Kinnari_Prajapati

nifty levels for reversal from channel.

NSE:NIFTY   Nifty 50 Index
Events and reaction:
  • coronavirus infection in China
  • co-relationship of global markets

Technically, the channel is strong and support is at 10945 and 10740.

I've also added TimeCycle to find date of reversal.

Comments

Global Markets including Nifty are expected to recover by about 600 points before re-commencing their downward journey. The reversal has taken place today (maybe it started yesterday but we sold off). Event wise it is because of central banks deciding on rate cut to infuse liquidity. The conference will be today and announcement perhaps by Wednesday. This will rejuvenate the markets to start the next leg of the fall.
+6 Reply
@sanketsudan, You are perfect. I am still not on bullish side. Let wait.
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@sanketsudan, Thank for comment. Your comment always having valuable information.
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pravinperiwal sanketsudan
@sanketsudan, could not agree more Sir. Such a simple yet powerful fact.
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Tatpati sanketsudan
@sanketsudan, I just about saw this elsewhere - Fed cuts rate by 0.5% dow -200 se +200 points up
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Just so to clear it, u r expecting first reversal from level 10950 and around end of March and stronger support lies at 10740 at beginning of April right mam ?
+3 Reply
@Zeeshann, I am not waiting for 10740. I am just waiting big fall intraday and recover for any future day.
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Zeeshann Kinnari_Prajapati
@Kinnari_Prajapati, ok so basically u will buy nifty if anyday from here it falls big am I right ?
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ssindhu65 Kinnari_Prajapati
@Kinnari_Prajapati, today it happens mam.so brilliant.
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Mam I buy Marico 20 share at price 302 can it's ok to be average in this stock?
+1 Reply