Monday nifty could give a pullback to 11900 and then push down to 11732. as we know 12000 is a strong supply zone. If 11900 closing up then we will see more consolidation between 12000-12050 to 11771 in this upcoming week.
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...
KEEP EYE ON NIFTY50 HOPE YOU UNDERSTAND
Monday market could open gap up to 11956 if sustains that level then move up till 12150. Also 12000 is a strong supply zone if it breaks below 11900 then it can create a perfect AB=CD pattern donwn to 11616.
If Nifty closes below 11838 then another 221 points down to 11616 possible.
Rising Wedge pattern observed in NIFTY. Pattern looks to have confirmed suggesting a bearish outlook. Target depth of wedge is around 420 points. With confirmation of pattern occurring at 11950, Target of the pattern comes in at 11530. Though, a retracement towards the pattern cannot be ruled out. Also be aware that 11616 could offer a good support.
NIFTY will trade lower today as the trade war between the US and China intensifies and we will see a possible retracement back to 11600 or below trade accordingly. Go Shorts on Pull back. Longs if the trend holds.
Nifty showing bearish divergence on almost all time frames & rising wedge .... a spot for shorters with a close stop of 12050 . a trade to be played ,bcaz setup is at good risk/reward ratio .
ghstocktrading.webnode.com BANK NIFTY: WEEK-TECH-SHEET->27th May 2019 to 31st May 2019 Bank nifty moves around +1160.55 pips from 27th May 2019 to 31st May 2019, in which bank nifty break last week 20th May 2019 to 24th May 2019 top 31705.00. BANK NIFTY: Breaks April Top: 30669.80
ghstocktrading.webnode.com NIFTY IT: WEEK-TECH-SHEET->20th May 2019 to 24th May 2019 NIFTY IT moves around -547.80 pips from 20th May 2019 to 24th May 2019, in which nifty IT break last week 13th May 2019 to 17th May 2019 bottom 15642.95. NIFTY IT: Breaks April Bottom: 15662.55
ghstocktrading.webnode.com NIFTY 50: WEEK-TECH-SHEET->20th May 2019 to 24th May 2019 Nifty 50 moves around +449.45 pips from 20th May 2019 to 24th May 2019, in which nifty 50 break last week 13th May 2019 to 17th May 2019 top 11426.15. NIFTY 50: Breaks April Top: 11856.15
There is an inside-outside - inside pattern seen on 22, 23 and 24th of may respectively. 22th candle is an inside candle of 21th , 23rd is an outside candle of 22th and 24th is again an inside candle of 23rd forming an ioi pattern. Market is long if the price breaks the high of the outside bar ( 12041 ) Market is short if it breaks the low of the outside...