Nifty will test 9200 level

NSE:NIFTY   Nifty 50 Index
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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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.
Comment: It was big bearish candle yesterday of 200 point consolidate our idea of nifty downtrend.
I will also see level nifty 9200
Your target might achieve in next 6 to 9 months but how many people take trade on the basis of technical analysis for such long period...During next 6 to 9 months market will swing many times in upward direction before it moved towards 9200 ( may be not)...risk reward is not at all favourable to take trade for target of 9200 at this time....
AnkitSalgia Aquarian27
@Aquarian27, This is just the bigger picture of nifty so trader are well aware of whats coming next.. As trading call got active today I will be updating short term targets frequently like I did today.
Ankit Great Work
AnkitSalgia r.sasiganapathy
@r.sasiganapathy, Thanks!!
AnkitSalgia r.sasiganapathy
@r.sasiganapathy, thanks!
Perfect Retracement and with Global GDPs are downgraded to less than 3 % to 2.5 % for three Qtrs ..

Recession Warnings have emerged for all Developed economies .So the Target of 8300 is very much Possible

Keep Updating with the channel Break out Charts

Great Job Keep Updateing
AnkitSalgia r.sasiganapathy
@r.sasiganapathy, very true.
wrong prediction.
+1 Reply
AnkitSalgia PredictNifty
@PredictNifty, what do you mean, can you explain? its not gonna happen overnight its gonna take time, the call is still active as stop is not triggered.
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