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Nifty50_price_targets

Negative Nifty outlook for coming sessionsThe trend analysis done using few major support lines on daily chart, we are looked into major support/resistance trend line of market cycle trend, long term and intermediate term. Sensex channel has touched high value for all three channel, on 3rd June Sensex touched high value trend line (Resistance) continuing since 2009 and also touched high value uptrend running since Oct'18 and same for Feb'16. Since than it started downward movement and touched bottom of 1 channel in early July at 11,461 (touching bottom of its up trend continuing since Oct'18.). If it break this 11460 level/ channel it will continue to 11,0000. Short position can be opened if 11460 level is broken by Nifty.
NSE:NIFTYShort
by AnkitSalgia
5
NIFTY | Trading between 11650 & 11840 Nifty breaks out of the falling channel. However, index might be trading in a range for while i.e. between 11650 & 11840. Only a breakout on any side would tell us the next potential trend. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:NIFTY
by AkhilSuryaFS
NIFTY | Rounding Top similar to Bank NiftyRounding Top pattern observed in Nifty. Neck level is at 11615, which if the index breaks decisively, can be considered for Short selling. Target of the pattern comes at 11127. We could also find that 61.8% Fibonacci retracement level of the previous swing falls at 11164. Hence if the index falls, 11127-11164 would act as a strong support area. But for now 11615 hold the key. A similar price action is seen Bank Nifty indicating that the current support levels is very important for the market as a whole.
NSE:NIFTY
by AkhilSuryaFS
NIFTY | Chart StudyNIFTY 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 well below 11615, there's a very good chance of a bounce from 11615, at least temporarily towards 11770. Hence, from Risk-Reward perspective it is favorable to go long at 11615 levels with tight stops say, a bit below the round number 11600. Shorts that are being carried from higher levels could exit at 11615 and re-enter once 11600 is breached. If 11600 is broken the index could fall swiftly towards the target of Head & Shoulder and Rising Wedge patterns. (Note: Charts with Head & Shoulder and Rising wedge patterns and their targets are attached below)
NSE:NIFTY
by AkhilSuryaFS