Nifty has gained around 9% in one month and it is very likely that it may reverse.
RSI and MACD have also shown a signal of reversal.
Short nifty for a target of
TGT 1 - 11390
TGT 2 - 11330
TGT 3 - 11250
SL - 11650
Nifty with today's close gave a bearish candlestick pattern on a 'weekly' basis which tells us that it will break 11400 in the coming week and move towards 11350. One may sell Nifty on rise with SL of 11575 and targets of 11400/11350. The Bank Nifty has also given the same kind of pattern and hence the downward move will have help from the banks as well. So a...
Correction - New Blogs can be checked on left top corner as compared to right top corner suggested over the video.
Plan A - Buy in 10650-10675 zone with strict stoploss below 10620
Targets - 10780-10800 / Buy Above 10800 for 10890/10925 / Above 10925 for 10985-11,000 & More only above 11,000 levels.
Plan B - You can sell if you see index...
BankNifty is now facing tremendous Resistance start at 28200 to 28350.
Expected opening between 28055 to 28100.
If its open more than 120 points, we will see selling pressure in opening.
Dont get confused, Selling is good if higher GAP up.
It seems wave started from 11118 is completed as impulse wave and it also achieved minimum projection(shown in my previous post) of wave C. And if we are right at identifying pattern then nifty needs to bounce sharply towards 10892. So need to concentrate on the wave pattern started from latest low 10620 to catch immediate move.
Even if wave C is not completed at...
NIFTY 50: WEEK-TECH-SHEET->18th March 2019 to 22nd March 2019
Nifty 50 moves around -160.30 pips from 18th March 2019 to 22nd March 2019, in which nifty 50 break last week 11th March 2019 to 15th March 2019 top 11487.00.
As mentioned on reference 15th March 2019 evening order
If it continuous to break 11487.00.
Buy @t Entry: 11620
Stop Loss: 11150
We saw that Nifty did not pay heed to the Doji pattern today. Infact it took support near 11452 and bounced back and closed near the high for the day and in the process formed a bullish candle. One may buy Nifty with a SL of 11449 and targets of 11546/11565/11590.
A safer strategy would be on the options front
We got a doji pattern on the nifty charts (daily) which indicates indecisiveness on the parts of the bulls and the bears and which indicates the present trend might take a breather. So it would be a good idea to sell on rise with SL of 11540 and targets of 11410/11350 for the short term.
All levels are Cash levels.
It seems Nifty is in wave 3 of (C or 3) and if 3 completed at 11487 then wave 4 retracement levels are 11313-11206 and for upside 100% and 123% projection of wave (C or 3) is coming at 11566 to 117098 respectively.