Nifty 50: READY FOR Correction/ Crash!Attached: Nifty 50 Daily Chart as of 7th July 2023
Price has closed below PDL marking the End of the 5 wave rise that makes up either the 3rd Wave or the C Wave
In both case, whether it is there 3rd or the C Wave, post completion of a 5 wave impulse be it whatever degree of the wave, there has to be a Retracement at the very least
Price has 2 downsides going as per the Retracement:
Target 1= 19200 (Gap Area)
Target 2= 19030 (Super Trend Support)
On further break below 18975, the Downside can accelerate to fill the 3rd Gap @ 18815
Last Line of Support is 18640....
Shortsignal
Bajaj Auto Formed Shooting starBearishness appears overpowering the stock fueled by weak sales data for entire Q4, when compared to YTD.
6th April's candle indicating bears in power with long wick, which is also coinciding with Harmonic Potential Reversal Zone with some buffer points.
With Above the High of 6th April as SL, downside moves may be witnessed on chart in coming sessions.
Let's see.
Manappuram Fin - Short in 1hr TF if it breaks the support levels🔴DISCLAIMER
***** It's just for an educational purpose, So you must also follow your own technical analysis before taking up the trades ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
Ideal Target and Stop Loss should be minimum 1:2 RRR (Risk reward ratio)
After reaching our targets, Book 50% Profits and trail your stop loss to get maximum profits from rest of the 50% in your trade.
Nifty on decline. Following wave pattern
Nifty is in 5th wave (drawn in orange).
Nifty completed all 4 waves fully and have taken the last wave which should move it to 15500-15800 level.
Nifty should reach this level somewhere in between May 09 and June 06 2022.
Inside wave of this 5th wave is drawn in blue. As per that the current upmove of Nifty should take it to 17400-17460 and then the decline should continue.
Disclaimer: This is just my view on Nifty. I'm not a registered advisor on market analysis. The idea is published only to spread my views on Nifty and gather feedback to cultivate healthy discussions. Please do your due diligence before investing your money. Remember, you're responsible for your investments.
SELL PVR BELOW 1610PVR has given breakdown of a bearish pattern known as ASCENDING WEDGE.
The measured targets can be upto 1450 but 1550 is a hurdel to cross as it is supported by 200 ma on a 4 hour timeframe.
RSI is weak
MACD below the signal line.
SELL BELOW - 1610
Targets mentioned in the chart above.
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SHORT - TATA STEELExcellent Shorting opportunity in NSE:TATASTEEL ,
as metal sector looks weak for next few weeks, it will be safe initiate a short trade in TATA STEEL.
ENTRY : Below 1220
SL : 1270
TARGET : 1180/1130/1100
NOTE :This post is just for educational purpose. Do consult with your financial advisor before taking any trade.
Thank you.
PVRNO INCOME, MORE AND MORE FUND RISING IN ONE OR THE OTHER FORM....MAYBE CAN HIT A NEW LOW IF IT GOES IN THIS WAY
Market Crashing ALERT !!!! SHORT NIFTY & DON'T INVESTHii
This is trader Kanishk
Today NIFTY ant the INDIAN ECONOMY
This is a crashing ahead. Watch full analysis and take it seriously please.
SHORT NIFTY
DON'T INVEST
This is not the right time to invest.
This is the time for traders
we can earn only by short selling.
Thank you.
Sell now & buy stocks on Diwali 2020, Nifty analysis Multi-frameNifty 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 nifty has broken (9500) very crucial support coming from major trend line since 2009 after it made bottom of (7500), yesterday it has tested support (9500) become resistance (9500). With these nifty will see having selling from here and will continue its downtrend.
Daily chart analysis of Nifty
The downtrend will emerge soon, what we have seen on weekly chart. On Daily chart we are seeing flag and pennant pattern in downtrend (powerful pattern) pennant is a consolidation zone and we are at the end of consolidation meaning soon we will see down turn and new bottoms. (Another way to look, flag can be seen as Elliot wave A, pennant wave B, and Wave C is coming)
After seeing down force and long term/ Mid term charts analysis we will see nifty will take support somewhere between 6326 and 4773. It will depend on how things will turn out in future and how much force it goes down with.
I hope this analysis will help. If you agree with analysis hit like, and Its ok to disagree. Please help me with comment below either way. :)
-Ankit Salgia
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