Most probably one impulse wave is completed from 10774 to 10512. and we can consider it as wave (A) and now retracement levels of wave (B) is coming at 10612, 10643 and 10674 which can be achieved in coming sessions.
I would suggest not to trade for wave B in options and wait for wave C to trade.
If Nifty decline from present ...
Nifty Spot as on 4th Oct - 10599
The momentum of selling pressure, global sentiments and macros indicate that, this is the start of the NEXT BEAR PHASE...!!
Important Support Levels as on Monthly Chart are mentioned on the chart above.
Bulls Need to give a Monthly Closing above 10400 to avoid break of the bull run trend line from Feb '16 to Aug '18.
If 10400 ...
Nifty will test the channel support around 10800 and likely break it to test it's 200 DEMA at 10770. Important Resistance Levels (purple) and Support Levels (Green) are marked above in chart.
Trade Setup :-
Short @Cmp or in 10900-930 zone
Stop loss 10985
Target of 10800 / 10770 / 10750 / 10735
All the levels mentioned above are spot.
Guys NIFTY make test previous high If Don't break new high keep watch...
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such ...
As i have marked on the chart price is respecting Fibonacci time and price levels. Hence we can expect the same in future too.
The response of price makes every line marked on chart extremely IMP.
Which time and price levels are most important?..... can be answered after observing the price action in history. With this ...
After doing analysis, I can confirm that Nifty will settle around 10200 at the end of this year! The above pictures just sows the simple sample and prediction of my analysis, I haven't included any technical drawing on the above picture, because I have done the analysis on my personal charting tool!
When Nifty formed that Double Bottom around 7800's most of the retail traders would be suspicious or even thought it might go down a bit bcos we have seen so many double bottom;s fail, so now also it will fail, but what happened after that was exemplary bull run to 10k's & Many don't forgive themselves even now for not buying there. So Buying at Exact Lows & ...
Currently having main resistance at 9682. If it is not broken soon enough, their is high possibility of consolidation.
In any case I believe it has not hit the actual resistance, but their is time for it.
Eagle - wait and catch the trade at perfect level. I have mentioned the path of nifty for short term.
Path 1 - drive to the trend line and vehicle may get accident once to touch trend line. Reason - MACD is not exactly on strong bullish trend so nifty have less probability to break the trend line.
Path 2 - if nifty failed to break the trend line, leads to fall ...