NIFTY has given a very sharp up move from 20980 till 21834. This is one leg and its ideal pullback will be 50%. And as per ABCD pattern also this idea gets another confirmation.21380-21400 will be a major support in the next few days. It may bottom out from this region. If we get a bullish reversal price structure in 15 Min TF then we will simply plan long.
Nifty has formed a bearish candle yesterday i.e. 20th December and RSI also giving a bearish signal. Risk reward looks good in sell trade and Sell trade can be initiated around 21500 levels. Positional Sell: 21500 SL: 22128 (628 Points) Targets: 20535 (965 Points), 20212 (1288 Points), 19885 (1615 Points) To motivate us, Please like the idea If you agree with...
Nifty on Daily TF formed Inverse Head & Shoulder, breakout of which happened on 27th April '23. the expected target for the pattern is the Pink Line (987 points from the neckline). One can figure out 3 patterns 1. Inverse H S 2. Cup and Handle 3. Bull Pole and Flag Pattern. On the upside journey, green lines ae the major resistances.
Nifty wonderfully tested All time high twice at 15900 and formed a Double Top pattern. We can expect NIfty to touch 15500 in Early July expiries. Hold your short positions until it breaks the Resistance zone at 15800 levels or execute fresh short near 15780 levels. We need to stay caution as overall Market sentiment is bullish. We are trying to capture a small...
Right now, Nifty is continuously breaking its all time high's. But its in the edge of rising edge pattern. The Rising wedge will most likely to push the market downward for some correction. Also the RSI is in overbought levels. Correction can start to happen anytime. Wait for the RSI breakdown for short for a target of 15200 & 15000. 15000 will act as a Strong...
Nifty formed a Bullish Candle on Weekly Timeframe and a Doji on Daily Time frame. It has still not broken out of the channel. Maintain Caution at higher resistance levels ( 14850 / 14900 / 15000 ) Hrly TF - Bullish hammers one after other, indicating bullishness in the price. Blue trendline shows short term uptrend, if broken, then price may find immediate support...
Nifty positional view : - Once Closing Below 11900 for 2 days indicates NIfty Could Test 11810 - 11740 In coming days