Hello everyone, first of all, thank you for all the support and comments. It's not possible to reply to everybody's private messages, so in case I am late or couldn't give a reply, please do not mind. Coming to analysis :- The chart looks bearish and once it breaks the box/consolidation phase, then we can see further fall towards the median line of 2nd...
fundamnetally NegATIVE TO NEUTRAL (SHORT TERM/6 MONTH) TECHNICALLY on levels looks weak and can slide further invalid if 2850 /2900 kicks out and sustain long term buy beautiful at 1450 to 1600 bracket
Wn we will cls abv 160 thn start (A) Now strong spt 114 closing basis If we will cls blw 114 thn will again changes frm (D)
It has activated an Ichimoku C Clamp in higher time frame and hourly is indicating a possibility of a fresh breakout. It could retrace till 15500 provided it does not go below 13250
It has reversed from a Bearish Harmonic Deep Crab which also coincides with a Weekly Ichimoku resistance. It could retest 540/515 if it fails to sustain above 580
It is attempting a breakout as per Ichimoku in hourly time frame, which also happens to be a weekly resistance. If it manages to give an hourly close above 335 then it could test 370 and above that 425. View would negate below 315
ALREADY POSTED MONTHLY CHART *IF BREAKS R1 IT WILL GO UP TO R2 *DAILY FIB RETRACING LEVEL 61.8 AS A STRONG RESISTANCE
IF BREAKES R1 THEN WE EXPECTED R2 & FIB RETRACING AREA 61.8% WORKING AS A STRONG RESISTANCE
* IN SUPPLY ZONE AS EXPECTED NIFTY FALL AGAIN * IF CLOSE DAILY CANDLE ABOVE SUPPLY ZONE THEN EXPECTED UPTREND