As of now decline from 9889-8807 looks a three wave move, but the bounce from 8807 doesn't look impulsive so it can be a corrective wave of 9584-8807 and Nifty can decline again below 8807. 9104-9195-9287 can act as a resistance zones.
FII bought 19.2 K contract of Index Future worth 1283 cores, Net OI has decreased by 2.5 K contract, 8.2 K Long contract were added by FII and 10.8 K shorts were covered by FII. Net FII Long Short ratio at 0.90, So FII used fall to enter longs and exit shorts.
Nifty open with gap up bulls were able to enter above 9132 but missed our target by few points as high...
1. In this chart I circled price behavior in green at all levels provided few days back give the correct information of frequent entry and exit . If anybody has the knowledge of how much any move whether with trend or counter trend will travel in correct direction can perfectly work in intraday trades with the help of given support and resistance in this range...
As of now bounce from 7511-9889 looks like corrective bounce and nifty can decline again towards 7511.
Only a sharp bounce above 9584(without breaking 8807) can save nifty from falling towards 7511.
In monthly chart decline from 12428 can be wave C of irregular correction(Nifty can bounce again for new high in that case) OR it can be impulse wave A(Nifty can decline again for a new low in that case). 6338 is an invalidation point for this wave count.
8457 is another magnetic zone.
Reasons:
1. Divergence on the rsi
2. price reached to fib level 50%
3. There's extreme greed sentiment across in the market
4. There's a confluence of Fib level 618 price at 8457.
COMPARING MY YESTERDAY STATEMENTS WITH TODAYS REAL PRICE MOVE.
1. In my previous post I said in point no.1 a ref line in daily chart is intact so market can move down . it means one has to be in shorts till this yellow ref line is intact. But when in day after 1.30 nity cahnged its sentiments by breaching it ,there was no logic to be short. That is why given...
TARADING PLAN FOR NEXT DAY 20-5-20
1. Threre is nothing to compare in my last statements with actual move , as nifty made inside candle so nothing to compare. A yellow line is intact so nifty is ready to go down to blue zone. That I said yesterday and sticking to this point. If dow today closes in bearish down candle then tomorrow this move will continue....
COMPARING MY PREVOUS STATEMENT TO REAL MOVE IN SGX TODAY.
1. In previous post point no.3 I clearly told you about the condition of green doted line quoting my words " morning star parttern is seen that has been tested in next candle. If it really works then green dotted line will breach and price will go to in 1st micro zone ." You can see price breached the...
COMPARING MY FRIDAY STATEMENTS WITH REAL MOVE O TODAY.
1.In previous post point no.2 every thing mentioned crystal clear, " I expect gap down open with the target of pink support." . Any body can see the price touched exact pink line even did not take any support from line. Every day I show you the precision of my zones, srpport,resistance work so accurately...
I sense a good gap up opening tomorrow and if sustains and crosses resistances as i targeted or respects the resistance
It may be a good sign of hopeful recovery of NIFTY
Many analysts are predicting a serious fall but i think i may not be more intelligent than them
but i think the candlestick pattern and kumo cloud of ichimoku suggests some good bullish strength...
I hope you can now see how the 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 favour.
Switch off all the noise around you and just focus on the chart.
Nifty is trading at some sort of long term support. If you are longterm investor then buy NIFTYBEES at every support, even after you buy let is go down another 50% no problem. Index in longterm has to go up there is no other option.
Its almost impossible to loose money by buying index for a longterm.
NSE:NIFTY
nifty in a range bound market there is no good news to go up and market has absorbed the bad news
as my expectation i think nifty 50 made a range between the price of 8900 and 9600 to become bullish it has take support above 9600 and to be bearish it has to resist 8900 untill then side ways only
COMPARING MY LAST STATEMENTS WITH REAL MOVE IN SGX NITY
1.In point no.3 I clearly mentioned that a divergence in price to volume is seen this can test the lower limit of red zone which you can see in fig I circled in green . Same happened. That is whyI always say market show friendship with my analysis.
2. Now next what? In nifty post with upper time frame I...
COMPARE MY YESTERDAY STATEMENTS WITH REAL MOVE IN NITY.
1. In point no3. yesterday I gave you target of white lower dotted line in down side. See the pefection of this level. Aggresive bulls took entry by confirming this micro zone with red band of upperside. That has been maniested yesterday. In point no.4 I showed you green dotted trendline with the...
