Nifty50
Nifty in Critical StageLevels 9824 and 9704 are very critical, If both are broken nifty may turn bearish. if both levels survived multiple targets given in chart.
Highest level is for whole month...
Reliance - Inverse Head & Shoulders - Potential Target of 2120It is quite evident, that if NSE:RELIANCE clears the over head supply zone then it can potentially reach 2120 levels.
NIIT TECHNIIT has closed above 200 DMA but it is still below 0.618 resistance.go long if it sustains above 0.618 level; target would be 1985.
if it crossed below 200 DMA in coming session go short with stop loss above 0.618 level.
Can we say that Nifty is yet to bottom Just a Thought: Not for Trading Purpose
NSE:NIFTY
Speculation based on Past trends,
It may not be true because every time scenario was different but looking at current trends and the proportionate fall and retracement in nifty across Dot-Com Bubble Brust, 2008 - 09 Recession.
If nifty follows this trend, this scenario cannot be neglected.
Please check Analysis of past trends in Comment section
AS I M EXPECTING 3 DOJI IN ASCENDANCE 3 DOJI ON DAILY CHART IN ASCENDANCE , THAT MEANS A BULLISH UPTHRUST CAN HAPPEN ANYTIME , BUT I M AGAIN VERY MUCH CONFIDENT OF FINAL FRONTIER RESISTANCE OF 9975-10100 ZONE , ITS A PRIME SHORTING ZONE FOR A NEW LOW IN THE NEXT (MAY) MONTH .
SO LONG NOW TILL 9970 & SHORT ABOVE IT.
Tata steel -using double pitchfork to get support and resistanceHello everyone, first of all, thank you for all the support and comments. It's not possible to reply to everybody's private messages, so in case I am late or couldn't give a reply, please do not mind.
Coming to analysis :-
The chart looks bearish and once it breaks the box/consolidation phase, then we can see further fall towards the median line of 2nd pitchfork and below that towards the end of 2nd pitchfork. If you want trade setup for this chart, please comment and I will analyse it for you and share it in other idea or comment down here, else you can plan your trade accordingly.
How to place double pitchfork:-
1. I will assume you know about pitchfork and know how to use it, so place pitchfork 1 as shown above.
2. After placing and adjusting it, make a clone of it and just move it below/above the pitchfork 1. This is our 2nd pitchfork.
Now, some experts may disagree with it, but I am just sharing a simple yet effective methodology which new traders or beginners might don't know and it may benefit them.
Also if you all want more educational charts please comment below. Please feel free to engage with me on this platform.
Do like and support
Thank you,
Kalpana
Correction of Market...a learning 2008-092008-09 followed wave theory and took longer time to correct. So one need to have patience for current correction, which is in progress and should not trade in PANIC!
