Nifty 50 (After-20/12/2022)
Updated
Analysis After 20th Dec 2022 Closing
Wave Count -
Nifty is in (5)th of 5th of IV Wave, means one more bullish movement is expected.
Also, strong supports are just below close of 20th Dec 2022.
1.38% Retracement of 3rd Wave in Small Cycle. (Orange)
2.Previous High support is just below 38% support.
Divergence -Bullish Divergence in 1 Hour time chart in MACD & RSI both.
View-Currently, Bullish from this point until 18100 level is not breach in Daily Timeframe.
Wave Count -
Nifty is in (5)th of 5th of IV Wave, means one more bullish movement is expected.
Also, strong supports are just below close of 20th Dec 2022.
1.38% Retracement of 3rd Wave in Small Cycle. (Orange)
2.Previous High support is just below 38% support.
Divergence -Bullish Divergence in 1 Hour time chart in MACD & RSI both.
View-Currently, Bullish from this point until 18100 level is not breach in Daily Timeframe.
Note
Took Support Yesterday on and Close almost on 18100.Now, if today market will not recover and survive above 18100,
According to wave count and its retracement further fall is expected till 17000.
Have A Good Day!!!
Note
Daily Timeframe,If Nifty close above 50% of yesterday's(26th Dec 2022)candle,
view will be bullish.
Note
furthermore, as shown in chart 50 to 68% of fibbo range is golden for reversal of trend.(Bullish)have A Good Day!!
Note
Confirmation of 5th Wave upside will after breakout of black resistance line shown in chart.Current View Bullish
Have A Good Day!!!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.