Varthagamseivom
Nifty analysis for Aug 5th to 9thThis analysis is purely based only supports and resistance...
There are support lines are drawn S1, S2 , S3 in monthly time frame.....
As per the drawing and my view, Nifty will move down further as per drawings.. also note once nifty break down @ level of 10730 there is high chance for huge fall or gap down expected till level of 10380...
May be this targets are achieved with in this before 9 th August 2019... let’s see in this week...
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Will Nifty touch 9468 ?????? Weekly analysisFollowing points to be noted... if nifty break out happened @ 10750
1) Fib golden ratio is .382, .5 and .618..
2) Nifty character for every retracement level is .5 in default...
3) currently nifty closed perfectly in trend line and fiblevel of .236
4) next level is .382 @ 10100
5) further next level is fib level .5 @ 9470.. also trend line is also crossing fib level of .5....
So nifty still in down trend ... so based on the above points, there is the chance for nifty will come down up to 9470... and stoploss hunting will happen at next level of .786 @ 9000
Let’s see how nifty will perform in coming weeks.... hit like if u like my analysis...
Will Nifty form double bottom by hitting level @ 11111 ?Note: this analysis not for intraday..
As per my analysis nifty perfectly hit the support, which was act as an resistance previously..
if it breaks in 1 or 2 days it will go to the next target level and form double bottom @ 11111.......
Not big difference only 308 points more ... In current situation nifty will easily hit this target... currently closed @ 11419.....
Since this is day chart time frame this target will reach minimum 1 week...
Let’s see in coming week....
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Asian Paints double TopAs per the Analysis, Asian Pains made double top and hit dynamic resistance of trend line.
This indicates the market reversal pattern. So down trend expected already distribution happening while checking lower time frame.
So this expected downtrend possibly. target will be 1437.00
If downtrend failed and break out done above 1550 this his as per Fib level 1678.. (But changes are low.)
Bank NIfty Target - 28750 - 2 hrs chart....In Coming Weeks Bank Nifty is expect to Fall in up to 28750.. Since this is 2 hrs time frame.
previously i also posted this.. this updated of the previous one.
Target will reach minimum 1 Week to 2 Weeks.
Target is 28750...
Lets see in coming week..
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Biocon Rounding Top - Weekly Chart- Not for Intraday.Biocon formed Rounding Top..
since this is weekly chart analysis the time duration for the target is 2 weeks to 4 Weeks.
Entry should be taken only if the breaks fib level of .618 level..
Note: There is chance for reverse @ .786 level. because the characteristic of Fibonacci is .786 level in day chart.. take this as first target.
Then final target is Fib level 1.
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