Wolfe wave active in Bank nifty ,this week closing below last week closing with considerable vol will validate the setup and trigger entry ,inverted hammer on weekly charts and bearish engulfing on daily is strongly supporting the bearish views,after entry being triggered closing above wave would be SL.
Have a look at my previous target where I already predicted the drop
Let's talk about current picture NIFTY looks it will be breaking crucial support being formed from a past month it also had a nasty rejection from the resistance. All the trade details are mentioned on the chart.
NIFTY IS SELLLING ONLY AFTER BREAKING THE POINT INSIDE THE SPHERE.WITHOUT BREAK DON'T SELL.
CHART ONLY USED RESEARCH DEPARTMENT99% SORE TECHNICAL SERVER OPRATER CHART.
THIS CHART ONLY USED HIGH PROFESSOINAL LEVELS.
Dear All Members at Tradingview ,
I have explained Bearish Bat Pattern on Charts of Nifty ; Quite Sure that you will learn something from above chart & will ask your doubts in comment box .
In Nifty , PRZ was placed at 11560 & In Intraday , We got 120+ Points Move .
Basics of Bearish Bat :
• B point at a less than a 0.618 retracement of XA, preferably a...
Two serious problems in trading, which each one of us has faced at one stage or the other -- Greed and Fear. Most of us are still struggling with these issues.
According to Wikipedia Greed is an inordinate or insatiable longing for unneeded excess, especially for excess wealth, status, power, or food.
Simply put when the trader do not take profits at...
Take it as educational unless you understand the details of this strategy. I suggest you to backtest yourself, to understand entries and exits, before putting it in your trading repertoire.
Only Long trades when price > 55 EMA
Only short trades when price < 55 EMA...
Put 10k in the market, buy stocks worth 50k or more on leverage and sell at 1k profit which is 10% profit on the investment capital..That's amazing!! Isn't it?
The bad part is, the anomalies to this hypothesis adversely impacts more than 90% of time. And the so called 'better business' turns out to be a losing affair for more than 90% of our trading...
The Investment Points:
It can be observed from this weekly chart that in the bear markets of 2011 and 2015, the Index formed bottoms near 200 EMA. Those yellow circled marked on the chart proved to be excellent buying/investment opportunities. If I have to load my money for greatest investments, it will be at the same point.
Nifty Took Support...