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.
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.
From recent high 9889 to 9117 on down side nifty has completed an impulse wave and from 9117 corrective wave may be in progress now and after completion of this corrective wave nifty can decline more than 700 points.
COMPARING OF YESTERDAY STATEMENTS WITH NIFTY TODAYS MOVE. 1.I SHARED WHITE SOLID LINE ON FRIDAY , MONDAY PRICE TOOK SUPPORT AND TUESDAY GAVE 160 PTS GAP UP OPENING. BUT COULD NOT TAKE OUT WHITE DOTTED LINE . AS MENTIONED YESTERDAY LONG CAN ONLY BE INITIATED WHEN DOTTED LINE IS TAKEN OUT. RATHER PRICE BREACHED SOLID LINE SUPPORT. SECOND CLUE OF WEEKNESS , FRIST...
Nifty multi time frame analysis.The nifty look very weak in coming months. Very good level to convert portfolio to cash / exit positions / profit booking. Or if buying is done this level it should be done with proper hedging with PUT option/ Gold. The charts are pretty self explanatory with comments at each points. Weekly chart analysis of Nifty On March 16th...
Please note that this is my opinion, in no way markets move according to my analysis. Markets can ignore all levels and move in one direction. Please use proper risk management. 1. Never over leverage, that forces you to keep very small stop losses, don't trade if you have to use full margin. 2. If it will be very painful for you, if it hits your stop loss then...
Nifty has formed a HANGING MAN candle stick on the last trading session, ideally we can expect a gap down and have to wait till the candle closes on RED...after the confirmation we can go for a SELL... But if there is a bull candle stick is formed on next session the HANGING MAN will become invalid...
Nifty declined to breakout on monthly support trend line which now acts as Major Resistance and also a retest has made.
Nifty's show off is over with 1.618 Expected a fall from April 8th
All levels mentioned on chart. Be careful in case of gaps
Nifty is rallying up to touch 1.618 in 15 mins time frame mostly today or tomorrow it might touch and fall again
Expecting a lower levels with target T1 22608 T2-21746 T3-20981 Sharp reversals from the levels possible
Bearish divergence in RSI and MACD... Take long position around 10,700-10,900
Sun Pharma - the gap between 50 n 200 EMAs is less than three rupees, 0.7%, we know how significant is this. We can also see a trendline connection earlier tops, which may see a breakout as soon as on Monday (Jan 14th). Buying above 448, with a stop loss of 436, for immediate targets of 464. Traders using derivative tools, may use vertical bull spread, once...
The stock has formed a falling wedge pattern; broken the upward resistance trendline and is sustaining above it (Bullish sign) Consistent volumes and strength picking up. A good stock for a long term perspective..