Nifty achieved its minimum projection of wave (v) which is 10722. And maximum projection of wave (v) is coming at 10440. so wave (v) of could be completed in 10722-10440 range which is big so lets concentrate on decline from 11181 in lower time frame chart.
Most probably wave (iv) is completed at 11181 and from 11181-10902 wave 1 of (v) is completed and wave 2 of (v) is in progress and may complete in 11000-11142 range and from there nifty can decline again towards 10902-10836-10782 levels.
Most probably Nifty completed wave (iii) of at 10849 and 11051-11176 is the resistance range. wave (iv) may be completed at 11080 or it may complete in 11051-11176 range. And from there Nifty may decline 430-690 points as wave (v). If nifty breaks 11176 comfortably with sharp bounce then its different wave count.
STUDY IS BASED ON SPOT RATE
PLEASE ADJUST FOR FUTURE LEVELS
INDEX SHOULD CLOSE ABOVE 20-DMA @11111
A CLOSE ABOVE 1140 IS NEED FOR CLOSING ABOVE SUPPLY ZONE
IF THE ABOVE CONDITIONS ARE MET NIFTY WILL TEST LEVELS OF 11255-11332-11358
NIFTY WEEKLY VIEW WILL BE POSTED ON FRIDAY
NIFTY 50: WEEK-TECH-SHEET->19th August 2019 to 23rd August 2019
Nifty 50 moves around -509.75 pips from 19th August 2019 to 23rd August 2019, in which nifty 50 break last week 12th August 2019 to 16th August 2019 top 11145.90 as well as bottom 10901.60.
following Indian market downfalls nobody expecting easy relief although Nifty 50's all stocks are in negative since July.
the big trader is bleeding hugely and they're pretending there's nothing bad and all good some are blaming the government and some are publishing apologize letter to their investors on social media. the damage is real things may change but it...
Finally the bulls seem to be having their way after weeks of mayhem on the street by the bears. However if this is for real or no would be a crucial point to watch in the coming week. The Nifty and Nifty bank bounced back from demand zones of 10863 and 27840 respectively, as mentioned in the last report. Intervention from the government helped the Indian markets,...
In channel resistance we can short nifty also the targets are given below. If it is not reaching the first level of target then it will start to rotate price. Also the price can be pushed upward near control price so don't go for buy and trap yourself.
NIFTY IT: WEEK-TECH-SHEET->29th July 2019 to 02nd August 2019
NIFTY IT moves around +440.35 pips from 29th July 2019 to 02nd August 2019, in which nifty IT break last week 22nd July 2019 to 26th July 2019 top 15645.70 as well as bottom 15265.35.
We can go for buy in nifty above today's high. Target is channel resistance. From channel resistance we can short or open below control price we can short (confirmation in candle needed)This for tomorrows view.
First Yay!! We have made 350 point profit from short position 11,460 to 11,010, we opened short from previous idea published on July 14th..
Nifty has supported got supported 11,000 exactly from where I said in my last article, so what’s next get long on nifty, first target 11,182 second target 11,282.
Do your own research and if this matching with mine then you...
The street seems to be grappled well within the control of bears as there is no respite for the bulls since the last 2 weeks. Every opportunity on the higher sides seems to be taken by the bears to enter a fresh short in the market. Nifty as well as Nifty bank have shed more than 400 and 2000 points respectively. Taking a hawk eyes view it would be important to...
In this 45 min chart we have not given any wave count but as of now 11456-11492 is an immediate resistance range so if nifty forms a corrective pattern towards this range then sell for new low below 11399. Nifty is positive only above 11492.
By looking at daily chart of nifty it seems wave (A or 1) is competed at 10985, (B or 2) is completed at 10585 and (C or 3) is completed at 12103 and from there onward it could be a corrective wave as wave (4) or wave C of irregular correction which can go down deep..
For more clear view we need to look at decline from 12103 in lower time frame.
NIFTY IT: WEEK-TECH-SHEET->15th July 2019 to 19th July 2019
NIFTY IT moves around -345.75 pips from 15th July 2019 to 19th July 2019, in which nifty IT break last week 08th July 2019 to 12th July 2019 top 15480.15.