Trader's Roadmap Jan, 2022 - What I expect on Indian Market?Few market moves will destroy 99% of the Traders who are involved in them that why I arranged to give you a whole week or month of NSE's Perspective.
The spot nifty hourly chart:"at an exciting juncture". it is difficult to say at this juncture for other analyst whether this upturn can be sustained.
But, I'm going to share few important levels where you can take position or create a trade-setup.
First observation should, the trend is down. By the looking at chart from left to right hand-side, the price is defining lower low(W,Y and Z) and low high (1X and X2). So I picked, Oct. 18605 high and Dec. 16410 low and found "Bullish Triple Zigzag corrective pattern".
If you expect the trend is continue lower or downward, equality ratio can give you a important Resistance levels. After the ending of point of Z wave, ((w))=((y)) at 17574. The 17600 is equal of wave a and c but 17503 is first upcoming resistance a=c 0.789 ratio.
Trend reversal key level wherein we need to reconsider our wave count : 17640 lower high.
So, currently the is expected downward because the price is under 17640. If any of above resistances registered, the next first targets 17077 and ...
Let's little attention toward the DJIA.
Can we see new high on DJIA?
