Pattern Break Level at 11914.25 In Weekly Time Frame.
as per calculation PCL' also 11913.70.
In DN move 1st Hurdle near 11601.
Near Bullish GAP at 11499.65 - 11486.45 (Treat as Strong Support).
Fut & Spot levels mentioned 7 plotted on chart.
Notice Premium in NF (+ 56.55 point) Near all time High.
Smart Investor / ........... may take arbitrage opportunity.
Nifty as per the analysis in the chart could be near a major reversal zone around 11900-11930. Most indicators are overbought and we can also see divergence in RSI. Advise traders and investors to stay cautious and trade with appropriate SL on all long trades. Chances of this happening in early September is very high.
CRUCIAL Tnd line for coming week 11590 - 11605 (treat as RESISTANCE).
before that 11581 strong hurdle.
Previously CLOSED below All the time (Except One Instance).
Choppy Trading Band: 11581 - 11543 (Spot)
Immidiate bullish Gap at 11500 - 11486, act as Support.
Closing Below Weakness comes.
.... rest detailed plotted on chart.
Mentioned Weekly Fut Levels upto...
In hourly chart, consolidation Ends with "DOJI"
In 4 hourly chart Last Candle "DOJI", before that long body Red Candle => Blue Body candle.
27945 looks Crucial.
.....rest levels mentioned on chart.
In Last trading day mentioned "28309 looks Crucial"
made High Near that level. Watch snapshot.
Is it really turned BULLISH?
Facing resistance on 50% fib retracement level @ 1175
Trade with cautious. So much hype is going around on
TV and NEWS
I am bearish on this scrip. Looking for SHORT below 1125 level
Triple TOP Formation (As of NOW)
#1. 27652.05 on 29/01/18
#2. 27613.5 on 01/02/18
#3. 27661.05 on 27/07/18
If Crossed Next Level
Should be 28178.09 Fib E 1.13.
If Reversed Crucial Level 26899.
Closing Below 26899 Confirmation.
Rest Detailed plotted in Chart.
..... more as Update.
I always wait for this kind of price action formation because its very simple and also very common pattern in the formation of HH HL, There is a Trendline acting as a support, Now I need a break of counter trendline to take a trade.