Hello friends, welcome to our website Bhartiye Share Market. Friends, in today's article, we will analyze the Nifty Fifty index and tell you about its support and resistance, that here is its support and here is its resistance and along with that we will also tell you about its breakout because right now our recruitment market is moving in a range, so we will tell you about the breakout of the range, where this range can break out, so below you will also get to see some screenshots, by looking at which you will be able to easily understand where there is support and resistance and where your range is breaking.
Support & Resistance
So here you can see in the screenshot that our market has closed at 23090 and here just above that you can see that at 23000 you can see a line in blue colour, it is a resistance and if this resistance breaks, then the next resistance for you will be 23160, which you will see just above it in red colour and if the resistance of 160 also breaks here, then you will get to see the resistance of 23290 here and if the resistance of 23000 290 also breaks here, then you will get to see the resistance here which will be seen at 23350, so now let us talk about its support, so here if the market moves below 23090 here, then you will get to see a strong support here, which you will get to see at 22 thousand 976 and here by looking at this screenshot you can also see can easily understand.
Range Breakout
So now we will also tell you about the second screenshot. Now you will be able to see the second screenshot here and here you will be able to see a range in the 5-minute chart frame and where the breakout of the range will happen here, you will also see it in red colour. Here I have drawn a red line so that you can understand well if the market goes above 23425. Your range breakout will be considered on the upper side and if our market goes below 22970 here, then your range breakout will be considered on the lower side. So you have to wait for the breakout of this range and think of creating a position on the side where the breakout of the range will happen.
In today's article, we have told you about the support and resistance of the Nifty Fifty Index and the range breakout that happens here. If you like the information given by us, then definitely share this information with your friends for articles on any other topic, you can write to us in the comment box, and we will also do an article on that topic.
NOTE
This article is only for educational purposes, we do not advise anyone to invest, so please invest after consulting your advisor or invest at your own risk, we are not responsible for your risk.