EXPLANATION : This is a 1 hour time frame chart of NIFTY . It has taking support from Demand zone and has formed kind of Double bottom pattern . If support taken from Demand zone I am bullish on NIFTY . If give a strong breakdown and broke its Demand zone with high volumes and retest the same , I am bearish on NIFTY .
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This video link is all about the perfect analysis for those who are in search of a weekly outlook of nifty and bank nifty with precise levels of support and resistance. If you apply in your trading would be able to know the right direction of trade.
Nifty has filled the gaps. It has a very active gravitation line where price activities are on the bulk.
According to wave principle, corrective waves form in deceleration and, impulsive waves break the declaration channel.
If nifty breaks the corrective channel, we may see an upward move. Otherwise, the price will continuously form in the corrective channel.
I have uploaded the Nifty Elliott wave study, and it has reached the first target of 18164.
The trader can trade pullbacks on the nifty.
As per the rule of the channel, Parallel channel B can provide support to the price.
After the pullback, If the price is not giving any reversal signal, it's better to stay beside the market.
If the price tries to fill...
Can't say much , but market works in cycles and according to my 12 years of trading with Data science as an edge in the financial markets .
I am saying " SELL AND RUN AWAY " .
It always happens with new batch of people they buy equities and nifty at any level in the market and they get trapped . These people block their capital for atleast 2 to 3 yrs . (LOSS BOOK...
Nifty Trade Plan for 22 OCT 2021
Expect a gap up opening in Nifty
Narrow CPR today, After gapup opening 18270 is the first resistance to be watched out.
If that is taken out successfully then we can expect 18363.
If Break out confirmed we can expect 18500 levels.
In case of any reversal and CPR will be a buying opportunity.
NIFTY will open above 17900 level in today's session. After opening if it sustain above 17900 level then it will extend bullish move upto 17940. 17940 will act as an immediate resistance after opening. In case banknifty gives breakout of this resistance will result strong upside 100+ points movement in NIFTY. Any bearish movement only possible if nifty starts...
NIFTY will open gap up today. After opening if it's sustain above 18200 level then expected further 100-200+ points bullish rally in nifty. Downside possible if nifty not sustain above this level and starts trading below 18150.
Nifty Trade Setup for 13 OCT 2021
Expecting a gap up opening in case of Nifty.
The first resistance to watch is the Previous session high. If that is taken out on upside then we can expect Nifty to make fresh high.
Any resistance from Bearish Reversal zone we can expect CPR to be tested out.
Bullish Reversal zone of 17952 is a strong support.