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Nifty IT Medium term viewWe are looking at a 8 year Nifty IT chart Lets see what the chart is trying to tell us... - Between 2009 to 2015 the price has risen from 1933 levels to 12908 levels - Since Jan 2009 till March 2015 the index has been making higher top higher bottom - It is only after March 2015 that the index is seen making lower top lower bottom on a regular basis Hence applying Fibonacci retracement level on the entire Bull cycle seen in NIFTY IT since Jan 2009 to March 2015 (roughly 75 months) - It is further observed that since 2015 Price is trading in a Downtrend channel - Blue trend line drawn from 2009 lows looks likely to be the Laxman Rekha (Make or Break line) 2 likely scenarios have been charted out... Eventual target for NIFTY IT-8750-8600 zone which is 38.2% retracement level of the entire rise from 1933 levels to 12908 levels - Time wise 38.2% of 75 months is 29 months giving us time till Sept 2017 - Channel support around Sept-Oct 2017 comes at 8750 levels Things that one should consider before initiating a trade - this is a medium term 6 months view - Wait for the levels to come - allow price behavior around key levels discussed in the chart to give further confirmation - Understand the Risk involved & Reward potential - Plan your trade accordingly ____________________________________________________________________________ "Be sure you put your feet in the right place, then stand firm." - Abraham Lincoln ____________________________________________________________________________ Take care and safe trading...!!!
NSE:CNXITShort
by indiamarketoutlook
Nifty - Will buy-on-dips strategy work this time?Will buy-on-dips strategy work this time? This is the best setups for bulls - buying on dips and a jhat-pat trade. The resistance turns support at 8,970 (pink line) will be crucial for bears to break. The recent rally in the range of 9,000-9,200 seems to be disheartened for bulls. The rangebound session with index being firm above 9K express positive yearly settlement for traders. The move from 1st week of April will be the trend decider. RSI has broken previous two swing lows while the negative crossover on Stochastic hints the failure of buy-on-dips strategy this time. But the confirmation will only be below the pink line. The move above the fresh highs will negate the setup.
NSE:NIFTYShort
by bbrijesh
3
Nifty Potential Buy Setup!!Nifty has corrected around 50 to 61.8% Fib Levels for previous upmove. Once the Price Breaks out above 8110 Nifty gives a Buying Opportunity for the C wave up move towards 8400. I will be buying Nifty @ breakout above 8110 with stoploss below 7980 for Target of 8370/8400. If the price continues to go lower below 7920 and make new lows then the above analysis would stand wrong and Nifty probably is making some other pattern which needs further analysis.
NSE:NIFTYLong
by SirajHudda
Nifty- Let us solve the puzzle above 8210-Wave (2) continues..Last week was a hectic schedule for the official presentation -so could not answer most the guys. Let us solve the puzzle. Excited to see the way it is developing- going above 8210- larger wave-(2) will continue & shall give us y-wave to finish this larger corrective sequence- wave-(2). The depth of the wave cannot be determined in current state & its shape but we will move as the market moves. Going above 8210 -key level in upcoming session- This wave will extend & can go even beyond 8600 because ((x))-wave extended below the origin of ((w)) -wave which was 8002. 2 features clients could use - Every previous chart will have load bar facility shown at the right side as arrow -which can be clicked to see how analyst prediction went & how correct he was in his analysis. -In new & current analysis -one can use the alarm feature which is present in the update name so that one can keep an eye on analyst prediction- if it starts moving as he predicted which will help one to decide whether he wants to trade the setup or leave the same. Related Analysis attached below Traded x-wave with double top at 8600 & other analysis.
NSE:NIFTYLong
by WaveTalks
39
Nifty Flag Pattern!! Potential Buying Opportunity Coming Up!!Nifty is making a Flag Pattern which is coming near the lower trendline with MACD Divergence.. I would expect the price to go higher from there which gives a potential buying opportunity.. If it break the Flag upper trendline line then My Markets are at the all time highs around 9120. However, if it continues to go lower then I would wait to see what pattern is being formed before taking long positions.. Happy Trading!!
NSE:NIFTYLong
by SirajHudda
4