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Rising Wedge

NIFTY TREND SETUP FOR THE WEEK NIFTY TREND SETUP -from past few weeks i am explaining nifty is in a "bullish bias" -to understand please go through my nifty and banknifty posted charts -you will get an idea how we were able to maintain our bullish view -coming to the new post of nifty let see what is cooking up -our rising wedge pattern is confirmed (read previous post) -nifty is making a move to test "61.8% retracement level" -and also its 200-ema both now placed in the zone of 10420-10520 -!!yes!! again i am "bullish" this week -the reason is quite simple i don't know whether someone has noticed!! -that after the gap down on 11th march it is the first time!! -that nifty has mananged to "close above 10175" -!!yes!! nifty everytime gaped up and was sold into -this rally is different after 3 months nifty actually managed to close above the level of 10175 (please watch the "yellow" line closely on the daily chart) -this is a major reason i believe that market can test 10350-10520 beyond that we will need to dig deeper NIFTY TRADE SCENARIO -any dip towards 10160-10180 is a buying opportunity -intial target should be 10275-10320 -if breaks then we can re-enter aggressively previous post on nifty index
NSE:NIFTYLong
by manavtechresearch
4
NIFTY INDEX TREND SETUP NIFTY INDEX TREND SETUP -NIFTY WITNESS ONE OF THE WILDEST SWING THIS WEEK -THE CRUCIAL PART THAT I AM EXPLAINING EVERONE IS THAT 9950 WAS NOT BREACH ON A WEEKLY CHART AS WELL ON DAILY -THE SHORT COVERING RALLY IN THE INDEX PROVED TO BE VERY VITAL -THIS INDICATES THE STRENGTH IN BUY ON DIPS MARKET -20 AND 50 EMA WERE TESTED GAPS WERE CLOSED AND THE PRICES MOVED ON -WHAT IT CONFIRMED ON A DAILY CHART IS A "FALSE BREAKOUT DOWN" -200-EMA IS FALLING -INDEX IS STALLING -NIFTY CAN KEEP CRAWLING TOWARDS 10440(61.8%) ZONE NIFTY TRADE SCENARIO -WHENEVER THERE IS A FALSE BREAKOUT WE EXPECT FIRST THE OPPOSITE BOUND TO BE TESTED (10330) -"BULLISH MARABUZO" CANDLESTICK PATTERN VISIBLE -NIFTY HOLDS ON TO ITS SUPPORT OF 9950 -I KNOW SGX IS INDICATINGA NEGATIVE START BUT STILL NOT BROKENDOWN I EXPECT MARKET TO RECOVER ON MONDAY -CRUCIAL TO REGAIN 10030 WHICH IS ALSO ONE OF MY CRUCIAL SUPPORT LEVEL AS WELL AS 100-EMA ZONE -NEXT LEVELS TO BE TESTED 10130 10165 10220 10275 10330 -ON THE DOWNSIDE 9880 9830 9750 -WILL ALL ACT AS SUPPORT FOR THE MARKET "WHAT IS CONFIRMED IS A VISIBLE RISING WEDGE PATTERN FOR NOW" "INITALLY I THOUGHT IT MIGHT BE A BULLISH CHANNEL" (CHECK PREVIOUS CHARTS) "BUY ON DIPS" RECOMMENDED "MY VIEW IS CLEAR WE CAN BREAK OR TEST 10330"
NSE:NIFTYEducation
by manavtechresearch
21
NIFTY might fall in the coming days.Considering 3 patterns Rising Wedge, Bollinger Band and MACD it looks the NIFTY and the whole Indian Market might collapse. Rising Wedge - The chart clearly shows a rising wedge a break from that too. So knowing rising wedge, it looks like the market might fall in the coming days. MACD - The signal and the MACD line seem too stuck to each and considering the already falling pattern, the line might cross over for a fall. Bollinger Band - The mean line seems to have lost the grip of the candles. If it does happen get a grip it still seems like a falling pattern. It would interesting to see what happens on 18/05/2020.
NSE:NIFTY
by varun7691