Nifty spot good short candidate

NSE:NIFTY   Nifty 50 Index
Nifty Spot CMP 13000
Elliot wave Study :- Impulse phase is on verge to mature, and if Corrective phase unfold for this whole impulse swing we might see some retracement in coming 1-3 month ,, price wise which can be 0.236% to 0.50% of this whole swing.. more details mentioned on chart..
RSI Divergence :- In last wave of impulse phase , price is making higher high where RSI is making lower high,, Bearish divergence ,, indicated soon the wave is on verge to mature..
Trend line :- At the moment index is trading around Major resistance line which is respected for the whole swing.
Chart Pattern :- In last wave of this impulse phase , rising parallel channel formation and rounding top formation are seen,, details on chart..


In indian market no technicals no fundamentals.all decided by fii. If withdrawal comes from fii nobody can decide the technical levels.within nine months our indian economy gets stronger than post corona period.7500 to 13145. In 9 months by pouring 60000 crores by fii. In this if 50 percent of money withdraw by fii nifty will be around 10500. No technicals work.
+5 Reply
RUDRA007 ssindhu65
@ssindhu65, NOTED
+1 Reply
Thank you much for this useful knowledge
As per the latest data, FII are still heavily long in the index. The shorts are mostly by retail. Not surprised if retail will be again trapped.
Very interesting. Thank you for sharing
@SSMann, thanks
Really appreciate the effort, thank you.
RUDRA007 Sai_1995
@Sai_1995, thanks
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