SGX NIFTY- Anchored VWAP Detailed Analysis!
Attached: SGXNIFTY Daily Live Market Chart as of 24th March 2023 (post 12:00 AM)
I am sharing this to bring to your attention the following points:
1. Price is currently consolidating below a Cluster of Anchored VWAPs (labelled on the chart). These same AVWAPs have acted as support in the past, see from where Price had rallied off in Oct 2022 for example
2. Price is also consolidating in the Lower Half of the Falling Trend Channel drawn from the Dec 2022 Highs
3. 16800 is the Make or Break Level using the Law of Polarity (labelled on the chart)
So when Price breaks⚠️ down these 3 Confluences, expect the 🐻Bear Market/ Bear Trend📉 to ACCELERATE 🩸!
And that will then Open the AVWAP Downside Targets🎯 as follows:
T1= 16400
T2= 15800
T3= 15300
Also these are the Very Same Downside Targets that I have been calling for when Nifty was trading at 18000 in the first week of Jan 2023.
In addition to all of this you would also notice my Elliot Wave marking for the B Wave false breakout to New Highs. We are in Wave C of a Bear Market presently.
Best,
Siddharth Bhansali
I am sharing this to bring to your attention the following points:
1. Price is currently consolidating below a Cluster of Anchored VWAPs (labelled on the chart). These same AVWAPs have acted as support in the past, see from where Price had rallied off in Oct 2022 for example
2. Price is also consolidating in the Lower Half of the Falling Trend Channel drawn from the Dec 2022 Highs
3. 16800 is the Make or Break Level using the Law of Polarity (labelled on the chart)
So when Price breaks⚠️ down these 3 Confluences, expect the 🐻Bear Market/ Bear Trend📉 to ACCELERATE 🩸!
And that will then Open the AVWAP Downside Targets🎯 as follows:
T1= 16400
T2= 15800
T3= 15300
Also these are the Very Same Downside Targets that I have been calling for when Nifty was trading at 18000 in the first week of Jan 2023.
In addition to all of this you would also notice my Elliot Wave marking for the B Wave false breakout to New Highs. We are in Wave C of a Bear Market presently.
Best,
Siddharth Bhansali
Comment:
Trade Not Yet Active since Price has still not broken below 16800
