Niftybullish
NIFTY ANALYSIS FOR 02 JANUARY 2022Nifty lost its steam of bullishness as of now, it is in a range where dias is undecided
only if it breaks and closes below 17770 on Daily closing basis it will get Bearish
&
if it breaks and closes above 18710 on Daily closing basis it will get Bullish
in between the above 2 levels it will keep giving Goosebumps, hence avoid heavy positions till then.
NIFTY 50 - 22.07.2022 - BAHAVAN CAPITALNIFTY 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 Time. - ( Fed Meeting scheduled at July 26th & 27th is going to be crucial )
Bank Nifty looks bullish and Nifty 50 Partially Bullish, Next week we might witness fight or flight action from Bulls & Bears..
Happy weekend to All
NIFTY 50 TECHNICAL ANALYSIS ( ELLIOT WAVE )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
Nifty Daily Chat is in bullish extensionThe 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.
Nifty showing signs of continuing bull run and making ATHA 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 at least near 12075-12150. So expecting rally till at least 12075.
Reason for my opinions are simple, I see very strong ichi cloud there and price didn't even manage to touch it on last dull Friday, its a sign of buying and till that buying is there one can assume that trend will be kept. There is reason why following trend is most rewarding strategy after all. It keeps complications limited and gives maximum RR without you actually having to judge tops and bottoms, that's a game for different league of players, we are trend riders, so we should ride them till strong sign of reversals. Carry strict SL around Friday low for positional till we hit ATH, if we slide above 11955 you can shift SL to there and hope to catch maximum of rally till ATH.