nifty has delivered positive return 9/10 in the month of june - july.
by considering june low to july high nifty has delivered 8.5% on an average from last ten years.
june low to july high return shown in chart from 2011-2021
9/10= positive closing
catching the lows of june will...
currently nifty is trading in the last leg of wave (A) i.e A(5th)
5th wave could be contracting or expanding.
in case of,
- contracting 15930-15750 will be the target.
- expanding 15214-14950 will be the target
*PLEASE CHECK THE RELATED IDEAS*
dmart is trading at at strog support zone which is supported by trend line and 50% retracement of fibonnaci from ATH to ATL. i.e 3242
3250 is the good zone to buy, also dmart is down by 45% from all time high
nasdaq index is making lower lows ,exactly reversed from 200ma and broken recent lows.
so this has confirmed that nasdaq100 has entered the bear phase.
price target on the downside comes around 11750 from the inverted V-shape pattern.
bearsish indications which has confirmed down side:-
1)falling head and shoulder:- Tgt=12200
one can go long at these level with the target of 7540 with the minimum stop of 7140.
stock is trading at the support level and looking for the end of 4th wave.5th wave on upside could touch the levels of 7680.