After a long Time Bulls are failing to Hold on. Let the Bears start smelling Blood.
The time cycle line has acted as a strong support for the Nth time.
The recent support comes near 21800 which seems to broken in coming days/weeks.
Condition: If 21800 gets broken decisively. Downside risk upto 21500/300 opens up.
Utilizing Elliott Wave theory, I've conducted a thorough analysis of Nifty 50, indicating a prevailing bearish sentiment with a compelling case for an impending correction towards the 21100-21000 range. Here's a breakdown of my analysis:
1. Identification of Ending Diagonal and Subsequent Impulse Move:
- In January 2024, an Ending Diagonal pattern commenced,...
The selling pressure continued in spite of 21900 lending support. Finally the bears managed to break and took the Index to 21700 making one thing completely negative as the much stronger support one of 21770-840 giving up easily. The subsequent sessions provided relief for a recovery past the 22K mark and ended the week with a positive candle, giving some hope for...
Second winning strike of bulls and took control over market and made days high that is 22180 level.
Nifty has formed big green body candle with upper and lower shadow.
Candle is taking support of 50 days Moving Average line.
Nifty is able to hold above on 22000 level so that next hurdle level can be 22115 and weakness could be seen towards 21831 level.
Today’s...
Nifty Analysis - Stance Neutral ➡️
Recap from yesterday: “Momentum is still something Nifty50 was not able to find so far, mainly because follow-up buying or selling was just not there.”
4mts chart
Nifty has become really unpredictable and is taking all the professional traders on a wild ride. We opened Gap-down, and the 3rd candle went through the support of...
Nifty breached its 50-DMA and the current distribution day count stands at three. In the broader market, there has been persistent selling pressure as Nifty Midcap and Smallcap have breached their 50- and 100-DMA, respectively. We will change the status to a Downtrend if the distribution day count increases or if Nifty fails to rebound and breaches another...
Nifty making simple LL,LH structure . Expecting it to continue moving down by testing the Supply zone ( 22134 - 22197 ) marked on the picture. If the Protected Swing high get's taken out, we'll change our bias to bullish again.
This is my personal analysis, for my personal trading
Im not SEBI Registered.
There is a good chance that the seller will come to the market on Tuesday. That's why you have to be alert. Because the market has seen high MOMENT from GAP zone. Even if the market comes down, high support will be seen at 22000. If the market looks bullish then use BULLISH towards 22150. Seeing that there is a 60% chance of getting rejection from 22200. ...
Nifty Wave Count and Trend
Trend - Bear
Stoploss @ 61.8%
Target 1 Y or A
Channel will be updated after new high of wave B or X
wave B or X target 50% to 61.8%
Standard deviation 1
Support = 21958.10
Resistance = 22264.55
Standard deviation 2
Support = 21804.15
Resistance = 22426.65
Normal Distribution and Stock Prices:
The underlying assumption when using standard deviation to measure risk in the stock market is that the majority of price activity follows the pattern of a normal distribution (also known as a...
We are seeing a fall in Nifty in second half of the session. Sell Nifty around 1:00 PM today, we have marked the crucial resistance levels, try to sell as close as you get.
Sell Nifty: Around 1:00 PM and near crucial important resistance levels.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear...
Nifty on daily front formed a doji an indecisive candle.21900 undier still bearish, somehow it tried to find support at low of 21700 area today but in any case one more test to it could break that level 21500 can be easily acheivable on lowerside. On higher Higer only above 22000 bulls can be trusted.
21825 Below Short targets of 21765,21715,21700,21650
21950...
Nifty 21839 - nifty move was as we expected and based on today’s move we expect nifty have more possibility to open/move high to 21933 to 21977 for the call sellers to close their position and move down to 21700 to 21640 and raise to settle around 21775.
