NSE:NIFTY   Nifty 50 Index
It is at the top end of its rising parallel channel. As per Ichimoku it is also at a Price & Time Axis reversal. An hourly close below 14525 would validate the reversal for 14250/13750. View would get negated if it gives a daily close above day high after triggering a down move.
Comment: short term traders can book here, else trail with 14550 on hourly basis
Comment: If 14350 sustains on hourly basis then we could expect a pullback. failure to hold it would mean no support till 14250 - the 1st expected target
Comment: 1st expected level achieved
Comment: Bearish C Clamp (Ichimoku Analysis) activated in daily time frame suggesting 13950 as the next level with 14450-14500 as a resistance now
Comment: An hourly close above today's high will negate downside. Sustaining below 14535 opens the passage for 14425 / 14350, below that 14200/13900

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Comments

Hi , still nifty didn't break the 14250 level, and it is consolidating at 14300 level, will it still continue the down side rally or will it make reversal form?
+1 Reply
Dinesh_C_Nagpal relievedGnu75683
@relievedGnu75683, now weakness below day's low else a bounce could be possible till 14375-14450
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Hi Dinesh,

The close wasn't above the daily high but there was a steep rise from the day's low. Do you think the view is already negated or is it still on?
+1 Reply
Dinesh_C_Nagpal ranjanalok0603
@ranjanalok0603, nope the view is not negated. With a weekly price and time equilibrium the view can only get negated on close above the high. Currently, an hourly close below 14525 would confirm this is just a bounce not a reversal.
+1 Reply
What do you mean by Price and Time reversal axis of ICHI ?
+1 Reply
Dinesh_C_Nagpal soodmittu123
@soodmittu123, Ichimoku is a study which measures both price and time of a trend. Based on it an equilibrium for both price and time has occurred.
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soodmittu123 soodmittu123
Still not clear how to see it on chart.
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how are you able to run the trend line from 9889 to 14660 and above? In btw it run tthrough day's high of 28, 29th July, 20. There's something wrong.
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Dinesh_C_Nagpal ankitnindra
@ankitnindra, NOPE. I have used LOG Scale and joined the highs and extended it accordingly. Also note a parallel channel does not mean it will touch and reverse, it could linger around it, test out of it but end of the day close inside it.
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Only billionaire can shart nifty in this bull market. Those who have plenty of money to loose some.
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