prashantnehete
Short

MArket May fall ! part -2

NSE:NIFTY   Nifty 50 Index
Refer to my earlier post of Nifty Weekly chart, please also refer this daily chart in which neutral candle stick patterns are getting formed and market is retraced at 38% level which is good resistance level also market is near black thick lines which are major resistance lines and one BLUE dotted lines which is also major resistance line.

Formation of such neutral candle stick patterns near 38% level and major resistances shows from this level trend reversal may be possible.

So please be careful for long positions. This post is for study purpose. Please share your views on the same.
Comment: Candlestick formed on 24th April is like Gravestone Doji.. If you want to know more about Gravestone Doji then please search in Google. You will come to know its importance.
Trade active: Hope you are Enjoying the fall!!

Comments

The Upmove of wave from 7512 to 9039 comes to 1527. This time the wave from 8056 + 1527 should complete at 9583 possibly. Only if extended to 123.6% then could hit 9970 which does not look possible.
Reply
prashantnehete Sidharth_Kr_Jain
Reply
Exactly I was expecting 9580 range for the reversal
Reply
prashantnehete Sidharth_Kr_Jain
@Sidharth_Kr_Jain, Yes you are correct. i am also waiting for that. Just want to save some people who put their hard earned money for long term investment in the market.
Reply
@

The closing in the 5 minute is approx 20 points higher than shown in the daily....would that change anything in the analysis you think ?
Reply
sssidhhh prashantnehete
@prashantnehete, thanks bro. Im a long term investor so put alot money. You saved me. So much respect for your all efforts.
Reply
@sssidhhh, Hi Bro.. Thanks for your comment. I am just sharing simple analysis just for study purpose. I may be wrong! but I just want to tell how simple the things are and how people gets trapped. Do you think is there any reason for market to go up? I mean any positive news or any invention of Corona virus vaccine etc.. Please share your views.
Reply
sssidhhh prashantnehete
@prashantnehete,
bro. actually icant predict as accurate as you,
but i can tip some reasons for down...
1. Foreign market SGX AND NASDAQ is down closed, so I can say this will give effect to us too a wave started so we are on the wave.
2. The oil market is down because most of the countries and a big part of industries running on it, this down means so all indutries will go down too. due to a circle.
3. Increaseing corona infacted numbering increasing in india, so lockdown will go long. so other downward too.
4. everything/market is weak already so chances are more for weaker instead of going stronger, because not a single news for strongness.

if im correct then. its great to work with you.
Reply
@sssidhhh, Good Observations. Its like technical analysis supported with macro economic parameters and fundamental things. Thanks for the same.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out