In my March 17th analysis, I thought that Wave 5 extension may have ended and we can see a deeper correction but when I re-look at the weekly charts it looks like it is the wave 3 extensions only and by bouncing off from wave A low we may have completed wave 4 and now we may be starting wave 1 of wave 5
SGX NIFTY SGX NIFTY support of 14441 critical for bounce or for breakdown Trend Line violation witnessed. Support of last swing bottom 14441 is visible. The same is being tested. Low till now 14507. On further fall and close below 14441 expect slide towards demand zone. demand zone -14065-13666. wider zone-13805-13160. resistance currently will be at...
Nifty may have completed its wave 5 structure and now its in wave c of corrective wave. Happy Investing 👍
SGX NIFTY Weekly Sideways Rectangle band 14441-15555 If breakout above 1555 is witnessed then expect a rally to 16253. As long as 14441 is not violated sideways volatility may continue for consolidation. Violation of 14441 can mark a dow theory reversal.
SGX Hourly Chart Resistance is at 15079-15100 range. Once breakout above 15100 is witnessed then expect a rise towards 15169 at least and may exceed to 15213 and 15406 depending on the speed/momentum. Support of 14900 is key on hourly chart view. Once breakout above 15100 is witnessed then fall below 14900 must not be witnessed.
direct target is now 16092
follow target 15513
This strategy is all about pre market open either its Gapup Gapdown Flat
Contracting movement leading to sideways movement along with a few indecisive candles
SGX NIFTY 4 Hour chart Positive Divergence on RSI has been witnessed. As long as the low of 14441 is not violated expect a rise towards 15067-15243 for wave d later to follow up for wave e. The above argument hold true as long as 14441 is not violated. Once 14441 is violated expect a slide to 13974 as shown in the chart. Its a correction market of sideways move...
Support is at 15065. Long Legged Doji candle with large upper shadow suggest resistance and supply at higher levels. Further rise can continue if sustains abvoe 15264. Traders long and holding the same can revise up and maintain the stop loss at 15065. On fall and close below 15065 can lead to a retracement of the rise from 13666 to 15263. The earlier breakout...
SGX NIFTY SGX NIFTY needs to sustain above the black line. Alternatively, a fall and close below 14926 can lead to a swing top . In that case the slide can be back to 13588 or below. Trend is up therefore the bias is up. Expect to hold the black trendline. Potentially look for rise till 1.618% retracement of the fall from 14769 to 13578. THe level is 15506.
First step of a successful trader is to build a Trade plan & review what he has done. This Channel is my Journey in Stock market as a Trader. This is my Trade Journal for Nifty & Bank Nifty . (education purpose for all ) Here, I will disclosed my Trade plan for trading day & review them, share my learnings. with hope that this will add value to your trade setup...
First step of a successful trader is to build a Trade plan & review what he has done. This Channel is my Journey in Stock market as a Trader. This is my Trade Journal for Nifty & Bank Nifty . (education purpose for all ) Here, I will disclosed my Trade plan for trading day & review them, share my learnings. with hope that this will add value to your trade setup...
SGX nifty levels ...11/01/2021 (1hr candle) waiting for channel breakout
Ps: Am just learning not a pro If you are good at analysing charts correct my mistake. I will appreciate that :)
As per the chart, SGX Nifty is showing a Head & Shoulder Pattern on its hourly charts. Breakout is awaited. Once a valid Breakout comes above the level of 13800, we may see SGX Nifty go to the levels of 14000 - 14100. As of now one can keep it on his radar, and wait for the breakout to enter into the trade.