As we all know that nifty is at all time high. Do we have any pattern or indicator that can show us the path ahead?
No, as all indicators will surely show us overbought situation. And there is no harmonic pattern as well as price action has been stretched too far.
But, we have one thing left which is calculating harmonic levels manually.
This is the monthly chart in this idea now we have two calculations here :
1. There is previous fall of 4928 rupees and if we calculate 1.618 of this level we get lower red trendline which has already been breached.
2. Now after 1.618 level, next level we have in our harmonic study is 2.00 of 4928 . So, our next level will be 17394 approx.
good luck
Trade at your own risk derivatives trading is very risk and its all about timing.
No, as all indicators will surely show us overbought situation. And there is no harmonic pattern as well as price action has been stretched too far.
But, we have one thing left which is calculating harmonic levels manually.
This is the monthly chart in this idea now we have two calculations here :
1. There is previous fall of 4928 rupees and if we calculate 1.618 of this level we get lower red trendline which has already been breached.
2. Now after 1.618 level, next level we have in our harmonic study is 2.00 of 4928 . So, our next level will be 17394 approx.
good luck
Trade at your own risk derivatives trading is very risk and its all about timing.
Trade active:
nifty headed towards target