Long downtrend, Pullback can extend till 8000. Resistance Zone mentioned in Chart. RSI and OBV too showing positive divergence.
Levels metioned in Chart. Short on Break Below - 2483. T1- 2362 T2- 2158
Nifty Monthly Elliot Wave analysis. Looks like Nifty Primary Elliot Wave is in Wave 4 for Impulse Wave. Can expect nifty Reversal at 9850 range. Wave 4 should reverse at 38.2 Fibo retracement. Wave 5 will be another Big Wave on uptrend.
Bullish Harami in Daily chart. Nifty Long with T1 :10830 and T2:10895 SL : 10702. Risk Takers: Trade now. Risk Averse : Wait for 10830 breakout and buy with 10830 SL and Target 10900.
Nifty Entering Supply Zone. Big sellers will plunge to action. Make sense to hold short positions.
Nifty Formed Shooting Star Pattern on daily Candlestick Chart today(11-06-2018). Unable to decisively break resistance 10830. In case nifty close behind 10780 , then sell with Target 1: 10720 Target2: 10615 with SL 10850 which nifty touched today. Intraday play on 11-06-2018 , Sell nifty once 10780 breached with target 10720. S/R Derived from 1 day and 4 hour Charts.
In 4 Hour CandleStick Chart , banknifty tested resistance of 26700 and pulled back. In 1 Day CandleStick Chart , Banknifty formed Shooting star + Doji Pattern. This can lead to mild Consolidation for some session. On Monday(11-06-2018) if Banknifty trades negative for 1-2 hours , then Short with target placed around near term support 26075. If Trades Positive...
Nifty retraced to 78.1% of recent downtrend from 10929 to 10417 as shown above. And at 78.1% retracement pulled back and ended lower than that. In Addition to this Shooting star Formation confirms the Short term Downtrend. Shooting Start is a bullish reversal pattern formed at a uptrend. Immediate target placed around 10550 Level. While resistance is...