We picked time cycle tool available in drawing tools & tried getting dominant lows & highs. Over the process we realised that 18 Week cycle is dominant & running for Bank Nifty Index giving us important lows & highs. Next low could be due in middle of the Oct 2022 which could be shifted to close to Nov 2022 if current high holds at 39759 which was identified as the recent high
Cycle Analysis Cycles are always measured from low to low only but at times we can break that rule for analysis purpose & we can even take low to high but these won't be termed as cycles because cycles are always low to low.
In Cyclical Analysis Low = Trough High= Crest
Short Term Outlook We identified an ending diagonal which marks the end of the trend & usually occurs later in the trend signifying that we could be close to the tops Till the the high of 39759 is intact we assume that another wave is pending downside & have to review again if 39759 highs are taken out on upside. On short term basis a parallel channel is used to get possible resistance zone which could be upper end of parallel channel close to 39300-39400 zone . If halts at the top then we may assume that fall may start or if Index fall below 38803 lows
Thank you for watching the video & have a nice weekend.
Be patient take some time understand what mistake you did. Eventually you will run out of mistakes. Do follow the chart daily you will become pro one day. All the best.
RahulDevDhanauli
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thnx tmvinoth3
RahulDevDhanauli
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On expiry day I by mistake put a bid for buying 17700 call option 1100 quantity , at that time nifty is at 17699... then unexpected fall happened and I forgot to cancel the bid. And put my mobile on charging, when I see it after some time nifty trade at 17550.
RahulDevDhanauli
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now I don't know how to recover from this shock. Nevertheless I will try again with it some small capital but this time I use different techniques. Else everything is in God's hand.
mukeshsingh92
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@RahulDevDhanauli, dear Rahul, nothing is lost yet.. you can immediately sell 17650 call options ..... do that immediately ..the quantity.. this will surely reduces you losses.
RahulDevDhanauli
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Abhishek sir you are gifted person for sure.
punterpk
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Great Analysis as always Abhishek. Thanks a lot. I've just undergone an eye surgery so not trading unfortunately. Today we should see a major dip. Tx again.