Nifty will test 9200 level
The trend analysis done using few major support lines on daily chart , we are looked into major support/resistance trend line of market cycle trend, long term. Sensex channel has touched high value for all three channel, on 3rd June Sensex touched high value trend line (Resistance) continuing since 2009 and also touched high value uptrend running since Oct'18 and same for Feb'16. Since than it started downward movement and touched bottom of 1 channel in early July at 11,461 (touching bottom of its up trend continuing since Oct'18.), touched bottom of 2nd channel on 1st Aug. at 10,950 (of its up trend continuing since Feb’16.). If it break this 11850 level/ Support it will continue to 9,200.
Short position can be opened if 11850 level is broken by Nifty on closing basis, it means nifty has to close below 11,850 for opening short.
Trading Price 10,862
Target1 10100, Target2 9500, Target3 9200
Stop Loss 11,300
Do your own research and if this matching with mine then you are ready to go!
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Short position can be opened if 11850 level is broken by Nifty on closing basis, it means nifty has to close below 11,850 for opening short.
Trading Price 10,862
Target1 10100, Target2 9500, Target3 9200
Stop Loss 11,300
Do your own research and if this matching with mine then you are ready to go!
Please, take a second and support my effort by hitting the "LIKE" button, thats the only fee from You! And Follow me if you like my ideas.. Please check out other idea I published on stock, you will be amazed with targets I have given and achieved those with 95% accuracy till now.
Trade active
Today we have a close at 10918 which has broken our trend line support since Feb'16 ( as of today support was at 10,960). So the short call for nifty is Active now, if you want to wait for one confirmation, look for complete bearish candle below support line on daily chart.First short term target for Nifty is 10,600..
Stay tuned.
Note
It was big bearish candle yesterday of 200 point consolidate our idea of nifty downtrend.Trade active
Nifty has started getting downward force again.
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