Nifty achieved all minimum projection and now can correct up to 10595-10483 range. short selling can be initiated after seeing confident pattern with small stop loss for the target of 10594-10483.
Nifty Enter Fighting Zone Keep watch... and also form AB=CD
Expect zone 9950 to 10150
watch also Global Factors...
Possible to drop down
Disclaimer:
The information contained in this presentation is solely for educational purposes only.
if support fail then you can seee easly More Correction upto 9000 Points in NIFTY 50.
Price Retest on Support Level then very soon also a Heavy Bullish Trend upto 12500 Points.
Let c ...
Stay Tuned...........!!
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On 8th October it was published that Nifty may give a relief rally upto 10750 (Refer to the link below). The Index opened gap up on wednesday 17th Oct and made an high of 10710, just short of 40 points of our pullback target of 10750. Bears tookover the dalal street again after 6 trading sessions to give a closing at 10453 i.e. -257 points from highs.
The...
Last week we witnessed some intense selling. Nifty Lost close to 800 points in just 3 trading sessions. Now what next...!? Normally after such intense selling there is a pullback or a dead cat bounce. Also some key factors in the coming week which can trigger a pullback can be Cool off in Crude Prices, USD INR and Improved Q2 earnings from heavyweights like TCS,...
Technically Nifty is in down trend but I have explained on the chart
Tomorrow range is 10210-10450 and
if breaks 10,190 then down further
if breaks 10,480 then up further
On Oct 8, 2018 Nifty can move down upto 10,220 and recover from there. Be ready for bullish rally in coming days.
If there is big negative news or rupee fall heavily then it can move down below 10,200
Nifty Spot as on 4th Oct - 10599
The momentum of selling pressure, global sentiments and macros indicate that, this is the start of the NEXT BEAR PHASE...!!
Important Support Levels as on Monthly Chart are mentioned on the chart above.
Bulls Need to give a Monthly Closing above 10400 to avoid break of the bull run trend line from Feb '16 to Aug '18.
If 10400...
Nifty is in downtrend technically, it is moving towards next support of approx. 10,800 and then 10,650 but it will bounce back from somewhere in between (10,721) of these 2 supports. please see the charts
Nifty will test the channel support around 10800 and likely break it to test it's 200 DEMA at 10770. Important Resistance Levels (purple) and Support Levels (Green) are marked above in chart.
Trade Setup :-
CMP 10850
Short @Cmp or in 10900-930 zone
Stop loss 10985
Target of 10800 / 10770 / 10750 / 10735
All the levels mentioned above are spot.
Nifty is resting at support of 10820-50.
Global sentiments like Rising Crude, Depreciating Rupee, Rising Bond Yields and not to forget Trump threatening to impose sanctions on India are the major reasons of such big selloff.
These negative sentiments will shift Nifty lower towards its 200 days exponential moving average(DEMA) placed at 10770. As per Options...
With a good 1000 points bull run, NIFTY needs consolidation before beginning a fresh run
If NIFTY closes below 11570, book your portfolios
11350 would be first level to watch out for re-entering longs
