In this 1hour chart it seems wave (i), (ii), (iii) and (iv) is completed at 11305, 11181, 12025 and 11535 respectively. And from 11535 may be wave (v) started and already achieved its 38% projection and almost near to 61% projection. so now we need to be cautious on buy side.
The only confusion in this chart is the speed of wave (v) from 11535 is sharp and...
Posted this daily chart idea on 17th oct. and we are near to minimum target. so we need to concentrate on the bounce from 10790 to find out top.
In daily chart from 7511 wave (1), (2), (3) and (4) is completed at 9039, 8055, 11794 and 10790 respectively and from 10790 wave (5) is started and projection of wave (5) is coming at 12426-13437.
1. On 1st of Nov 2020, I wrote in my weekly blog of Nifty in point no. 1 of the trading section is quoting as proof of my previous statement regarding the move you seen in nifty " As price made an evening star pattern on the red dotted line if the price has to change its trend to upside then the black dotted line has to take out...
1. On the 10th of October 2020, I wrote in the weekly Blog of nifty in clear and crystal words about the movements of nifty for the coming days. As I had to take a break, therefore, I manifested the complete move for 15 days. That I prove you step by step see my first statement in point no. 1 of the trading section is quoting fas...
Decline from 12025 is looks like corrective as of now. so we can still expect bounce towards 12007-12298 range in coming days.
Invalidation point for this view is 11305 which is well below from current level so for immediate move lets look at 15 min chart from decline 12025.
1. Nifty OHLC are below yesterday, after lots of consolidation - Bearish
2. The candle is green - Not Bearish, But with long upper wick, closing just below the yesterday's low - Bearish signs
3. MACD has crossed over Bearish.
4. With SL at 11770 and target 11305 - It seems like good Risk Reward Ratio
5. However, It clearly has taken support at 11618 level, which...
Nifty, Two possible scenarios, range-bound or downtrend.
In any case, a breakout above 11925 the next resistance will be 11970-12000
On the decline, support will be around 11820-11720 in short term.
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Updated on : 27-Oct-2020 12.00pm
Disclaimer: Only for learning purposes.
- Nse Intraday Stock...
I hope you can now see how Nifty represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed...
TRADE SETUP !
FLAG CHART PATTERN !
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
Reward is 6-8 times .
In monthly chart wave completed at 6357, wave completed at 2252,
and in wave may be 5th wave is running from 7511.
38% projection of that wave (5) is already achieved but it is below earlier high and 61% is coming at 13598. so wave (5) completion range can be 12428-13598.
This is a Flat Structure where we have Waves A and B completed and now Wave C which is a downward Impulse forming; so for now you can forget buying; it should bouce in our Supply from the Demand drawn as per the dotted lines and then Nice fall I have also mentioned the target in the downward direction;
NIFTY is trading in a rising channel at around 12000.00 key psychological level and formed a double
top formation which is a clear sign of bearish trend. We can expect short term retracement towards 11625.00
which is a previous high turned support level and the next primary target would be 12400.00. If the 11625.00
level was broken then the immediate downside...
Today was a Red Dorji, with closing above yesterday's closing - a clear cut sign of indecisiveness. It might be spinning tops for the next few days.
Avoid going long or short or take hedged trades. Wait for the trend formation before taking trade.