Nifty -VSA Study-Pullback to Stage-3 or Continue to Stage-4

Education

S&P CNX NIFTY INDEX FUTURES (NSE:NIFTY1!)

NSE:NIFTY1! S&P CNX NIFTY INDEX FUTURES

trendanalysis vsa nifty

General Study

Nifty has already tested 0.382 retracement level.
In most of scenarios where healthy retracement is needed, 0.50 retracement is very common and usual.
And in that case, price bounces from 0.382 first, then again come back to test 0.50 value area.
Wherever a deeper retracement is needed it even test 0.618 value area too but it is not most often like 0.5 and 0.382.
In current scenario, Nifty has already tested 0.382 and even given a bounce up from there.
Now, let's close eye on it to see if it backs to good retracements or continues from here.

VSA Study

Nifty was clearly in Stage-3 since long time
It has kissed upper boundary thrice but has not broken-out for Stage-2.
Now, it has broken down the Stage-3 lower boundary and seems moving towards Stage-4
Let's see if backs to Stage3 (as we have studied on 1 Hour TF chart and on Daily TF chart, still it is at the edge of Stage-3.

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