LP Markets Trade Talk: kya bolta hai NIFTY ?

consumer connect initiative

Nifty for the week ending 07th October,2022 did not close on positive note on HeikenAshi candlestick charts ,though it did managed to close in green on normal candlestick charts. HeikenAshi candlestick charts use a different formula for calculating opening and closing as compared to normal candlestick. But they do reduce the noise surrounding the price action by considering present and previous normal candlestick price action. Trend and momentum can thus be gauged clearly in HeikenAshi charts as compared to normal candlestick charts.

The levels to watch out for coming week wiil be 17325 on the upside and 17170 on the downside. The close above falling upper trendline in the 15th August,2022 week was not followed up. Nifty even broke below low of 29th August,2022 in the 26th September,2022 week and is trading in the range of 26th September,2022 HeikenAshi candle only. The high and low of that HA candle is 17596 and 17050 which must be watched for further understanding of future direction.

Content of the post is solely meant for information and educational purpose. No part of the article should be considered as an advice to trade / invest in stocks and derivatives markets. Readers are advised to consult their registered financial advisors before initiating any trade. Readers should always keep in mind that trading / investing in stocks and derivatives entails risk of capital. The writer or Local Post is not liable and should not be held responsible for any profits or losses emanating from actions taken by the readers in financial markets. Before taking decisions related to trading and investment in financial markets, every reader should consult registered financial advisors.


Amit Kapoor

Amit Kapoor is a Chartered Market Technician ( CMT,USA),level 3 cleared .Having rich experience of almost 2 decades in financial markets in Insurance, Mutual Fund and Banking Industry and is currently advising / helping investors and traders in the field of technical analysis, portfolio creation and reducing risk of investment through the use of F&O. Views expressed are his own. He can be reached out at

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button