Niftyshort
nifty50 tech analysis fri 6augSince the gap up opening the market has made an upward move and made new all time high with the candles getting weaker with fall in volume. The market had good supply at the all time high which gave us a new supply zone. According to me the market will give a retest in an upward direction and the start its move downwards to cover the gaps. Watch out for Short Positions or PE option. Thank You!
Nifty on lower low formation Price ActionSince, Nifty is under consolidation and forming lower low formation,
Nifty will hit 15836 - 15850 will act as resistance, if it break out there are possibilities to reach 16000 in upcoming week.
If it goes below 15850 then there will be major fall upto 15460 - 15500...
Nifty spot analysis by SKNifty charts clearly showing distribution after long run apx.1700 points. i think ard 2-3 September 2021 if nifty breakdown 15500 level nifty will easily touch 14500 - 14300.
In 2nd hand if nifty takes support around 15500 and gives closing above support level, nifty will again test high level and continue distribution chennel for few days.
Nifty50 Short Opportunity Nifty50 Looking for Short Opportunity
The only reason for the short side is that global markets are now weak.
Also, Keep It Mind that
If stock market gurus were true experts, they would buy stock not selling advice. So don't take anyone's word for it; this is just my opinion; do your own analysis.
NIFTY Weekly Special (June, 14, 2021 to June, 18, 2021)Slow and Steady wins the Race
The Next Week Forecast is Tricky this Time.
Chances are High that NIFTY Could Resisted again at this level.
Fibonacci Circles are recommending a small body structure at the end.
While the Pitch fork Resistance levels are quite high it could be effective until 30, Aug, 2021.
Chances shows that either a minimum of 80 Points Up or 80 Points Down.
RSI Recommends a Overbought Level.
My Forecast is NIFTY to be Bearish this week .
Check my Previous Post on NIFTY to get a clear idea for dumping your stash.
NIFTY ON REAL CRUCIAL LEVELS! ( Must watch out ) As you guys can see the channel is well respected but the only problem here is that the channel is getting narrower and hitting the lower line constantly making it weaker
BANKNIFTY has already broken below but NIFTY is still halting
So making at its real crucial levels as break of this lower line could result in one sided 100-200 points fall in NIFTY but make sure the channel is broke with proper candle close