Nifty behaved exactly the way it was anticipated. A short-term dip, enough to get bears interested and create positions. And then bounced back sharply from close to anticipated supports at (11,750-11,800). I have drawn two rising channels on this chart, which I sense will now provide immediate resistances. Going ahead, I feel the index will face resistances from...
As per global market and our loan, India China tension, market seems to flow in negative tomorrow. So trade accordingly as per your convenience. All targets are given and i have provided only one resistance target which I don't think it also going to work.
1. MOVING AVERAGE CROSSOVER 2. TREND LINE BO 3. SUPPORT RESISTANCE 4. PRICE ACTION 5. SUPPLY AND DEMAND 6. BREAK OUT STRATEGY
It has made a Bearish Harmonic Bat in daily time frame. It could retrace till 1200/1175/1100 provided it does not start sustaining above 1270 once again. Harmonic Patterns are derived from Fibonacci Ratios when each angle of retracement aligns to confirm a reversal probability of 38-50-62 % of the existing trend.
SBI is trying to gain momentum above Gann 1x1 Angle. If it stays above, it will move toward Gann 2x1 Angle.