The_Trader14

The_Trader14 Updated 

As told in yesterday's post Bank nifty tried to retest the level and came back down. 2200 acting as support as of now. Hopefully Banknifty breaches this and moves down in coming days. Wait and watch begins. Play safe and happy trade :) Note: Views only for educational purpose. Consult your financial advisor before any trade.

The_Trader14

As informed in my yesterday's post. Nifty was in consolidation stage and 10700 was strong support. Nifty almost gave 100 points after breaking the support. Currently it is taking support on 100 MA and if this breaks tomm expect a downward rally until 10350 or more. Happy trading :) Note: Views are only for educational purpose.

The_Trader14

Nifty is at the consolidation stage as shown in the chart and Bank Nifty is also started trending down. Wait till Nifty cross the major support of 10700 and for downside fall. For any upside move Nifty has to cross 10900 and then only we can expect it to move upwards. Data points bearish. Note: Views only for educational purpose.

The_Trader14 Updated 

In my Picture EMA 200 is in orange colour and Nifty is bouncing at it showing a weakness to cross on daily chart. Yesterday BNF has cross the 22500 strong resistance and it was very much expected to reach 23000 after crossing the hurdle. And today it is trending around their. But 23000 resistance is another strong resistance for BNF and 200 EMA is strong...

The_Trader14 Updated 

Nifty will be filling a gap up here if it breached 10692 which happened couple of day back. Advised to traders to wait till 10633 is breached in 30 mins timeframe for a short term bearish momentum. If it crosses the lower blue line convincingly in 30 mins timeframe then it will go into long term bearish momentum. Longers wait again till Nifty clears the upper...

The_Trader14 Updated 

Bank Nifty still did not break the parallel lines even though Nifty climbed new high. I smell something cooking :)

The_Trader14

Nifty has completed its Wave B retracement. Is Nifty going to start Wave C? Will July be the Month of a new trend? Other data points are not supporting the Wave C to begin in July as of now. Hence we have to wait for confirmation till 17th July as I will review all data points then once again for confirmation. Because my analysis says Mid July will start the...

The_Trader14 Updated 

Nifty did move only in between parallel lines touching all the points as shown in the image and formed wave B. Expect a breakout downwards tomm on expiry. Do not mix this smaller waves view with the big cycle waves mentioned in my previous posts. Note: Views shared for only educational purpose.

The_Trader14 Updated 

Dow Jones travelled a similar path as Nifty did. The arrow show the path of Dow jones exit to Wave C. Currently it is in the initial stages of forming a new wave. Beautiful isn't it, the way Market travels from one point to another. Happy Trading :)

The_Trader14 Updated 

Nifty wave B satisfied Fib .618 resistance. Long traders trade cautiously and stay intraday, do not carry long positions. Lets wait and watch what markets decides.