Nifty in the past has corrected in weekly chart whenever 20 weekly moving avg crosses below 50 weekly moving avg.
will it repeat??
Looks like it
Shorters get ready..
Note: this is my personal view only
- There is a crossover of 20 day EMA below 50 day EMA
- If price gets rejected here there is a good chance that Nifty may drift lower again
-target can be a new low in coming few days
Take care & safe trading...!!!
Correction - New Blogs can be checked on left top corner as compared to right top corner suggested over the video.
Plan A - Buy in 10650-10675 zone with strict stoploss below 10620
Targets - 10780-10800 / Buy Above 10800 for 10890/10925 / Above 10925 for 10985-11,000 & More only above 11,000 levels.
Plan B - You can sell if you see index...
who are the leaders of this advance from october 2018 to december 2018 or the individual stocks like larsen,hdfc,hul ,indusind bank ,they showing weakness,already break trend line,nifty is very much weak,may be ready to fall,today first day of weak it closed lower, trendline is the best tools to know market is strong or weak
It seems wave started from 11118 is completed as impulse wave and it also achieved minimum projection(shown in my previous post) of wave C. And if we are right at identifying pattern then nifty needs to bounce sharply towards 10892. So need to concentrate on the wave pattern started from latest low 10620 to catch immediate move.
Even if wave C is not completed at...
We generally talk about breakdown and breakout confirmations. I have tried to present what confirmations actually are and how they are traded.
Some traders use indicators for confirmations, but in this post i have discussed confirmations based on price action only.
Same strategy can be used for breakouts.
Notes on the chart.
Hit like/comment for better...