Nifty Prediction April 2022 with Volumes
Nifty Prediction April 2022
NOTE: I have used nifty futures continous to analyse the markets better, it has a slight difference with what is occuring or had occured with the real index.
Nifty has closed 1.18% higher than previous day, and it had consolidated for more week with huge volatility and on 1st of April it gave a breakout and formed an engulfing candle in daily time frame, nifty in the current trend is making going high but even consolidationg along the way.
This may result in a rally to the all time high, last time from 20Dec to 18Jan it gave a rally without any consolidation and at about 18400 that is about 100pts from all time high fell drastically from there and it even created a low of 15800 because of other factors like war, US interest rate, oil and nickel prices hike, the downtrend ended and created an engulfing candle and started closing above the point of control of the all time high journey, later on 14th and 15th March it sustained the low volume node and started closing above it. From 17th April to 29th April consolidated at the points of control of the previous downtrend and the downtrend of the all time high. From the last 3 trading sessions market sustained above the points of control, now the market is kind of in a dilemma as the market made a move in the last over of April 1st, the market closed above 17650 which is regarded as the low volume node which should have bought a reversal in the market, but it formed an engulfing candle with very low volatility on the lower time frames compared to the previous sessions, that further indicates that if there's no gaps the next week the market can go up to 17900 easily. When market closes above 17900 it would start consolidating and a tight rally will start with no volatility, candles will close with low bodies and wigs, which is not the best time to do option buying and option sellers and people with short stradles will make the most money.Further going there is the most impotant level of 18000 which is also psychological level from then the market may get difficult to predict. Further there is an low volume node at 18140 where the market may get a good reversal of 100 to 150 points but the lows created will not be sustained and cover ups may occur. 18400 is the low volume level which when tested on 18Jan resulted in a down trend which is the most important disturbance for all time high.
All time high will be broken sooner or later but we should think before the all time high journey market became side ways for 60+ trading sessions so along the way consolidation is also expected.
NOTE: I have used nifty futures continous to analyse the markets better, it has a slight difference with what is occuring or had occured with the real index.
Nifty has closed 1.18% higher than previous day, and it had consolidated for more week with huge volatility and on 1st of April it gave a breakout and formed an engulfing candle in daily time frame, nifty in the current trend is making going high but even consolidationg along the way.
This may result in a rally to the all time high, last time from 20Dec to 18Jan it gave a rally without any consolidation and at about 18400 that is about 100pts from all time high fell drastically from there and it even created a low of 15800 because of other factors like war, US interest rate, oil and nickel prices hike, the downtrend ended and created an engulfing candle and started closing above the point of control of the all time high journey, later on 14th and 15th March it sustained the low volume node and started closing above it. From 17th April to 29th April consolidated at the points of control of the previous downtrend and the downtrend of the all time high. From the last 3 trading sessions market sustained above the points of control, now the market is kind of in a dilemma as the market made a move in the last over of April 1st, the market closed above 17650 which is regarded as the low volume node which should have bought a reversal in the market, but it formed an engulfing candle with very low volatility on the lower time frames compared to the previous sessions, that further indicates that if there's no gaps the next week the market can go up to 17900 easily. When market closes above 17900 it would start consolidating and a tight rally will start with no volatility, candles will close with low bodies and wigs, which is not the best time to do option buying and option sellers and people with short stradles will make the most money.Further going there is the most impotant level of 18000 which is also psychological level from then the market may get difficult to predict. Further there is an low volume node at 18140 where the market may get a good reversal of 100 to 150 points but the lows created will not be sustained and cover ups may occur. 18400 is the low volume level which when tested on 18Jan resulted in a down trend which is the most important disturbance for all time high.
All time high will be broken sooner or later but we should think before the all time high journey market became side ways for 60+ trading sessions so along the way consolidation is also expected.
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