Nifty taking support at previous broken resistance zone
If able to sustain, it may edge higher
16750-800 may act as strong level in coming days
If holds then may edge towards 18100-150 zone again
Buy near support
NIFTY 50 managed to close in Green @ 0.69% though there had been initial selling.
Now the concern is
SGX NIFTY falling in Red @ 0.54% . - " Hope its a Restracement "
Again FII turning as Net Seller with moderate 675.45 cr and DII again Net Buying back with 739.38 cr - "Hope its just a Profit Booking Friday"
NASDAQ down in Red with 2.37% @ 11.47 pm Indian...
2nd wave of the 5th wave have ended, 3rd wave of the 5th wave has started.
nifty also consolidated today and formed a bullish flag patter and it gave a good breakout
so expecting a gap up opening of minimum 120 points tomorrow
after the completion of 3rd wave expecting a quick fall as a retracement
above details are purely for educational purposes only
The daily chat is explaining the important Fibonacci extensions and the current range is 12722-13185. If it breaks the current higher range then the immediate upside is 13426 and most probably this will be the highest point in this run.
One it reaches the given highest point I am expectation these retracement points 12536/12325/12026 before sail towards 14422.
Please do your own analysis before trading or investing.
NOTE :- I am not a SEBI registered advisor, please consult your financial advisor before trading or investing.
Also NASDAQ shown in the video is of running market and not closing.
Post the finance minister’s announcement the trend has changed to short term bullish. Hence this rally is likely to continue until budget announcement. So buy if you see nifty at 11800 or 11750 levels.
A little non-streamline opinion again, ppl are carrying shorts due to formation of doji's in Nifty, but personally I feel we are still in very strong trend, yes there are very less chances of repeating things like "Only 4 times nifty given 6 continue +ve close in 2019" up and it can be very sharp correction when it comes, but I feel that will come after ATH, or...