As we discussed in previous idea , if nifty break 18000 level we may see more selling to 17900-800 levels , as it did in friday trading session.
Now , you can see simple Resistance and Support area in the chart , we may expect this week in this zone , so try to buy at support level and sell at resistance level
let price make a reversal pattern at the support...
Nifty will be gap up opening in today's session. After opening nifty sustain above 18250 level and then possible upside rally upto 18350+ in today's session. in case nifty trade below 18200 level then short target can go up to 18100 level.
Nifty will be gap down opening in today's session. After opening nifty sustain above 17070 level and then possible upside rally upto 17150+ in today's session. in case nifty trade below 17040 level then short target can go up to 16960 level.
Nifty will be gap up opening in today's session. Expected opening above 17050 level and 17050 to 17100 level is the consolidation range and if nifty break 17100 level this level then possible upside rally upto 17200+ in today's session. in case nifty trade below 17050 level then short target can go up to 16950 - level.
Nifty will be gap down opening in today's session. Expected opening above 16850 level and 16850 level to 16900 level is consolidation range if nifty is break 16850 level then go for short up to 16750 level. In case nifty break 16900 level it can go for long 17000 level in today's session.
Nifty will be highly gap down opening in today's session. Expected opening above 17450 level and 17450 to 17500 level is the consolidation range and if nifty break 17500 level this level then possible upside rally upto 17700+ in today's session. in case nifty trade below 17450 level then short target can go up to 17250 - level.
Today's will be gap up opening in Nifty . After opening if nifty sustain above 17380 level then go upto 17520+ level. In case nifty trade below 17340 level then possible downside rally 100-200 points.
Nifty will be open gap down in today's session. Expected opening above 17500 level and 17450 to 17550 level is the consolidation range and if nifty break 17550 this level then possible upside rally upto 17720+ in today's session. in case nifty trade below 17450 level then short target can go up to 17250 level.
15 Min Chart
1. Nifty is also following downside channel like bank nifty
2. Big move will come after the breakout of this channel
Disclaimer :
> This analysis is for educational purpose only.
> Keep an eye on global market as well, trade as per market condition.
Daily Chart:
Elliott Wave Perspective:
Nifty has completed the corrective wave A of triple zigzag (Z)
If the price gives a consecutive close above (X), it suggests that corrective structure has occurred and an impulsive wave started.
However, the price has given three moves after wave A.
Sub-wave a traveled 100% of wave B.
The price is weak below 17639 and...
WHAT TO WATCH OUT FOR
Technical Overview
Recently it made Head & Shoulder Pattern during mid Sep to Nov end, during which it touched a high of ₹ 19325 and made a neckline of ₹ 17050. It confirm the downside breakout on 23 Nov 2021 and confirms the start of downfall of stock.
Trendline merging its top with shoulder has not yet been broken.
Quality...
Magic Lines:
All supports are not for buy level. As like all resistance are not for sell levels
After long research and back testing we find which S&R is for sell level & which S&R is buy level.
In that result we give the pure intraday levels in charts.
BLUE LINE ARE BUY LEVELS (Target lines)
ORANGE LINES ARE SELL LEVELS(Target lines)
Additionally we added...
