So excited to see futures chart in trading view And once again new journey starts along with the most powerful index Nifty. Strong support is seen at 11250 - 11280. Resistance is seen at 11340 - 11360.
Starting from 1st June 2020 RSI color was green means trend was bullish. After 3 months of time first time RSI has turned orange means break in the trend. Good time to sell CE or short NIfty with protection. Seems like we have made an interim top for now. Not sure how much it will go down, however 11111/10827/10575 revisit looks possible. Any current long position...
Here is a fully labelled chart of the nifty with internal wave counts. If this count plays out, its going to be a nightmarish months ahead . Get ready for several gap down opens and wild swings
The above chart shows that all of the rally in the last few months can be broken down in to W-X-Y ZigZag, which may have terminated at the recent high.
We are setting up for a massive fall thats going to be disturbing - heading to new lows under 7511. Any fall beyond that should be capped above 6340.
So there you are - a 250 point Stop loss and a possible return...
