Nifty View: Benchmark Nifty index breaks below 14,785 in the last trading session to give away a significant part of the recent rally. It’s the underlying short term UP trend that is under threat now. Another daily negative close and we have a reversal, again. On the downside, immediate supports to watch for is around 14,600 wherein there is a cluster of volumes....
as per our occtans indicator
after gap down opening at 9.15 our tool has triggered "sell 5" signal and After broke of sell 1 signal low bank nifty down 180 point.
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Nifty opened with a gap down due to a sudden sell-off in the global market. We saw a good recovery and got another selling opportunity.
SpanAttack Subscribers bought 14900 PE around 74 which went to 130+ and gave great profit. We also tried 14850 PE and booked around cost.
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Nifty has broken its major resistance trendline & changed its trend from bearish to bullish. It tried breaking the Fibonacci 61.8% level but couldn’t break it. We can also see a possible cup formation. Price has been trading inside the cup we made on chart. If nifty trades in range for tomorrow we can confirm that the cup n handle pattern is completed and a...
Support @ 14250
Resistance @ 14650
Weekly charts (long term)
The candles have take support at 20 DEMA which is a good news. Regardless of the poor opening today, we have a green candle after 2 weeks.
MACD is the the bull zone but does show a reversal. We will consider this as neutral.
RSI is moving downwards but is again above the 50 mark....
Nifty View: Thanks to the gap down in today’s trading session, benchmark Nifty got the much-needed drop in momentum. After the recent one-way four days rally, the index did need some headroom before it can rally further. Now we did notice decent strength from the Bulls to not give up post a weak opening today. A move beyond today’s range will set up the next...
Analysis based and Elliott wave, and looks to be a complex WXY XZ correction. The internal structure of such a pattern is very difficult to identify. But the current bounce is looking very weak and there is possibility of one more leg down.
TREND ANALYSIS & TRADE SETUP !
ELLIOTT WAVE ANALYSIS !!
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for ENTRY CONFIRMATION !
Reward is 8-10 times .
Burger King is geeting a gd support from the demand zone now, as well as volumes are also increasing, making it bullish.
Buy Burger king at 148
Tgt: 172, 193, 210+
Time frame: 1-2 months
Nifty seems to become volatile in this expiry.
14800 being the support and 14900 resistance, though major resistance is 150000.
If somehow it manages to break any of it, it may give us the direction, till then See-Saw play.
Also, global cues are negative, I may stay away with no trade.
14765 is the neckline of the Head and Shoulder pattern which can be seen...
The market fell for the first time in the last five consecutive sessions with the Nifty50 falling below 14,900 levels, due to selling pressure in private banks, IT, metals and pharma stocks on May 11.
A reasonable positive candle was formed at the lows with minor upper shadow. Technically, this pattern indicates an attempt of bulls to come back...
Nifty View: A slow-paced gain of 101 points from the benchmark Nifty index in today’s trading session. We have been looking at the high of 14,765, above which we expect some buying impetus. And today the index has teased this level and managed a close at 14,780. We should see a swift move towards (14,900-15,000), provided there are no negative surprises at the...