Nifty is probably forming a pole and pennant/ Flag formation, it may remain few days in pennants. If it comes true, the expiry will be around 11700,may be with a breakout from the pennant. The pole can give a huge target for another 1000 points on break out.
This is just for sharing an idea for the forthcoming opportunities, expecting more logical and wonderful ideas from others, and shall not be taken as any prediction.
Some important support & Resistance levels marked in the chart.
RES: 11718 is an Hal yearly pivot AND Falling TL resist near 11700 &11772 again a Gap above.
SUPP: 11471,11453, 11382 & 11303
Out of subject,
But need to address few issues I am facing here.
Welcome all discussions, while I humbly understand my limitation.If any one mistaken from my style and language, I regret I am not a stock pundit or not in any sales or business. I am Just one among you. So please do not ask for, or expect any trading strategy or market level.
We do not argue with the market ever or cannot claim a firm level or direction of market, since “The market is supreme”. Only the market knows the next move. So all musings here shall be taken as warning levels only. Just mentioning it here again for the completeness of our Discussion.
Some friends were asking for October Nifty Levels and some others were asking for deep short position below 10627. The level we are assuming here based on price movements only. All other indicators are lagging and not useful to predict market. Levels reaches in stages, while some of them shows a strong support and make a turn around.
That is why I was telling 11485 as support, in the binging of fall from 12103 and then on break of that level we were expecting 10585,and nifty came very close to that, then rebound.10627 was a good support but pattern wasn’t completed there. But again at 10670 it was showing some kind of support and the pattern also showing completion as posted earlier.
All my posts are just one out of many possibilities laying ahead in the supreme market.
Take it as simple as that.
Thank you All.
This is just for sharing an idea for the forthcoming opportunities, expecting more logical and wonderful ideas from others, and shall not be taken as any prediction.
Some important support & Resistance levels marked in the chart.
RES: 11718 is an Hal yearly pivot AND Falling TL resist near 11700 &11772 again a Gap above.
SUPP: 11471,11453, 11382 & 11303
Out of subject,
But need to address few issues I am facing here.
Welcome all discussions, while I humbly understand my limitation.If any one mistaken from my style and language, I regret I am not a stock pundit or not in any sales or business. I am Just one among you. So please do not ask for, or expect any trading strategy or market level.
We do not argue with the market ever or cannot claim a firm level or direction of market, since “The market is supreme”. Only the market knows the next move. So all musings here shall be taken as warning levels only. Just mentioning it here again for the completeness of our Discussion.
Some friends were asking for October Nifty Levels and some others were asking for deep short position below 10627. The level we are assuming here based on price movements only. All other indicators are lagging and not useful to predict market. Levels reaches in stages, while some of them shows a strong support and make a turn around.
That is why I was telling 11485 as support, in the binging of fall from 12103 and then on break of that level we were expecting 10585,and nifty came very close to that, then rebound.10627 was a good support but pattern wasn’t completed there. But again at 10670 it was showing some kind of support and the pattern also showing completion as posted earlier.
All my posts are just one out of many possibilities laying ahead in the supreme market.
Take it as simple as that.
Thank you All.