Nifty (Spot) Buy Near 11540 Stoploss 10490 Target 11640- 11700
Reasons for Trade- 1.Nifty has formed bullish candlstik pattern on daily chart
2. Excess buying is done near to 4 hour trendline 4th time
3. Price has closed above the 4 hr as well as channel trendline support.
4.Small Pullback is expected after 3 days fall
5. Risk Reward is 1:2
Nifty cracks through 11600 with big momentum. With the way the index has fallen, weakness would be carried on to coming sessions. Immediate support at 11550 looks to have been obeyed, below which we could also see a trendline, which could provide some relief. However, support may only be temporary and it all plays down to whether the level of 11550 holds or fails....
Pattern from low 11625 is also complex. Trading strategy should be sell nifty with strict stop loss of 12001 for the targets given on chart. It can also go below 11625 if bounce from 11625 is wave X2 of Triple zigzag correction.
Nifty Sell Near 11830-11840 Stoploss 11900 Target 11700-11650
Reasons for Trade-1. Nifty has formed strong bearish candlstick pattern on daily as well as Weekly chart. 2.Price closed below important support of 11880 on daily chart. 3.on 15 minute chart price closed below 50+200 EMA 4.Price is ready to break the 15 minute trend line formed on 19th june 5.Risk...
Budget week ends with a muted reaction on the streets. As anticipated the Indices moved well within the defined range of demand and supply zones. As mentioned last week Nifty reacted from the supply zone of 11959 and ending around more than 100 points lower. Nifty bank too saw selling coming in at 31512 levels and giving a gain of almost 400 points. Therefore the...
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NIFTY 50: WEEK-TECH-SHEET->01st July 2019 to 05th July 2019
Nifty 50 moves around -183.85 pips from 01st July 2019 to 05th July 2019, in which nifty 50 break last week 24th June 2019 to 28thJune 2019 top 11911.15.
Rising Wedge pattern observed in NIFTY . Pattern looks to have confirmed suggesting a bearish outlook. Target depth of wedge is around 195 points. With confirmation of pattern occurring at 11925, Target of the pattern comes in at 11730.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider...
Triple zigzag pattern is violated as of now and if nifty completed correction at 11625 as double zigzag then nifty needs to go for new high very fast. Any consolidation below 12000 would indicate its still in X2 of complex correction. Will update if found an exact pattern.
Nifty Sell Near 11870-72 Stoploss 11905
Target 11830-11810
Reasons For Trade- 1. Price took resisstance Near IMP level of 11900. 2.On 1 Hour Chart Bearish Candlstick pattern is formed. 3.Excess Selling is started on 15 minute chart from 11900 resistance. 4. Risk Reward more than 1:1.5
It seems Nifty currently in triple zigzag correction and will complete its last abc below 11625(most probably in an ellipse drown in chart). So Nifty needs to go below 11617 before breaking upper wedge line. But if it breaks upper wedge line before going below 11617 then we could conclude that correction is completed at 11625 as double zigzag.
A tough fight between the bulls and the bears leaves the street hanging to decide on a clear direction. Major indices respecting the demand and supply zones and moving between the consolidated ranges, suggesting the markets awaiting some clear cues before it continues following its direction. As mentioned last week Nifty played out both the zones by respecting the...
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
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.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading...
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.
