NSE:NIFTY   Nifty 50 Index
Hello Friends,

I have tried here to analyse the upcoming move in the Nifty .
Which is highly influenced by the China India stand-off and the global factors.
The market is waiting for the good news to have the breakout above 11,800.
Before that market will face the high resistance at 11675 and 11800.
looking at the overall fibo movement since march, the market is moving sluggishly towards mid fibo level (12500), wich is very hard to break.
If we analyse the Nifty at short term fibo levels, mid fibo level is 11800.
While coming to this level one may observe the recovery but it is not the V-shape and market has formed the rising wadge sluggishly.
This time game has changed, the breakout above 11800 will stretch the market up to 13800 and this will be the dangerous level.
looking at the current GDP rate (-24) and expected GDP rate of 2021, a big crash is envisaged.
So between 11800 to 13800 kindly book profits and sit on cash.

Comments

We have seen the exact correction at 11675 as predicted. We can still observe how 11800 is the strong resistance after covering 11675. Let see how it will move further.
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter