SCS Daily Dose for Monday – 26/07/2021.
Nifty Hourly Chart as on 26-07-2021 at 9:00 AM
There are six horizontal lines on chart.
Let me discuss in detail, as I will use above color Codes in future also.
Green and Red Lines.
Green Line – Shows Top of the Range.
Red Line – Shows Bottom of the Range.
Blue Lines – Top Gap.
Pink Lines – Bottom Gap.
Let me explain here, how to interpret above chart.
- Broader Range – of the Nifty Hourly Chart is 15600 (Red Line) to 15950 (Green Line). It means these are the most expected boundaries of Nifty as per the current chart.
If anything goes above or below it then we may need to redefine the range again, means the following interpretation will not useful, new studies will be necessary to understand it with new boundaries.
Top Gap – 15828 to 15936 (Blue Lines). Team SCS will explain in next Wednesday’s session what Gap Theory of SCS is and its importance.
Top gap of the range is always a no trade zone for buyers. That doesn’t mean that you are suggested to sell here, when to sell is dependent on data analysis (Team SCS will give data analysis training in future Wednesday sessions).
Bottom Gap – 15630 to 15700 (Red Lines). Bottom gap of the range is always a no trade zone for sellers. That doesn’t mean that you are suggested to buy here, when to buy is dependent on data analysis.
Here possible trade means subject to data and behavioral analysis.
- Buy Nifty near 15600 to 15650 with Stop Loss of 15534.35.
- Sell Nifty near 15900 to 15950 with Stop Loss of 16012.15
Tomorrow, we will discuss 5 Minutes Chart of Nifty. SCS promises you that you will get something new every day, which will improve your knowledge on Stock Market.
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This Article is solely for educational purposes. It is advisable not to trade on the basis of this article. Take help of your financial advisor before taking any trades.