Nifty is at a decission point where we have hope of moving up.
A straight line upward movement is the hope. But a next big target depends on the next big downmove.
If we try to understand the past and think that after 9 years Nifty will repeat the same trend ! Repeatation of 2010
So a down movement to 10450 level ( 10400 - 10550) , from the current movement, Gives us an target of ? Guess ! 12800 to 13000 + up movement.
Please check the chart !
So now we should be very careful and see if it is going to go down. We need to know if any news / sentiment / decission is going to come and bring the market completly down.
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Previous analysis If we see our previous analysis, we had predicted that the movement could touch the grand channel. Please check the previous posts to know the trend line (pink line) and the possibility.
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See how much nifty came down. So we can see the movement down as per our previous analysis of nifty forming H&S pattern.