Nifty updated view with latest calculation on wave theory
I am having now slightly neutral to bearish view on nifty - Lets see which way it takes turn in short term...
The setup is approaching multiyear breakout zone..momentum looks good and if it breaks out ..sky will be limit ...
Nifty was forming LH, LL structure on 45 min time frame since last few weeks. 16456 was the level to be watched out which was previous swing high and if that was taken out today in break away gap, so temporary structure have change. Now it is approaching a good resistive trendline ..and is still trading below 200 DEMA.. Lets see what we have in store for...
My analysis and view for nifty short term...................................................................
Nifty possibly going towards 14200 and may form Bullish Butterfly pattern and 14122 may act as PRZ ..
Nifty forming XABCD pattern - good swing trade an be initiated for a target & SL mentioned in charts
Nifty seems to following AB=CD path and we may see 16200 level and that may act as PRZ zone for bullish reversal ...
Nifty is looking scary - Bulls get ready to invalidate it ...else punters are doomed ....
Avadh Sugar has given a good breakout today and potential swing trade idea as per targets mentioned on chart
Nifty 50 long term daily chart, downward channel breakout and breakout retest done ..if tomorrow closing happens again in this channel then more pain full days else market may bounce or go sideways from here
NIftyIT index after a bull run in last few trading session has corrected to 38% fib retracement and has taken good support here today .. Tomorrow's session will be important to see if this is just a healthy correction or we can have more downfall
nifty pharma daily chart ..bullish pin bar formation even in such a weak market ..good sign for pharma sector to bounce back from here
Nifty pharma weekly chart - lets see how this week goes by ..as overall market is weak ..
Nifty Phama index on a good support level in monthly chart
SBI Cards is taking support at CMP level(904) and can be added for swing trade to reach target of 1000/1100/1160 in coming months positional SL on closing basis 850
Gati is making nice cup & handle pattern and if gives a good closing above the levels mentioned ...we can enter positional swing trade for a target of 240
Follow levels marked in the chart ...in case of flat opening expect nifty to follow trend line marked and the take resistance immediately at 17350..