, as its current position which is showing that it may be expecting a trend reversal in its way but then it may experience a sharp fall again up to As I took historical values from 2018-2019 I noticed that between ~R11200 t0 ~S10700 nifty had the tendency to either sharply fall or sharply rise. But as I close the gap b/w them nifty shows rather a chicken movement(~R10950 to ~S10700).
1. I used Price-Time mapping, Projecting and forecasting for both UP/DOWN movements. All 5 of them showed a common region of break out/in.]
2. and projection also gave reversal zones similar for the S,R.
3. STOOCH-RSI for also generated a buying signal. (*though trend reversal zone at 15-20 *stooch)
4. Though MA, shows downtrend( as nifty exits the 262-day uptrend) as the .
5. Volatile ATR.
**Also notice (8th/14th Aug F & o ) movements of NIFTY , Which also showing a strong change in favor of calls b/w 10900-11300.
I found that Nifty may gain up to ~R11200 to 11250, then it will again face a trend reversal zone. As it already left the 262 days of UP trend, 'At that lv. it has less a probability to penetrate "Resistance" so it will enter again in the bear phase and this may go down to ~S11800 and ~S11750, Where, from ~S11850 onwards, starts strong "Supports". Using these parametres I projected the forecast of the Nifty , I tried to forecast weekly (21 days) of nifty movements and its zones.
let me know if you agree or even you disagree.