Double Top and Bearish Engulfing candlestick pattern formed on Nifty. It is a signal for bear to takeover the nifty from bull. Fall will start from 10440 to 10396 / 10330 and possible to reach 10240. "Happy Trading"
In today's session a follow -up bearish candle has formed, which was quite expected on seeing strong Bearish engulfing in yesterday's session. If you look at candles, you could find that the today's momentum was bit less than the previous session, which suggests keeping near near term resistance levels in check, so that the further move can be tapped on the right...
Bullish on NIFTY! Journey Towards 10,000+ is eminent!
The UPTREND is Still Intact! 9800 to 9780 Major Short Term Support!!
A quick overview at how the Nifty is shaping up into the period going forward having witnessed a good correction of just under 3% from the recent highs it has just made. Chart speaks for itself!
Currently having main resistance at 9682. If it is not broken soon enough, their is high possibility of consolidation. In any case I believe it has not hit the actual resistance, but their is time for it.
Again before giving us new high it is going to come at its 61% entrancement. Currently at 23%, so i do recommend to wait for 100 points correction.
So where to begin with ?! Let's go with analysis first then we will touch up on Gann. Why I'm aiming the zone of Nifty 9570's, as mentioned in previous post I can see potential ABCD pattern , though its bull run it may trigger downmove a smaller relief rally of 100 points. Apparently, we are aiming at 9750's zone for this bull run target zone, if My guess is...
We are repeatedly discussing this is completely inflated bull run and I'm not sure how long this run will exist but the longer the inflated run, the bigger the correction. We are all gonna love it, we will rock with bears thats for sure but just wait for it. Now its not the time, so whatever the bullish run offers bag it. There is not even slightest retracement...
There is an unfilled gap from 8970-9020. Market will try to fill it as soon as possible. Target: 8975 (175 points) Stoploss: 9200 (50 points) R/R: 1:3.5 Regards
The Black line on RSI is showing Strength is falling which means prices may fall. There are two support we could expect Nifty to stop on. If Nifty breaks support of 9023 and finds support on 8958 then we'll get a Bullish Harmonic Pattern with target of 9116. Expect this harmonic pattern to form successfully.
In the last analysis my view was that a breakout trade should be initiated and Nifty went from 8652 to test the important resistance zone of 9000 as expected. As of now it seems that Nifty will retrace till the red zone of 8430- 8300 to complete the Wave 2 (Red) within Wave 3 (Double bracketed Blue). It is also possible that the retracement is shorter in that...
After good upside most likely Nifty prices are supposed to halt at 8940. In case you are positionally long its time to either exit your positions in profit or protect your profit with SL. 161 Level of Fibonacci have 50/50 expectancy to keep prices down for some time
Today Nifty opened above 100 points, started falling down and then recovered. The 2 big red candles denote weakening of upside and the red line above shows point of significance. In case you are in long position its time to keep trailing SL on your profit. I think there are roughly 66% chances that Nifty will go sideways or fall from Point of Significance. By...