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Forecasting

NIFTY MAY GO UP TO 11250 AS IT SHOWS TREND REVERSAL PATTERN ? NIFTY50 may touch 11250 resistance in a short period of time , as its current position which is showing that it may be expecting a trend reversal in its way but then it may experience a sharp fall again up to As I took historical values from 2018-2019 I noticed that between ~R11200 t0 ~S10700 nifty had the tendency to either sharply fall or sharply rise. But as I close the gap b/w them nifty shows rather a chicken movement(~R10950 to ~S10700). 1. I used Price-Time mapping, Projecting and forecasting for both UP/DOWN movements. All 5 of them showed a common region of break out/in.] 2. Fibonacci retracement and projection also gave reversal zones similar for the S,R. 3. STOOCH-RSI for also generated a buying signal. (*though trend reversal zone at 15-20 *stooch) 4. Though MA, EMA shows downtrend( as nifty exits the 262-day uptrend) as the Bollinger. 5. Volatile ATR. **Also notice (8th/14th Aug F & o ) movements of NIFTY, Which also showing a strong change in favor of calls b/w 10900-11300. I found that Nifty may gain up to ~R11200 to 11250, then it will again face a trend reversal zone. As it already left the 262 days of UP trend, 'At that lv. it has less a probability to penetrate "Resistance" so it will enter again in the bear phase and this may go down to ~S11800 and ~S11750, Where, from ~S11850 onwards, starts strong "Supports". Using these parametres I projected the forecast of the Nifty, I tried to forecast weekly (21 days) of nifty movements and its zones. let me know if you agree or even you disagree.
NSE:NIFTYShort
by Subhadip_Sarkar