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Niftyalltimehigh

NIFTY 50 IndexThere is no doubt that the Nifty Index has been bullish in the long term, but there are times the index takes a dip and thus we can take this opportunity to short it till the levels. The levels which I expect Nifty to drop are till 21900 in short term, the second target can be 21400, and if this level breaks in long term we can expect a further drop to 20650. Nifty is at all time high. If the price breaks above 23127 this idea will be invalidated. Important - This is my personal analysis and should not be considered as financial advice, kindly do your research before placing any trades.
NSE:NIFTYShort
by AmitTrades
NIfty Next Levels 20200 or 18800? Let's Read to know my view.Good Morning Mates. Nifty exhibited volatility but achieved a significant milestone by closing above 19600 for the first time in a while. The bullish crossover of the MACD signaling an ongoing bullish trend. Additionally, a bullish crossover in the RSI highlights the index's strength. In the short term, Nifty may target levels of 19800/19991 or even 20200+. On the downside, key support rests at 19308, and the market is expected to maintain a buy-on-dips strategy as long as this support level holds. Additionally we have Seen Triangle Continuation Pattern Breakout on Daily Chart, this is also a positive sign for nifty, i will explain a bit about this triangle pattern here. Q:- What Is the Triangle Continuation Pattern? Rahul:- The Triangle is a continuation pattern using the concepts of support and resistance and price breakouts. Generally, when prices make significant moves, they go through a period of resting. Usually with a Triangle pattern, the price consolidation period consists of higher lows and lower lows, forming the shape of a “triangle”. Q:- What Does the Triangle Continuation Pattern Look Like? Rahul:- Guy's check above the Nifty chart, i have rectified Triangle pattern. Q:-How to Interpret the Triangle Continuation Pattern? Rahul:- When the support and resistance lines begin converging, price can burst out of the consolidation area and it is expected that the price action will continue trending in the direction that prices have been moving previously. Q:- Is Triangle Continuation Breakout Pattern is a Buy Signal? Rahul:- Yes it gives signal to buy when the resistance line is penetrated to the upside. The signal is generally expected to be stronger if prices have been in an uptrend prior to the upside breakout. I hope guy's you have learned now about this Bullish Triangle pattern. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:NIFTYLong
by TraderRahulPal
2
Elliotical approach to Nifty50 Long.Hello Traders! 1. We can see an ending diagonal forming on the Nifty50 chart on the 1hr tf . 2. The retracement levels have been mentioned which gives us more evidence of the market following the wave pattern. 3. We see a strong trend resistance of the market. Once the resistance is cleared, we can look forwards to buying calls or selling puts, whatever suits the individual. 4. Let's talk about wave equality . In an impulse, the 3 motive waves (motive wave is just the wave that is going with the trend, i.e., wave 1, wave 3 and wave 5), tend to be in a harmonic ratio . There can be multiple scenarios aka ratios and 61.8% (the favourite of the public XD) is obviously one of them. As we can see on the chart, Wave 3 is almost 61.8% of Wave 1 . This gives us a picture that the possibility of Wave 5 being 61.8% of Wave 3 is pretty high. Of course, that may change, but too high a chance to just ignore. That sets us a target of 19200 to 19300 for Nifty50. 5. Another point that must be noted is that when we put 61.8% as a retracement level on wave 2 and use it as a Fibonacci divider , it also gives us the same target of 19200 to 19300 . This is out of the books and just an observation. 6. The triangle that we see is a questionable . Because we haven't so far seen a triangle form for wave 4 inside a diagonal. But if this works out as predicted, then that should be the most likely picture, a triangle can be there inside a diagonal. And before anybody questions, I have scoured certain books and haven't found any reference for a triangle inside a diagonal. Anybody having a better idea or picture is welcome to comment on it. 7. We also have a two bar reversal on the daily tf . Confirmation for that will be the break of high of the higher candle. 8. And, apart from everything, we work in the field that has infinite possibilities for every individual and hence itself has uncountable possibilities. We just get better at predicting the best possible outcome. So yes, even though the possibility for Nifty50 giving a breakdown , as far as I'm concerned, is very unlikely, it is still there. Do use proper risk management. Happy Trading! Profits, Market's Mechanic.
NSE:NIFTYLong
by UnknownUnicorn27677748