NIFTY -- WEEKLY CHART --FINDING BOTTOM
1. well recent sharp fall of nifty from recent higher level around 18100 to 16200 Sub level seen on chart as nifty form lower high and lower low channel
2. AS per this channel try to following the same nifty has broken support 16800 then next support comes to 15800 Where earlier nifty was bottom out and Bounce back This support will be tested agian if some fall further due to negative global and local sentiments
3. following the channel if this support broken then channel showing the support at 15000 where i find most probable bottom formation at worst negative sentiments
4. so idea is if one has mid, ling term investment view .. USE SIP method at every gap down 100-200 points if fall further till this 15000-15500. for better output in keeping view of 6 month - 1 year time from now onward.
** THIS IDEA IS FOR EDUCATIONAL PURPOSE ..
HAPPY TRADING !!
1. well recent sharp fall of nifty from recent higher level around 18100 to 16200 Sub level seen on chart as nifty form lower high and lower low channel
2. AS per this channel try to following the same nifty has broken support 16800 then next support comes to 15800 Where earlier nifty was bottom out and Bounce back This support will be tested agian if some fall further due to negative global and local sentiments
3. following the channel if this support broken then channel showing the support at 15000 where i find most probable bottom formation at worst negative sentiments
4. so idea is if one has mid, ling term investment view .. USE SIP method at every gap down 100-200 points if fall further till this 15000-15500. for better output in keeping view of 6 month - 1 year time from now onward.
** THIS IDEA IS FOR EDUCATIONAL PURPOSE ..
HAPPY TRADING !!
Comment:
i mean to say mid-long term view , is good from here rather then short term view because as global cues are still not good and RBI policy About rate hike , higher inflation this local cues are also taken negative, as per nifty channel followed till now next fall at max towards 15000 still highly possible IF 15800 broken. after this sharp correction nifty anyways bounce back at some time and those who start invest at SIP from this level will sure profitable in 6 month - 1year time becouse most of good stoks corrected at this point of time near about 30-40% from high.
Comment:
nifty toda'ys touch 15850 level close to 15800 Support now, 10.55 am -- 12/05/2022