WaveTalks - Nifty - Double Click or Double Divergence at 16590

NSE:NIFTY   Nifty 50 Index
Educational Idea talking about reversal candlestick pattern - Tower Top & Double Divergence at the tops could be halting the bullish moves. Once we get follow up going below 16475 immediately- It could have bearish bias for the days / weeks to come ahead.
Important Support Levels - 16160 / 15800-15900 / 15500

Thanks for watching the video.
Comment: 14:59 Hrs / 17th Aug2021

Hello All,

Have suggested 16475 as important level in the main update which is the key level & Index should fall below 16475 to confirm the bearish bias.

Today, Index dropped close to 16475 - made low at 16495 just 20 points above so we did not get the confirmation as suggested.

Plan your trades watching these key levels. Thanks
Trade active: 21:26 Hrs / 17th Aug 2021

Hello All,

Got one more key level from today's price action & market update as mentioned below

Break of these 2 levels will be a higher probability of making the top at 16628.55

Shall review in next few days if Index falls below 16475 & slips to 16162 support as suggested in the main update. Thanks
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle

Telegram Handle


thanks for the idea !
can you help all of us with the time line for the targets you mentioned !
thanks in advance !
+1 Reply
AbhishekHSinghCMT RishabhGandhi250218
@RishabhGandhi250218, Suggesting anything for time is the most complex question as it belongs to another dimension / price analysis is another dimension. So, I am afraid that I can't answer your question about the time line. If you are using Elliott wave analysis then you may know timing about corrections which will unfold cannot be commented. So, we try to get directions using price levels only.
Thank you so much sir for nice idea. Have a great week ahead.
+1 Reply
I have observed your analysis for over a year now. Sometimes your targets do not come immediately, but almost always they are achieved sooner or later. The good thing is, you provide very clear levels, so unless someone goes short or long before the levels you gave, there is no way of losing money in the trades you give.
+1 Reply
great analysis sir!!
+1 Reply
Very interesting and good analysis sir ji. Will help in trading for small retail investors... thanks a lot..
+1 Reply
Great as always
+1 Reply
Hi, pls do share an update on this basis the Friday market closing. Thanks
Thank you