As I said, in my last analysis, nifty might be looking to reach into the monthly fair value gap at 21137.20, which means we can still see more bearish action from nifty in the coming days.
In case we might not fill the value gap this month, on the short term, we still have a one hour discount at 21589.35.
So for tomorrow nifty might move a little bit up to fill the fair value gap formed on the one hour chart and then start moving towards the one hour discount array at 21589.35.
I will be looking for shorts on the one minute chart as soon as nifty enters into the premium array above.
y not 21333-21234-21106 reversal that day itself and this week 9th Feb 2024 22234-22333-22486?
Ripul012
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@ahambrammaasmimuthoo I'm not sure I completely understand your question but from what I understand - Nifty reaching for 21333 and below within a short time is not probable. Nifty has an ATR of around 100 points. A stronger move might go 2-3 ATR but that is not a high probability condition, though it is entirely possible. My opinion is the move I indicated, in case Nifty makes that sharp of a move I will adjust accordingly to look for trades😁
ahambrammaasmimuthoo
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my side expecting that low then retail will fully turn to bearish and buy pe there ...one up move that up move may be new high also possible from there 22-33% fall possible my view...
Ripul012
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I see what you're saying and it makes complete sense. I'm thinking in more of intraday timeframes. Since I'm only looking for trades for tomorrow the move might be bearish. But yes we might get a new all time high after the drop and move up from the fair value gap at 21137.20
ahambrammaasmimuthoo
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good u r taking light weight notes...my view tomorrow NF opening itself -80-100 pts possible and 21555-21533 breaks tomorrow itself major fall possible...ketu natchathira...let us c in live also ...good luck dear
Ripul012
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good luck to you as well. I see a similar down move. will look to get in the move on a retracement back to the hourly fair value gap