NIFTY OUTLOOK

Nifty is no doubt giving a fantastic rally even with minimum participation from FPI's. Definitely a certain percentage of Retail Investors are afraid to participate in this rally, But all they have collected is few peanuts by turning into bears in the due course of time. Now let's keep Bulls and bears aside. As an opportunist we all shall be always alert with the possible reversal levels and time cycles.

The first level that is see could be a small hindrance is 15860 to 15880. This is a Gann level of the Wave 4th of the Impulse and the Sub 2nd Wave of the 5th Wave. We can wait for any reversal at that level or simply may be we could see a removal of weak hands at that level.

The second level is a fibonacci retracements cluster of Wave 4th of the Impulse and the Sub 2nd Wave of the 5th Wave and that comes to be around 16220. Mark this as a very important level. 22nd June is the timecycle representing the expected high date.

So the basic expectation from the chart is 16220 by 22 JUN 2021 (More or less in term of time or price)

CHART AND ANALYSIS BY - ADARSH DEY

Nifty is still in a wolfe Wave and the chart was updated on 27/4/2021

Comment:

As mentioned earlier "The first level that is see could be a small hindrance is 15860 to 15880. This is a Gann level of the Wave 4th of the Impulse and the Sub 2nd Wave of the 5th Wave. We can wait for any reversal at that level or simply may be we could see a removal of weak hands at that level"
The reversal has been seen. Now need to find reversal signs before going long.

Comment:

Nifty is still now in the consolidation phase of 15880-15570 as mentioned months ago. Still now the target of 16200 is pending and that is only possible, when Nifty breaks above 15880 and trades continuously for 3 days

Comment:

Broked out and near the target

Comment:

Target done