NSE:NIFTY   Nifty 50 Index
CHART LOOKS A BIT COMPLICATED BUT THERE IS LOT TO TELL HERE
1 - FIRST OF ALL ON WEEKLY CHART NIFTY FORM A HANGING MAN CANDLE WHICH IS A BEARISH SIGNAL ON TOP OF UPTREND
2 - NIFTY REMAINS IN CONGESTION PERIOD FOR 8-10 DAYS WHICH I RECON A DISTRIBUTION PHASE
3 - LAST WEEK VOLATILITY SUGGEST THERE IS CLIMAX OF DISTRIBUTION PHASE
4 - OPERATOR NEEDS TO EMPTY HIS WAREHOUSE AT THIS LEVEL SO NEEDS MORE BUYERS TO COME (WHO THINKS THE NIFTY CAN GO TO 11200 LEVEL FROM HERE)(MAYBE I M WRONG)
5 - VOLUME ON BEARISH CANDLES IN THIS CONGESTION PHASE IS VERY HIGH BUT THOSE ON BULLISH (LAST 2) COMPARATIVELY LOW
6 - PRICE SPREAD ON BEARISH CANDLES WHICH HAS HIGH VOLUME IS LOW THAN THE BULLISH CANDLE WHICH HAS AVERAGE VOLUE - ANOMALY
IT NEEDS EFFORT TO FILL THE GAP UPSIDE WHICH ISN'T THERE
5 - FOR MORE CONFIRMATION THERE IS DIVERGENCE ON THE OSCILLATORS
6 - CENTRAL PIVOT RANGE FOR COMING WEEK HAS THE SPREAD OF 102 POINTS WHICH MEANS THERE WILL BE LESS VOLATILITY THIS WEEK
THIS COULD BE A FAKE BREAK OUT ON 200 DMA
SO WAIT AND WATCH IS ALL WE CAN DO FOR NEXT FEW SESSIONS BUT DONT GO LONG NOW

Comments

Great review.. keep your good work
+1 Reply
Perfect view ...👍🏽
Reply
i m holding nifty put
Reply
VICKY4421 rksharma1091
@rksharma1091, r u sold put?
Reply
Nice Analysis
Reply
Good one
Reply
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