1) Becoz, FinMin Speech market may go up (double confirming this in the chart with bullish divergence formation)
but 11000 has a strong resistance(indicated by option chain analysis and this is a big psychological number as well)
2) In the past market is in a sideways zone between 10950 to 10600 range
3) before the market changes its direction Up or further...
Due FinMin Speech there will be short temporary Bullish movement can be seen in the market, around 11000 has strong resistance so it may again come down to test 10600-10650 level before changing the trend
This idea is dedicated to Late Shri Arun Jaitley- Ex, FM (Finance Minister).
If Index opens gap up – hold you long positions with 10795 as stop which was mentioned in status update on 23rd Aug 2019
Look for target 11025-11050 / Going above 11050 – Expect 11090-11120
Note – Do not hold your long positions in 11050-11100 zones
Last week price fall down nicely as it broke the trend line I have drawn. This week, sustaining 10840 - 10860 will push the price towards 10920, 10960, 11120 and 11180. Breaking 10760 - 10780 level will make the price to fall towards 10720, 10660, 10600 and 10520.
NIFTY 50 IS AT THE BOTTOM OF THE UPWARD CHANNEL.
IF IT STARTS IT'S JOURNEY UPWARDS, THEN 11,200 & 11,400 ARE THE NEARBY TARGETS.
IF IT BREAKS, THEN 10,500 IS THE NEARBY SUPPORT.
WEEKLY CHART HAS A "KUMO" INDICATING A REVERSAL OF THE PRESENT TREND AND THE FUTURE "KUMO" IS BULLISH.
Consistently we are achieving our targets since my 1st post we will continue as well.
Nifty Up/down very confusing for many, Who follow my previous post they know what is the current market trend.
But as intraday trader we are focused to get safe 30/50 points everyday, we will let the market where ever it wants to go.
Trading on 26th Aug is little tricky, as...
We are in a bull market and no need to panic for a bear grip. We are nearly in as much correction as Oct'18.
The 10750 zone might give us strong support for the wave 2" to be completed.
The zone shift might happen after crossing 12000 zone. Then we can see 14000 level.
Om Namah Shivay ( Om Namah Shivay means ? I,the peaceful Soul, respecting to SupremeSoul Shiva, (In Hindi - Mein Shant Atma ParamAtma Shiva ko Sanman De Raha Hoon))
(After publishing, the circles are disturbed and are automatically adjusted based on the viewing resolutions, So that is normal and expected, In this scenaio, imagine the nearby tops and bottoms...
Two important events happened, after our markets closed in last 24 hours. One, Finance minister announced a slew of measures which will give some badly needed relief to Indian businesses and economy in general. Two, Dow Jones Industrial Average (DJIA ) fell by 623 points, which is 2.37%, due to Trump's series of tweets, after China announced that it planned to...
With 2 extremes ended news (Big Growth boost by India's FM vs Increased tariffs by Trump), It would be quite difficult to say short term market movements, but above are the mentioned levels for Nifty. one possible scenario could be, Index testing the lows of 10,640 before making the up move, another scenario being, Mr. Market ignoring one of the big news.
UPPER BREAKOUT is placed by 10880, followed by some profit booking at 10935, INTERIM RESISTANCE is placed at 10984 followed by FINAL Resistance at 11070
DAILY TREND LINE is also plotted for you
Levels for the DOWNSIDE are
Lower breakout is placed at 10755, followed by some profit booking at 10705, followed by INTERIM SUPPORT placed at 10640, FINAL...