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Nifty moving in a channel - share trading


share trading
Nifty chart

Tomorrow, Black Friday or Good Friday? Is a question and I am trying to analyse it to find out the answer for the same. Refer to the above nifty hourly chart. Nifty is moving in a channel. It has taken support on the green line 6 times and from that point, it has gone up to the red line. Only last and last but one move is the exception. As per pattern now nifty is supposed to go to the red line and may touch at around 19520. If so, then tomorrow will be the Good Friday. Otherwise, if nifty breaks the channel towards down then targets are 19170, 19126, and 19050. If so, then tomorrow will be Black Friday. Study this and then use it in share trading.

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