$NIFTY Possible Bull Target & Reversal Zones #Nifty

Traders and Investors, there is a lot of joy, speculation, excitement and nervousness in the Indian stock market as it makes another all-time high today. This however can be very deceiving or a good opportunity. Depends on how to see and interpret it. 🙂 If you think this is way too high and it should take a correction or dump then it may just give you that sort of opportunity when it reaches one of those FCP zones or extension levels ahead. If you are bullish and expect market to continue rise higher then also we have these zones and extension levels as possible bullish targets.

Remember a few things about this market:

1. It has been consolidating for a while after hitting a major reversal level as you will see in the attached idea posted on Oct 13, 2021. This can still form a double top and fall down.


2. The Nifty 50 index has been taking divergence from US Indices this year. Whilst US indices fell Nity held its position strongly. But that does not mean it can no start to follow them again. The correlations come and go in time cycles.

3. This market cab target 20K level as well because that is psychological and is getting close. In terms of points, it is still too far but in the overall price action structure it is not.

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Rules:
1. Never trade too much
2. Never trade without a confirmation
3. Never rely on signals, do your own analysis and research too

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Take care and trade well
-Vik

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📌 DISCLAIMER
The content on this analysis is subject to change at any time without notice and is provided for the sole purpose of education only.
Not a financial advice or signal. Please make your own independent investment decisions.
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