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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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
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.
soodmittu123 soodmittu123
Still not clear how to see it on chart.
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.
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.
Only billionaire can shart nifty in this bull market. Those who have plenty of money to loose some.
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