\n<ul class=\"wp-block-list\">\n<li>The market is trading within a bullish channel and has shown a bearish bar. For this bearish breakout to succeed, the bears will need to follow it with strong continuation.<\/li>\n\n\n\n<li>If the bears do succeed in generating a good follow-through, there is a higher probability that the market will drop toward the lower end of the bullish channel (around 22,800).<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">The <em>Daily<\/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\/10\/Nifty-50-Head-And-Shoulders.png\" target=\"_blank\" rel=\"noreferrer noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"680\" height=\"383\" src=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Nifty-50-Head-And-Shoulders-680x383.png\" alt=\"Nifty 50 Head And Shoulders\" class=\"wp-image-220334\" title=\"\" srcset=\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Nifty-50-Head-And-Shoulders-680x383.png 680w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Nifty-50-Head-And-Shoulders-300x169.png 300w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Nifty-50-Head-And-Shoulders-768x432.png 768w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Nifty-50-Head-And-Shoulders-1536x864.png 1536w, https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2024\/10\/Nifty-50-Head-And-Shoulders-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>The market has been showing an increasing trading range price action for the past two weeks. Traders should wait for a clear breakout from a pattern before making major moves.<\/li>\n\n\n\n<li>Since the market has formed a V-shaped pattern, if it starts showing consecutive bullish bars, traders should consider buying with the assumption that this could be the bottom of the trading range.<\/li>\n\n\n\n<li>Traders who have taken short positions should wait for a strong bearish breakout of the head and shoulders pattern. However, they should exit their positions if the market forms a strong bullish bar.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Deeper into Price Action<\/strong>\n<ul class=\"wp-block-list\">\n<li>Unlike before, the chart now shows both a strong bullish leg and a strong bearish leg, indicating that traders should treat the market like a trading range. This implies that instead of aiming for long swing positions, traders should focus on quick exits\u2014buying low and selling high.<\/li>\n\n\n\n<li>The market is now trading near the significant round number of 25,000. Whenever the market trades near such a key level, there is often an increase in trading range price action.<\/li>\n<\/ul>\n<\/li>\n\n\n\n<li><strong>Patterns<\/strong>\n<ul class=\"wp-block-list\">\n<li>The market is forming a head and shoulders pattern, and a strong bearish breakout could lead to a large measured move downward, based on the height of the head and shoulders pattern.<\/li>\n\n\n\n<li>Additionally, the market is currently trading within a wedge bottom, and a breakout from this wedge could result in the formation of a broader trading range.<\/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 Micro Double Bottom on the weekly chart. The market on the weekly chart closed with a weak bearish candle, showing a tail at the bottom. This week&#8217;s candle is forming a micro double bottom pattern with the previous swing low. Overall, the market remains in a strong bullish [&hellip;]<\/p>\n","protected":false},"author":12159,"featured_media":220331,"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-220301","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\/10\/Nifty-50-Micro-Double-Bottom.png","author_info":{"display_name":"Rishi","author_link":"https:\/\/www.brookstradingcourse.com\/pt-br\/author\/rishi\/"},"_links":{"self":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/220301","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/users\/12159"}],"replies":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/comments?post=220301"}],"version-history":[{"count":0,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/posts\/220301\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media\/220331"}],"wp:attachment":[{"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/media?parent=220301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/categories?post=220301"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.brookstradingcourse.com\/pt-br\/wp-json\/wp\/v2\/tags?post=220301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}