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Nifty 50 Intraday View & Trade Setup for 22 January

NSE:NIFTY   Nifty 50 Index
Nifty Update
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We have seen a dot reversal and huge correction in yesterday's trading session from the hourly harmonic PRZ. The main question is does the negative sentiment will continue or we will see a short-covering today?

In the chart you can see 3 patterns . 2 Were already completed and did their job now third is active and the target of the third pattern (Half Bat) is 14,450 to 14,426. which is still far away from the current level but still need confirmation.

Short
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14560 is the key support for today Intraday short if Index break this level and sustain lower sl is 14600 and Target is : 14,500/14,450/14,430

Long
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Long position can consider only when the pattern failed Level is 14,650 Stop loss : 14,590 Target : 14,700/14,750/14,780
Trade closed: target reached

Comments

very impressive analysis
I also have done some analysis on NIFTY but on the Daily timeframe and i believe it is at the overbought zone and it is time to short it , have a look at my analysis and let me know your opinion

+1 Reply
Can you please give us the similar information on BANKNIFTY also, thanks
+1 Reply
Very good views all the time always love your stoploss I'm a small reader who follows you in telegram and love your views on the market and would like to join your class one day sir!!
Reply
,,❤️🙏
Reply
🙏❤️
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Thankyou
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So buy pe if opens below 14560 or wait?
Reply
Experience seen in chart sir...thank u
Reply
Beautiful
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