Market might be busy creating trap for traders looks like heading towards 10300.
Nifty is trading below the first support line and moving towards the next one and if closes below might
moves for lower levels around 10300-250 else bounce back from here.
This is my personal view, Feel free to share your opinion in the comments section.
Stay Alert! Invest Wisely!
NIFTY has been in trading sideways for many weeks now (since dec ) many small patterns on hourly and day chart formed in between which gave hope that correction will end ----however the consolidation continued frustrating many----NIFTY is now ready for an impulse -----the breakout or breakdown levels are marked by blue lines in the analysis ----aggressive...
A bearish flag formation is seen, will the upcoming elections and budget uncertainity lead to a downside breakout.
If it does it will lead to a downfall of around 700 points from the breakout.
This can be a good short for risky traders.
PS: Constructive criticism and opinions are appreciated.
Thank you!
#3
I leave this chart for educational purpose because I really didn't enter here but i definitely traded it in my demo acc.
Confluence 1: Formation of a perfect head and shoulder.
Confluence 2:Breakdown.
confluence 3: Retest with a decent bearish candle.
Stay humble.
Stay blessed.
Work hard.
#2 Being new to tradingview and not able to post previous chart when I entered long on the script, i will make sure I will keep uploading charts whenever i feel the set up is good.
Anyway, lets begin.
Why i entered? - "Well, the price has been on bearish trend. When the price before the entry tried to break the resistance but couldn't do it.
But later, when i...
But what is going to be the trigger , Elections? Coalition Government? Trump impeachment rumor?
Just a matter of one powerful bad news or rumor.
HNS neckline is at 10000, so if Nifty breaks 10500 support this time moves downwards, then more probable chances of 10000 break and completing HNS at 9000.
Just a view, no trade based on this.
It seems to be moving in an upwards channel pattern.
Support / Resistance marked on chart.
Looks like it will touch the upper RESISTANCE LEVEL (LIGHT BLUE LINE) and fall back.
It is important to understand that primary trends of stocks, bonds, and commodities are determined by the attitude of investors during unfolding of events in the business cycle. An understanding of the interrelationship of credit, equity, and commodity markets provides a useful framework for identifying major reversals in each.
MARKET MOVEMENTS AND BUSINESS...
10:00 Hrs - 21st Dec 2018
Last Price@10920
As suggested in the profile update before market hours- look for 10850-10860 zone for buying where CD leg of Gartley completes. Currently running down from 10960's - You need to check settings tab in "ideas stream" to get updates & ideas in time.
We are already 40 points down in D leg -selling from tops 10960's...
