Nifty Prediction For coming days

TeamTaurus Updated   

Lets see what are the possibilities for comning days in nifty

Bullish View as we can see Inverted H&S in weekly and daily TF, As projected in the Chart above and below. Lets not forget that we have All time high near by and anything might happen at this point,
So we will consider bullish only once the high is broken and retested and sustained. Simple price action patterns trade will help you keep your mind clean regarding the trend, And identify perfect S&R levels.

Now lets see the Big WHAT IF !!


The Picture above Shows the Possibilities of RSI Divergence if at all matket reaches the All time high, Thats when we might see a Double top with RSI divergence. Take confluence from Volume and Oscilator divergence for bearish moves,
Look for Option chain Open Interest Levels see if major call are being written or puts being bought, these will help you identify the trend reversal.

MTF anaysis helps you trade with trend. I made Weekly and daily .. now its your turn to make intraday analysis. You can reach out to me here if you need any suggestion.

First train you eyes to identify the patterns then think about logic and its technical aspect.
No one swims without drowning first and no one wins without loosing first.

A nice bearish Engulf candle at the top of the swing and near ATH .. Lets wait for the break of 8th NOV low. ..
SGX Nifty


Both SGX and Nifty gives a clear indication that we are heading high to 18600 ATH. Only tool that is not convinced is RSI with its bearish divergence as you can see in SGX Picture 1 and Nifty Picture 2

Being a confluence trader i need all these 3 aspects to come together
As i said in the post earlier i'm not bullish as long as ATH (All Time High) is not broken.

This whole analysis is for positional traders not intraday .. so try to understand why we are waiting for entries

Understanding ::::::::::::::::::::::
Strong Candle yet volume are below average
i wouldnt suggest neither bullish nor bearish
as of now .. either i'm waiting for a gap up
tomorrow or flat openeing .. Gap up and sustain
might give bullish view ... Flat and bearish candle
is either consolidation before break out or a reversal ...
wait for confirmations

* Low Volumes on strong candle
* Rsi still showing divergence
Order cancelled:

As expected It did not sustain above the pattern


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