Nifty: Was I lucky, was it a fluke or was it a reward for study?
Yesterday night, I had put forth an analysis where I had suggested that not expecting a big down day closing today.
Remember that
- Dow was down 300 points
- Asian markets were down
but I had clearly written that this is not about world markets. With FIIs in holiday mood, our Nifty movement will depend on the battle between retail traders and Pro traders.
My expectation based on study was Nifty likely to close higher towards 18155 / 18181 / 18233 (those have been highlighted) in yesterday's analysis.
Nifty after opening gap down traded at the lower end of the channel till 1 pm. 15 minute candle closing low was 18003 and once it came back above 18011 and sustained, we suggested taking a Long trade at 18017... again it is there in the timeline...
Once it broke past 18048 it raced towards the upper end of the channel making a high of 18229 (Broader range given 18233) and then eventually closing the day at 18191 (just 10 points adrift from 18181 level). Not bad I guess....
All the levels identified through analysis have been respected...
You can call it a fluke... you can call it a Lucky bouy guess
or you can acknowledge that the study paid for the efforts put in...
Hope the analysis helped you too. If not, I cant help it. Can't be more precise than this...🤷♂️
Take care & safe trading...!!!
To trade with me Do hit the Like button and Follow
Remember that
- Dow was down 300 points
- Asian markets were down
but I had clearly written that this is not about world markets. With FIIs in holiday mood, our Nifty movement will depend on the battle between retail traders and Pro traders.
My expectation based on study was Nifty likely to close higher towards 18155 / 18181 / 18233 (those have been highlighted) in yesterday's analysis.
Nifty after opening gap down traded at the lower end of the channel till 1 pm. 15 minute candle closing low was 18003 and once it came back above 18011 and sustained, we suggested taking a Long trade at 18017... again it is there in the timeline...
Once it broke past 18048 it raced towards the upper end of the channel making a high of 18229 (Broader range given 18233) and then eventually closing the day at 18191 (just 10 points adrift from 18181 level). Not bad I guess....
All the levels identified through analysis have been respected...
You can call it a fluke... you can call it a Lucky bouy guess
or you can acknowledge that the study paid for the efforts put in...
Hope the analysis helped you too. If not, I cant help it. Can't be more precise than this...🤷♂️
Take care & safe trading...!!!
To trade with me Do hit the Like button and Follow
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.