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Dinesh_C_Nagpal
Oct 22, 2020 4:02 AM

Nifty & Bank Nifty Education

Nifty 50 IndexNSE

Description

Both Nifty & Bank Nifty are at an Ichimoku Price & Time axis equilibrium today with Nifty probability of a Double Top and Bank Nifty at a Bearish Harmonic Reciprocal AB=CD. Nifty has support at 11750 while Bank Nifty has support at 24650. Breach of both could lead to further downside till 11400 & 23000 respectively. View would negate above 12100 & 25200 accordingly.
Price & Time Axis Equilibrium is an Ichimoku concept of reversal in trend. As per the study Time is vital price is just a consequence
AB=CD are Harmonic Trading Patterns based on alignment of specific ratios

Comment

errata Bank Nifty support 24400
Comments
heeraamurugan
Sir expiry closing expectation ,if possible 11800
Dinesh_C_Nagpal
@heeraamurugan, Sir I am not an expiry trader, my view is for short term. However, 11850 appears to be good to hold for today as of now
vishnuchoudhari24
@Dinesh_C_Nagpal, sir what about monday market will it gap up or down.
Dinesh_C_Nagpal
@vishnuchoudhari24, a gap opening would totally depend on cues - global or domestic. We should focus on support/resistance
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