SumantraChabri-NCFM-NISM

SumantraChabri-NCFM-NISM

Nifty will be in bull state if it crosses 11200 zone i.e. the upper point of the downward channel.

SumantraChabri-NCFM-NISM

Nifty has moved towards my directed path i.e. in the 11100 zone. My analysis was proven successful in a previous session also.

SumantraChabri-NCFM-NISM

We may see a correction (50% retracement) at 11100 zone, which might be the confluence of oversold zone previously observed in previous three correction. The angular shift can be compared with (1-2) wave. Then we may see another third wave.

SumantraChabri-NCFM-NISM

Nifty took support at the 11350 zone , exactly what i have predicted today before market openning.

SumantraChabri-NCFM-NISM Updated 

11350( marked by the arrow) is the strong support area for Nifty, according to the weekly chart. It might reverse from that area.

SumantraChabri-NCFM-NISM

Nifty wil be in a sustained long if crosses 11740 zone and RSI have to sustain above 50+......

SumantraChabri-NCFM-NISM Updated 

In the weekly chart,nothing happened to Nifty yet, one can still go long on Nifty , the wave pattern is clearly suggesting . Moreover , it is still maintainning the upward channel. By the by, for a sustainable upmove, the RSI must have to sustain above atleast 63-65 level.

SumantraChabri-NCFM-NISM

Same chart pattern in Nifty.

SumantraChabri-NCFM-NISM

Prajind Industries making lower highs, although maintaining above 200d moving average.

SumantraChabri-NCFM-NISM

Nifty is in upward trend.