Nifty is extremely Bullish and looks to touch 20100 and could reach 20300 if no selling from big boys... reason not known but huge money keep on being pumpled in to Nifty and BN shares
once Nifty cross ATH then as per extension levels Nifty to hit 19800 this month in very fast manner.
Nifty has touched 19000 which is also Fib extension zone and trend line resistance line zone. Exit all Nifty CE positions and can take PE with good rejection. Price could re test 18880 area for support. price has spiked after ATH breakout with out a re test. so re test is vital for safe spikes.
Nifty is in a Fib range and bullish pattern is still valid. Till support not broken and re test of support works then Nifty will move to resistance zone again....
while nifty given multiple rejections at 18880 zone but still today closing is at 50% FIB level of current swing. Tomorrow opening, further price action and friday closing to be watched. ITC, Reliance seeing correction wave due to which Nifty could not move up. Banking shares other than HDFC are also in correction wave. once these shares bounce from FIB levels...
Bank NIfty took support for 4th time and resistance line at 43900 area to be watched for any upper targets.....
Nifty clealry took double bottom support at swing low at FIB levels and bounced up with good volumes. Nifty could make new higher levels since IT shares starting supporting now. Full support of Reliance could support Nifty on upside for sure. Buy Nifty at every dips is safer
clearly Rate pause as been received as positive and great news for equity now. with bullish RSI 3 targets on higher side could be achieved very fast. price moves very fast in short time with strong RSI and cant catch the Top now......
BN breaking the channel support becomes bearish but it closed at previous channel support area , so price action at previous double bottom support area to be watched now.... but sell on rise should work now
Once again Nifty spot is at channel support and the corrective wave at channel support is at 0.50 FIB level too. Previous Nifty high of 18890 seems to be next Target for Nifty since bullish pattern is still intact.
BN has been making higher ranges and moving by making good support channels. still support channel is intact its simple buy on dips
as on 9th June closing Nifty is at channel low support and is a good buy till channel support holds. Looks like today whole day market has been selling the puts indicating long build up in Nifty.
In four hour chart a clear Cup and Handle pattern with price strong upside indicating a very clear upside to a level equal to that of the height of the cup, so Target seems to be higher than 4400 level .... Just be in Buy side
Right now Nifty is about to complete the fourth leg which is corrective pattern in 3 legs going to resume fifth leg of the bullish pattern and could touch 18680 and could also make higer level this month.
Down side is more clear in Dow and Nasdaq when compared to SPX since its in more clear formation now. Clear rejection and bearish trend in Dow and Nasdaq with clear diamond formation and the levels in SPX are very blur and diamond formation is hidden here. with bearish trend is clear now SPX is heading towards 4065 and 4000 as immediate targets.
Its clear Diamond pattern now with multiple rejections in Dwo and SPX masked it a clear down side move till 12840 as immediate target
once again Dow price rejection at previously discussed several times as resistance and distribution area as shown in chart. Rejection is very clear with diamond pattern indicating bearish trend towards target of 32000 which is previous seen support.
ICICI bank too is at resistance area now which has acted as supply zone, this is sure sell along with HDFC Bank and Bank Nifty Sell from 17 april week