DO NOT PANIC IN SITUATION
20th Nov 2018 and 21st Nov 2018 fall in NIFTY occurred due to correction and profit booking
Important support around 10600 and 10550
If NIFTY holds 10620 it may move towards Resistance 10655, 10685 and then 10720 onward and also rally upto 10815
in the next week expiry NIFTY may even move towards 11350
Nifty Enter Fighting Zone Keep watch... and also form AB=CD
Expect zone 9950 to 10150
watch also Global Factors...
Possible to drop down
The information contained in this presentation is solely for educational purposes only.
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.
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, ...
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 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 :-
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 ...
Double Top and Bearish Engulfing candlestick pattern formed on Nifty. It is a signal for bear to takeover the nifty from bull. Fall will start from 10440 to 10396 / 10330 and possible to reach 10240. "Happy Trading"
Nifty Jet Planes are get ready to fly and current status on standby mode. Waiting for confirmation signal of breakout and whichever the breakout signal happen, particular jet plane will start to fly and mission target of 11000.
Watch the levels for breakout,
Breakout level 1 - 10325 (Jet plane 1 on board)
Breakout level 2 - 10285 (Jet plane 2 on board)
I will ...
Hi All ,
Everything on chart
Its just few observations from my end , Don't know Elliot or Neo wave much.
Elliot and Neo wave champs please comment.
Just for study purpose , Please consult your financial adviser before taking investing decision.
Greetings traders & investors,
This analysis is a combination of various prospects & contains a clear description for each of that
"we don't understand a movie by missing half of it".- the same is true with markets,
Let's understand NIFTY in higher time frames & continue through the same tunnel in lower degrees
There are 'n' number of ...
if the upper resistance line isn't broken then chances are nifty can reverse for another low, as all the structures made here are 3 waved structure, and it doesn't seem ready to go up just now.
Count invalidates if the line is broken.