Nifty breaks out of the falling channel. However, index might be trading in a range for while i.e. between 11650 & 11840. Only a breakout on any side would tell us the next potential trend.
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Nifty Buy Between 11750-11740 Stoploss 11695 Target 11850/11900 Reasons For Trade-1.Nifty Has given channel Breakout on 15 minute chart as well as on Daily Chart. 2.Strong Bullish candlstick pattern formed on daily Chart.3.On Daily Chart Candle Has closed out o the channel. 4 Price has taken strong support on daily chart on 50EMA. 5.Risk Reward Ratio is 1:2
Decline from life time high 12102 is seems to be corrective and looks like double zigzag in which 12102-11770 as first abc, 11770-12000 as X and 12000-11625 as second abc. Now If correction is completed at 11625 as double zigzag then we will see new high above 12102 OR pattern could also turn in to Triple zigzag(In which one more low below 11625 is possible from...
Following trend channel price is making LH&LL therotically price is heading to downward and level 11573 can be achieved easily but the market always being tough and nothing comes easily so having an opposite opinion not bad. I'm seeing some confluence at 11876.
Rounding Top pattern observed in Nifty. Neck level is at 11615, which if the index breaks decisively, can be considered for Short selling. Target of the pattern comes at 11127.
We could also find that 61.8% Fibonacci retracement level of the previous swing falls at 11164. Hence if the index falls, 11127-11164 would act as a strong support area. But for now 11615...
Nifty Trade Idea-Nifty Is making Lower Highs and Lower Lows on Daily Chart, Near 11830 Nifty Has strong Resistance of Channel+ 200 Days EMA on 30 Minute Chart +50 ays EMA Resistance on 4 Hour Chart + Horizontal Resistance near 11840
Monday nifty could give a pullback to 11900 and then push down to 11732. as we know 12000 is a strong supply zone. If 11900 closing up then we will see more consolidation between 12000-12050 to 11771 in this upcoming week.
NIFTY 50: WEEK-TECH-SHEET->3rd June 2019 to 7th June 2019
Nifty 50 moves around -333.55 pips from 3rd June 2019 to 7th June 2019, in which nifty 50 break last week 27th May 2019 to 31st May 2019 top 12039.25 as well as bottom 11812.40.
NIFTY 50: Breaks May Top: 12041.15
Rising Wedge pattern observed in NIFTY. Pattern looks to have confirmed suggesting a bearish outlook. Target depth of wedge is around 420 points. With confirmation of pattern occurring at 11950, Target of the pattern comes in at 11530. Though, a retracement towards the pattern cannot be ruled out. Also be aware that 11616 could offer a good support.
The latest correction (in last week of April & first week of May) has got some significance from a pure technical analysis perspective. Weekly chart is being considered for analysis.
OBSERVATION 1: For the third time if not more, we could see Nifty appears to have peculiar price action on its second attempt to break life time high. Each time in the previous two...
NIFTY 50: WEEK-TECH-SHEET->20th May 2019 to 24th May 2019
Nifty 50 moves around +449.45 pips from 20th May 2019 to 24th May 2019, in which nifty 50 break last week 13th May 2019 to 17th May 2019 top 11426.15.
NIFTY 50: Breaks April Top: 11856.15
There is an inside-outside - inside pattern seen on 22, 23 and 24th of may respectively.
22th candle is an inside candle of 21th , 23rd is an outside candle of 22th and 24th is again an inside candle of 23rd forming an ioi pattern.
Market is long if the price breaks the high of the outside bar (12041)
Market is short if it breaks the low of the outside candle (...
NIFTY 50: WEEK-TECH-SHEET->13th May 2019 to 17th May 2019
Nifty 50 moves around +317.85 pips from 13th May 2019 to 17th May 2019, in which nifty 50 break last week 06th May 2019 to 10th May 2019 bottom 11251.05.