NIFTY WEEKLY CHART ANALYSIS -SINCE 9TH 2017 OCT 9950 HAS BEEN A CRUCIAL SUPPORT FOR THE INDEX QUIET A FEW TIMES -REMEMBER HIGHER THE TIME-FRAME STRONGER IS THE SUPPORT/RESISTANCE -WE TOOK LOT OF TIME TO BREAK ABOVE 9950 INITALLY -BUT SINCE OCT OF 2017 WE HAVEN'T GONE BELOW IT -DUE TO THE PANDEMIC THE LEVEL WAS FINALLY BROKEN IT TRAPPED SOME SHORT PLAYERS -BUT EVENTUALLY GAVE IN
FIBO-LEVELS -CURRENTLY MARKET REVERSED FROM ITS 50% RETRACEMENT LEVELS ON THE INDEX -ALMOST SAME LEVELS ARE VISIBLE ON DAILY CHARTS
NIFTY DAILY CHART VIEW -IF ANALYSIS ARE TRUE ON THE FIBO AND PRICE ACTION WE CAN CONFIRM THAT WE MIGHT HAVE SEEN A !!DEAD CAT BOUNCE!! -DAILY CHART SHOWS NEAR SUPPORT AT 8910-8950 AS SUPPORT ZONE -BUT SEEING THE MARKET REACTION ON MONDAY MAY CAUSE THIS SUPPORT TO BE A WEAK ONE
NIFTY VIEW -PLEASE NOTE TRADE WITH CAUTION -I AM NOT USING ANY INDICATORS E.G MOVING AVG ,RSI,MACD ETC. -REASON BEING THAT THE VOLATILITY IS SO HIGH AND DAILY MOVEMENT IS CAUSING LOT OF DATA TO BECOME OBSOLETE/MEANINGLESS -THERE WAS NO ROCKET SCIENCE THAT NIFTY WOULD REVERSE FROM LEVELS OF 9950 -WE ALL KNEW IT WAS A CRUCIAL RESISTANCE TO CRACK WHICH WAS POSSIBLE ONLY BY EXTERNAL FACTORS -EXTERNAL FACTORS -NOISE FROM THE MARKET(NEWS) -DEVELOPMENT OF CURABLE DRUG/VACCINE FOR CORONA-VIRUS -STIMULUS PACKAGE BY THE GOVT.
-REMEMBER EXTERNAL FACTORS MAY CAUSE THE SHIFT IN THE MARKET DYANMICS BECAUSE AS OF NOW MARKET IS ABSORBING THE NEWS GOOD OR BAD
!!PLEASE WATCH OUT FOR INTRA-DAY TRADE VIEW ON STOCKS AND INDEX FUTURES!! !!STARTING FROM TUESDAY!! !!9:30-10:00 A.M!! !!QUESTIONS ONLY AFTER MARKET HOURS!! !!HOPE TO START THIS FRESH SEGMENT ON REGULAR BASIS FROM NOW ON!! !!PLEASE PING ME FOR ANY STOCK RELATED QUERIES WILL BE AVAILABLE!!
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NIFTY CHART DAILY VIEW
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SGX IS INDICATING A START ABOVE 9380 I AM LOOKING OPENING NEAR OUR LEVELS BUT WE NEED NOT CREATE POSITION IN THE OPEN A RISE TO 9420-9450 IS IDEAL TO CREATE POSITION STOP WILL INCREASE TO 9600
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POSITIONAL TRADE ACTIVE SHORT@9450-9460 STOP@9600 TARGET-1@9120 TARGET-2@8970
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RATES ARE AS PER SPOT PLEASE ADJUST FOR FUTURES
Trade closed: target reached
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!!FIRST TARGET WAS HIT!! !!RISK AVERSE TRADERS BOOK YOUR PROFITS!! !!TRADERS HOLDING FOR A LOWER LEVEL TRAILING STOP IS @9280!! !!WAIT FOR FURTHER UPDATES!!
Well Written ,got to know many things from this reading ....and i have been looking on your stock updates too and are very much satisfying as per your levels....