Nifty had a continuous 5 day bull run and it has reached the 14000 mark.
Nifty has been working in the channel as shown in the chart.
And whenever it reached the upper line of the channel it gave correction.
Nifty is currently at the upper line and hence looking at previous Nifty run's we can expect a correction very soon.
As traders say "Corrections are inevitable in the market." So just be prepared for any sudden moves from Market.
Stay safe & Happy Trade.
Note: Views only for educational purpose. Consult your financial advisor for any trade.
Nifty has been working in the channel as shown in the chart.
And whenever it reached the upper line of the channel it gave correction.
Nifty is currently at the upper line and hence looking at previous Nifty run's we can expect a correction very soon.
As traders say "Corrections are inevitable in the market." So just be prepared for any sudden moves from Market.
Stay safe & Happy Trade.
Note: Views only for educational purpose. Consult your financial advisor for any trade.
Comment:
Nifty is still trending under the upper line. Hence our idea is valid till the upper line is not breached. Will keep posting on the same thread till something new is found..
Comment:
Nifty breached the upper line today with gap up and closed above it.
If tommorrow's candle also closes above it then our idea of correction will postpone for sometime.
WIll post if any more new findings.
If tommorrow's candle also closes above it then our idea of correction will postpone for sometime.
WIll post if any more new findings.
Trade closed manually:
The upper line is breached continuously for 2 days. Looks like market is in no mood to do correction as of now.
US market looks weak as of now. Keep a tab on it.
Any fall their will start our correction process. Till then let’s take a break on it.
US market looks weak as of now. Keep a tab on it.
Any fall their will start our correction process. Till then let’s take a break on it.
