Nifty Buy/Sell Based on fibo/gannAs per my research and analysis nifty will turn bearish once it reaches the level 19350 and may be 19421 will act as stop and next expected support level is 19059. I am not advising any one to buy or sell at these levels its my view so just consider it as consideration for your analysis
NIFTY2! trade ideas
Change in trend - 3 black crowsAnalyze the time frame:
Monthly : Candle engulfing
Weekly: Black Crows
Daily: Lower lows and lower highs are formation
1. Closed below 19375, implying negative
sentiment.
2. Exit the regression channel
3. A decrease in relative strength.
The triggering factor is,
1. 33/50 stock decrease.
2. The banking industry is the most
affected.
Moving forward,
1. The anchor candle would be critical; we could see some sideways movement, and it is expected to act as support.
2. If the nifty closes below 18600 in the following 3-4 weeks, it will be considered bearish.
To summarize, a sideways moment is likely to occur ; however, there is no need to worry; a closure below 18600 will be the price to ACT