Nifty looks like playing within a range. That range is set for today probably.
Thought if we can analyze and set a Nifty target which it could achived in 1st half tomorrow of by 10.30 - 11.00 morning.
We can be wrong for analyzing the technicals and targeting. Here we have not taken any tool suggestion or any news comeout.
Nifty should touch 516 - 513 tomorrow....
Market analysis: Nifty has formed a double top near the 10760 level. So until nifty is below 11960 market will be moving head towards 9400. Let wait and see what the market does in the coming days. Cheers!
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...
Lets look at the analysis --->
1> EW ANALYSIS :-
Assuming this trend from 1490.9 level in corrective phase, we will assume impulse wave completed at 830.1, after that it slightly got complicated, still we will keep prefer count as B as flat, now we might be in wave c of B.
2> Classical TA :-
a. the downtrend channel has given a breakout
b. formed a minor double...
NIFTY is trading in a falling channel as we could observe from the chart. Immediate support lies at 11615. Fibonacci extension (1.618) of previous upswing between 11769.5 and 12000 (as marked in chart) falls at 11626 which more or less comes in at same level.
Technically, even though we could see patterns like Head & Shoulder and Rising Wedge whose targets run...
Looking like took support on Trend line.
Buy above 11605; Target 1 = 11655; Target 2 = 11760; Safe SL = near 11500 (i.e. 10 points below daily trend line).
If 11500 is broken then can come down near 11380.