It seems from 7512 an Impulsive wave started and at present wave 4 is completed at 8454 OR will complete in 8504-8353 range and bounce towards 8926-9218 range is expected.
Negative only if stays below 8353.
wave v started from 9404 already achieved its minimum required projection of 8967 and 8697 which is 38% and 61% respectively. and so that it is extended. maximum projection is coming at 8261.
As wave v is extended there is a possibility of sharp bounce towards 9404 without breaking below 8261.
Nifty closed near its supply zone @ 7850-8000. The demand zone is very wide @ 7450-7750. I am not interested in taking any trade-in fut between 7450-8000 because It’s a sideways zone for me. Nifty may be volatile and it may move both sides in this zone. Option selling is a good option in this trading range. In option selling positive is we are very close to the...
After the craziest fall, nifty is pulling back. So where to short a pullback?
A - Bearish Flag Breakout
B - Price Percentage Change Projection
C - Traditional Price Range Method
D - Retracement...
Earlier we have counted 10295-10545 as wave (4) but now its looks like wave (4) is completed as 8476-10157 and from 10157 wave (5) started.
because of Sharp bounce towards 10157 it was hard to believe that its a corrective wave.
wave (5) completion range is 8649-7717 which is very big so we need to look at the decline from 10157 for internal count of wave (5) in...
In monthly chart wave (3) of is completed at 12103 and wave (4) is running from 12103 and already achieved minimum retracement at 10316 which is 23%. 38% retracement is coming at 9210.
After completion of wave (4) nifty may bounce once again for new high as wave (5).
wave C started from 12428 already achieved its minimum projection and its difficult to count because of sharp decline from 11389 but from looking at the chart we can conclude that immediate resistance range is coming at 10755-11040 and if nifty bounce sharply above 11040 and hold then only positive.
After completion of wave C nifty may give sharp bounce above new...
Nifty may trade in 9150-8050. This will be the no-trade zone for me or I may think for option selling but only if I am comfortable with IVX. In any case, if it will sustain above 9150 then I may take a long position for the target of 9350-9450. And on the downside, Also small move to 9050-9150 possible if it will sustain above 8850. if it will sustain below 8050...
NIFTY may see some temporary recovery around 9000 levels. If it holds 8800 to 9000 zone it will act as a strong support if not it will try to correct further to 6970. Long term investors can plan to accumulate more once NIFTY settles. As of now doesn't seem to settle around 9000 level.
In 4 hour chart 12103-10637 is wave (A of 4), from 10637-12428 is irregular wave (B of 4) and from 12428 wave C is started and now trading well below its minimum projection range.
After completion of wave (C of 4) nifty may give sharp up move again for new life time high.
We need to see wave C in lower time frame chart to find out its completion range.
Above 10450 there are multiple supply zones and on the downside, there is a major demand zone @ 10125-10390. This is the last hope level. Once it sustains below this level the next level is 9850-9775. But it’s not easy to break 10125-10390 straight away.
If Nifty will sustain above 10470-10500 then it may bounce to 10585-10680. Above 10585-10680 the next...