To All Members , Nifty is Currently Trading on A Long Term Channel Break-Out ... Wear Your Seat Belts And Enjoy the Rally ... It's A Start of New Impulse ... Don't Miss It ... One Mystery : What is My Assumption Behind Deriving Longer Term Targets ??? Whoever Gets It's Right Answer , Will Get Rewarded And Can Connect To me Personally ... Hint : There Are Mainly 5 Assumptions We read In Technical Analysis ... Good Luck !!!
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Find the Mystery ...
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Rally Extends ... Nifty Gains 75 Points ... :)
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And the Bull is Running ... 150 Points Rally So Far ... :)
Sir,
g Nifty reached 10490 and followed by formed A, B, C flat pattern formed. Now probably the wave started once again and the target is 10615 (1.270) followed by next target appears at 10773 (1.618) and if it extends further the next trg will be at 11230 (2.618).
Thank you.
@kbmj, hello sir, I am trying to guess the assumptions here, 1st assumption in TA - once a trend is established , it ll continue for indefinite period of time, unless until a strong opposing force brings the reversal in the trend
2nd assumption - once price lands in all time high zone, there are not a single trader stuck in higher levels, who are desperate to sell on rise, so selling force gets weak.
3rd assumption - in an uptrend , many traders wait and watch for a dip to enter and ride the trend. So when price starts retracing current up move, those traders jump in, and eventually price gets pushed beyond the previous high, So higher high and higher low forms (Dow theory).
Mohit_Jangir
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@ParamjitMahapatro, Impressive !!! Main Assumption is missing ... Good Luck ... :)
ParamjitMahapatro
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@kbmj, main assumption is - price discounts everything.
Mohit_Jangir
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@ParamjitMahapatro, You are A Little Right but Main Assumption is "History keeps repeating itself ."
g Nifty reached 10490 and followed by formed A, B, C flat pattern formed. Now probably the wave started once again and the target is 10615 (1.270) followed by next target appears at 10773 (1.618) and if it extends further the next trg will be at 11230 (2.618).
Thank you.