#Nifty Trade Setup For Friday (19th March)Two Times Nifty Touched 14500, then it reversed,
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You see in the chart that there is Gapup that Nifty Made in the February.
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So if tomorrow Nifty break 14500, maybe Nifty fill that Gapup.
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After it can reverse.
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Nifty is weak so you can Buy PE on safe side on around 14450.
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If Nifty goes up, then we will wait for the right time buy PE
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You can give your suggestions in comment box
Gapup
MGL, Long above 1060 for target of 1230Range 1060-1080 is very important range, Prince has taken multiple resistance here and also broke out earlier once.
On 27th Nov, MGL made a big gap up and closed with a bullish candle with volumes. It has been consolidating since, once price moves above 1060-1080, we can go long with stoploss of 1020
Initial Target would be previous highs 1230
Gap up Trading - How to Trade the Gaps - Part 1Om Namah Shivay
Brothers, Let us discuss on "How to Trade the Gaps" - ( part 1 )
During the trade progression, many gaps happen. There is no hard and first rule to restict them based on count, or based on where gap can happen / where it can not happen.
There is nothing like that. Gaps can happen anywhere during the trend.
Say we want to categorize them, then they can be categorized as 3 types
1. Break Away Gaps - these happen during the initial stage of the trend. ( Check image )
There can be 1/2 Gaps which give thurst to the new trend direction. Again to say - In Market gaps may happen daily. We may not say that there is only one gap which is the type 1 gap. Just we can categorize them that they are the starting gap ups, so are break away gaps. They can be 1 / 2.
2. Measuring Gaps - these happen during the middle stage of the trend ( Check image )
There can be many measuring gaps. Gaps Can be happen daily too. They are told as Run Away Gaps too. They give additinal thurst to the Trend.
3. Exhaustation Gap - these happen during the end stage of the trend. ( Check image )
( showing low volume ? slowing down impulsive move ? we will check in part 2)
Then ? Just Exhaustation gap came so trend is not going to end. Trend continues. May be another trend which adds to initial one. And other possibilities.
This is part 1 of the series. We will learn more in part 2 base on reader likes.
Om Namah Shivay
Gann AnalysisMonday's scenario -
Flat > It has breached 8/1 Gann level which will act as support and the target could be 1/4 level which will act as resistance.
Gap-up > It could face resistance at 1/4 Gann level and come down.
Gap-down > It may lead to fall upto 1/8 level hence after that we may see a quick reversal.
Infosys Short Trade Nifty IT has seen a major bull run since past week & now rally is expected to halt on the backdrop of profit bookings.
1. Infy Gapup opening today on positive results.
2. Created a new resistance level near 933-934.
3. Fall to 78.6% Fibonacci retracement levels observed today.
4. Further correction to 50% level is possible since large gap supposed to be filled out.
Sell on CMP.
Target 1: 891
Target 2: 874 on further correction.
SL: 935
Nifty Intraday Gap up or Gap Down..Now nifty currently in symmetric triangle patterin in 5 Mins time frame.
Either it should break out up ward or down ward.
There are 2 Scenarios.
1) If Nifty Gap up and break out the level of Previous day high @ 10836 it will target the level of 10880
2) If Nifty Gap Down and Break out the level of Previous day low @ 10713 it will target the next support level @ 10630 Level
Kindly hit like if you like my analysis and comment me in the comment box






















