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Niftybreakout

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
Is Nifty going to fall around 200 points ? here is the analysis.As we can see on 06th Oct Nifty made bearish engulfing candlestick pattern on daily TF, The level between 17881-17768 is crucial to decide the momentum of the market if the resistance 17881 breaks and sustain for about 15 min then we can expect up move in the market, but if 17768 Support will break then the market will fall up to 17550 levels to fill the previous gaps. *Always Enter With good confirmation & Maintain proper Risk Reward. **********Educational/informational purposes only. ********** >> Visit My Ideas Page for Daily Stock Analysis, Follow for Live Updates. <<
NSE:NIFTYShort
by Ravitejasreevatsav
Nifty Weekly Setup 28th July to 2nd JulyHi All, Nifty setup for next week is quite interesting. Nifty is at critical juncture or say make or break level. Nifty is trying to give breakout on weekly as well as monthly chart however failing to close above the desired level. Important points to consider next week: - Nifty break 15901 level convincingly with good volume for strength breakout - Nifty once close above 15986 important Fibo level can give targets till 16220/16451 -Nifty to fail breakout will be initiation of a correction a small one though in month of July. Now most awaited question , how much market can correct? Well answer will be awaited until next week. Do not forget to watch out this space for daily Setup updates
NSE:NIFTY
by Trade_Levels_with_DD
Nifty - Short & Sweet for the Day !Are you guys overloaded with Diwali sweets ? Here is another short & sweet setup in Nifty. You guys are awesome, so just with look over the above chart you might have realized we are looking for Breakout. Though we are bit undecided about direction of breakout, take care of false breakouts with proper stops & quick reversal on opp. direction move. This is the only way you can cut your losses in false breakouts & more importantly it should have been part of your trade plan. If something is not in your plan check whether that suits your plan first & then implement, else skip it. I don't want Nifty to fill the gap @8670's but let's see what happens. We may see slight upside move which may look-like breakout & then falls down insync with yesterday's Nifty post "Welcome Samvat 2073". Whatever happens I don't like to see Nifty breaching 8700's if that happens we need to go with bulls & search for bull entry reasons. BankNifty post on the way, will post after Market opens.. For positional Nifty check yesterday;s post.. InsiderB !
NSE:NIFTYShort
by InsiderB
5
Nifty : Head & Shoulders Not the shampoo... !So today in Nifty 15 mins we can expect the breakout of head and shoulders pattern and a move downside. Why we are expecting downside breakout ? Well, then only My last two days post will be right prediction :) We have same amount of chances to take support on trendline and move up. So watch Nifty carefully, won't you love it if the breakout happens & get a ride on Bear's Back ? Don't worry, just hope bears will hug us, not squeeze... If trendline support is strong on valid bullish reversal initiate longs in Nifty probably any one scenario will be over by today I guess but lets watch what plans Nifty have... As mentioned in Nifty chart keep watch on zone 8720's to 8740's... Premarket Update : Nifty opened @ 8768... Head & shoulders may work or fail.. Let's give fair chances for Failing analysis also :) Happy Trading !
NSE:NIFTYShort
by InsiderB
9