Right now Nifty does not posses any positive or negative strength. I can be clearly seen nifty failed to create new bullish price cycle after bullish divergence of last day. Wait for prices to either confirm downside by breaking support with shift in volatility or bounce.
It looks like Second Price cycle for Nifty has began and most likely we might see Nifty hitting 8761 in February. For now it seems like we may see some sideways move till end of month. For now it is good to wait for Nifty to complete sideways movement if it begins tomorrow.
1. Height of triangle was projected in downside. Then Nifty undergoing retrace. 2. After fall of 1 Fibonacci Retrace was 0.6 Conclusion : In case prices continue to fall from these levels it can fall upto 1.6 or 2 level on Fibonacci extension. Expected minimum TGT 8272
In case you prefer positional trading Nifty has undergone shift in volatility with divergence and break of resistance. The momentum has changed to downwards.
Nifty confirmed triangle break with first 15 minute of opening. I think short can be initiated for minimum downside of 8385. Prices are currently retracing to broken line take entry at the end of retrace.
If Triangle Breaks in downward direction then we can expect good downside
If price breaks 8402 with shift in resistance expect nasty fall, minimum TGT 8367, level of retrace 8346, for more info check chart
A divergence can been forming on Nifty, go short only if prices break support. In case you are already short maintain SL 8440
Greetings traders, This is a weekly update following our monthly, daily & probability analysis Please do not proceed with this analysis , if you haven't come across any of those. Refer to them at first & proceed with this analysis - link in the signature section (below)! Now to the analysis, following our daily update, we mentioned that the NIFTY could...
Market opened with another shift in price, since all momentum indicators are oversold, this upside is not a strong upside and have high chances of failure, if you are holding a long position start trailing SL properly to protect your profits. Regards, Nrupen www.udemy.com
Greetings traders & investors, This analysis is a combination of various prospects & contains a clear description for each of that "we don't understand a movie by missing half of it".- the same is true with markets, Let's understand NIFTY in higher time frames & continue through the same tunnel in lower degrees There are 'n' number of...
current structure shows that we can see a final leg towards upside than there could be a fall following. but to note that nifty should not proper break the upper channel line.