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Correction

Entering into the Christmas Sale Weekly Expiry NIFTY50In this December month, we were blessed with five expiry dates. I would say that the last three expiry dates are like a roller coaster ride, highly volatile. We are entering our 4th week now, and it is a technically correction mode. Technically, a 10% drop from the recent high is referred to as a correction. Look at Nifty50 on Monday. It opened with a huge gap down and the panic selling happened because of the major levels where we know it was taken out. 17000 and 16700. This range is important because it is 10% from the recent high and also a fib range. After the range was broken, the NIFTY50 made a new week low near the 16400 level, then pulled back and closed above 16600.This kind of pull back kills aggressive traders. Tuesday opened with a near 0.96% gap up. Think about it! NIFTY50 as well as a strong rebound. It closed above 16700, so it looks good. In NIFTY50, we can expect the major levels to turn into resistance like Nifty did. Today, resistance is near 17950.We can expect the 17000 level to continue as resistance for the week, so I would be confident about selling at a strike price above 17200 on the downside of 16400 for a safe trade. Keep an eye on the daily candle as well. There is a doji candle . We can expect moments in both directions Make a decision accordingly.
NSE:NIFTY
by Manuadarsh
TECH MAHINDRA LONGCNXIT index crashed hard in past days Uptrend now begins in IT sector and so does in Tech Mahindra Tech Mahindra corrected 11.5% from ATH, consolidated for few days and now began a new uptrend from a strong support level. Enter at CMP with target levels @1475 (Added Tech M @1380 on 30th sept but forgot to publish idea then. Better late than never. 1475 levels can be seen anytime soon. Even more maybe) LIKE AND COMMENT WHAT YOU THINK ABOUT THIS FOLLOW FOR MORE SUCH AMAZING IDEAS.
NSE:TECHMLong
by Keshav2329
3
Mentorship InstaView 21 Oct’21: Banks Save the Day 
Nifty View: A decently volatile day for the benchmark Nifty50 index as it closed down a little over 60 points in today's session. So far, we have three consecutive negative days from the index, losing almost 3% on a high to low basis. The short-term trend is still up, but vulnerable as the index nears the psychological level of 18,000. However it was clearly the banking stocks which saved the day today. Banknifty index was up over 1% led by strong performance from stocks like Kotak Bank and ICICI Bank. Strategically, let's continue with the bullish bias and be careful especially if we are trying to trade mid and small cap stocks. It will be prudent if we focus more on the large gaps at this juncture in the market. Please watch the video for a detailed analysis of the index and stocks. Thank you for following my work and please feel free to share your thoughts and suggestions.         Trade Well. Trade Wise. 
NSE:NIFTY1!
0
by Abhijit_Paul
Nifty:WaveTalks-Bulls Yelling Excitement- The Gap Strategy!!! Bulls Yelling The Excitement- The Gap Strategy!!! When they come together, they are trying to tell you something. --------------------------------------------------------------------- 17950 – Critical Level: The Important Clue --------------------------------------------------------------------- From the last 2 ideas published at TradingView - Crossing above 17950 & not falling below 50 Period Moving Average provided dynamic support to the Index – an important pullback trading strategy that bulls use to participate in the bull run. 50 Period Moving Average shown as Flag Mark + Red Circle (Offered Dynamic Support) --------------------------------- Gaps Strategy --------------------------------- Gaps act as support & resistance which can be used as another trading strategy. Intraday today @ 19thOct2021. Gap 3 held as support & gave bounce from current day low @ 18400 to 18550+ which is currently in progress. -------------------------------- What Next? -------------------------------- Current Fall looks Impulsive in nature from the Highs of 18600’s in the opening session, If holds as resistance & falls below 18550(strictly) then Next dynamic support could be gap 3 once again & if it gets filled- 2nd support shall be close to 18275-18300 zone which is 50 periods moving average. If falls below 50 periods moving average Gap 2 & Gap 1 should act next supports. Thanks for reading!
NSE:NIFTYEducation
by WaveTalks
12
INDIGO TRADE SETUP FOR TOMORROWThere is strong resistance of 2051, stock two times rejected from this level. . Indigo share break the resistance and then now it is in the correction mode. . So for tomorrow you can buy this trade once it goes above 2051, for the target of 2140. . Note: There is also a news that domestic airlines will be restart from Monday so we can see this news effect on this share. . So we can see the gap up or good momentum in the morning and after the 12 maybe stock will do consolidation. . What's your view on this comment below in the box
NSE:INDIGOLong
by neerajlalwani081
US markets taking a pause?The price action formation on the SPX seems to be indicating that the market in the US could be taking a pause for now. Price had pulled back from all time highs recently, but now is seeing rejection from the 20EMA. If this trend continues we could see price correcting to the longer term trendline and then the 200EMA on the daily chart. A short position can be initiated keeping the following levels in mind. SHORT BELOW : 4346 STOP LOSS : 4420 TARGET 1 : 4272 TARGET 2 : 4198 _____________________________________________________________________________________________________________________________________________________ A similar formation is also evident on DJIA, indicating that this could be a market wide pause, something which could lead to a short term correction. If this scenario sustains, we could see this bearishness spill over to the Indian markets as well. _____________________________________________________________________________________________________________________________________________________ Manage risk properly and trade you plan. Like and follow for more. :)
TVC:SPXShort
by Tradeception_
Mentorship InstaView 20 Sept’21: For Bulls its Time to Slow Down
Nifty View: A sharp sell-off for the benchmark Nifty index in today’s trading session - down over 200 points to post a close at 17,386. With this fall, the short term trend is now on the verge of a reversal on the downside. Considering the nature of today’s fall, that is, both sectoral participation and momentum, it’ll be prudent to wait out for few more trading sessions to check if the index has more correction in store. The short term supports are nearby 17,300 and we can expect a short term bounce from close to this level. But it’ll be the next movement which define the overall trend of the index from a medium term perspective. Watch the video for a much detailed index and sectoral analysis. Thank you for following my work and please feel free to share your thoughts and suggestions.         Trade Well. Trade Wise. 
NSE:NIFTY1!
by Abhijit_Paul
TRB will bounce back good for sure after BTC correction is overUsed Gann Fan and Fib to check it's uptrend areas and how smooth it will go as per trend. Perfect time to buy this one in the dip. Further dip will be coming and will end by tomorrow morning. So yeah buy in parts and average your trade position accordingly to have a smooth profit journey when trend is back on it's course. Seems like a good opportunity to me in this dip Not a Financial advice though. Do your own research before buying. These are my own views as per my trade strategy. Learn and Earn. Cheers & Happy trading peeps....
Long
by DoNotTrustMe
20 & 50 Weekly Moving Average CrossoverThis is a weekly chart of BTCusd, bitfinix. I've plotted 2 Weekly Moving averages (w-MA) on this chart - 20(Green) & 50 (red). As you all can see clearly that whenever in the past 50 w-MA crosses 20 w-MA and comes above it, we've seen an average of 50-70% correction in btc. So according to past data, if again 50 w-MA comes above 20 w-MA, i'm expecting a correction of atleast 50% in the BTC. This is what my TA is saying. P.S. - This is for educational purpose only. #NFA #DYOR
BITFINEX:BTCUSD
by Rajat9772
Nifty Elliott Wave Analysis - Bear Market Since making a panic bottom in March 2020, Indian Markets, along with rest of the globe, have rallied in an impulsive fashion. The entire up move can be plotted as a five wave impulsive structure. The wave counts here also coincide with the prevailing social mood and the level of broader participation which has progressively increased with every successive up move. Markets are nothing but reflection of the social mood in price and the wave analysis captures this behavioral aspect of financial markets. Nifty found a strong resistance at the Fibonacci level of 161.8% inverse retracement of the immediately preceding fall. Generally, this Fibonacci level is where we see major reversal but nonetheless markets overshot this level. Since Feb. 2021, various inter market divergences started developing specifically with respect to other emerging markets, dollar, Gold etc. We at Milestone believe this entire rise from March 2020 bottom is complete and we are now entering a correction that we expect to be at least 50% retracement of the whole rise. We have been warning of an imminent fall in the markets since 4th of August to our students at Milestone. We have witnessed that bear trend in Midcaps and Smallcaps which represent the broad market health but it was just a matter of time before we witnessed the same in the Largecaps and the the benchmark indices. Be prepared for what is coming.
NSE:NIFTYShort
by MilestoneCapital