Expecting Nifty to close above weekly and Monthly trendline for the Month Dec. Lets see how its turning out...constantly taken support of weekly trend line this week.. hope it will close above the monthly trendline .
Nifty Levels for both upside and downside .. above 23800 we can see upside moves and below 23770 dowside levels..
FII still bearish today with fresh 9000 shorts on Nifty, 24000 levels they have 55k shorts on Nifty, it would be difficult for Nifty to cross 24k levels in this month, expecting Nifty to retest 23500 levels.. further down depends on price action at 23500.. may be downtrend will happen on Expiry day till then market can do consolidation..closing above 24k , upside...
Nifty can retace to 38.2 or 50% levels and go with downtrend for downside targets of 23350 , if it crosses 23790 we can see some more upside to 23490 for Monday..
Nifty weekly candle close is below the major trend line which was in support from 2023, is broken now. 23350 to 23263 is a minor support level from which market can bounce to the trend line for a retest or go back the main trendline support for some retracement levels, Downtrend can continue once 23263 is breached , we wcan even see 21000 levels, multiple fib...
Nifty continue to be in downtrend 23872 important support if broken we may see 22825 levels before reversal...
If nifty closes two 15 min candles below 24600 in a bearish way.. we can see the targets mentioned in the chart.. hold the trade till shows a reversal sign.. we may see further down from these levels..
Nifty showing cont. strength towards upside..25k immediate target and 25500 2nd target if there is not much reversal fr0m 25k , all these levels will be activated once the Nifty crosses the recent high of 24860 , new longs can enter in to the market above this level..
Currenlty Nifty in retracement alsmost crossed 50% next level can be 25132 and if still bullish then 25600 .. then possible reversal can come..if it breaks 25600 levels we will be new ATH...
Nift took support yesterday from the daily long running channel.. can continue in this cannel for some days..
weekly view for Nifty...expecting money outflow to USA..it may fill the gap at 20k in Nifty in future before continuing the up trend..
Target of 24075 in nifty...bearish now... Fiblevel 2.618 will be below 24k, but we will got for 24k as target for safer side..
Our top was at 2.618 levels..now another down fall to 23800 as final reversal levels..
With FII with further 8% shorts today ..retracement to upper side may be limited to .382 or max .5 and can fall immediately ..
we need to see how this support will work out for Nifty..
Nifty retracement possible.. 50 and 61.8 will be a sell on rise scenario...
FII today more on equity selling , 9000 crores selling.. can expect to retest the trendlines..long positions closed by FII..
One rejection expected at 2.618 levels..with FII long today we should expect to cross the 2.618 for the target of 3.618..