Every Pull back towards 11450 /11600 /11750 of current move is Best Sell for fresh round of selling towards 10200 and even 9250-9450 levels .
*** This is View and not trade and this is solely for Education purpose.
Looks like we have formed near term bottom here. My sentimental RSI has turned green. So don't short nifty now , be long.
50 day moving average around 11500 can be big resistance. I wound but Aug 11000 call option and sell 11500 call option.
Going long has high probability on making money.
Happy Trading !!
I know its just a chart. I believe that we will gonna see at least this Target in this FINANCIAL CRISIS. SO Pls be CAREFULL OUT there.
ITS NO QUESTION ASK TARGET .. JUST TAKE IT...
DM ME IF U WANT TO KNOW MORE ANALYSIS BEHIND THIS TARGET.
The Nifty is challenging the multi-year parabolic curve support line. A close below 10,525 would indicate a much deeper correction could occur. The weekly chart exhibits a possible right angled broadening pattern. These patterns typically break out of the horizontal boundary. Should the parabolic curve give way the target for the Nifty would become 8250.
Sharing Demand and Supply areas for nifty. These areas will work as support or resistances. Keep them marked on your chart.
Using My own indicator of volatility for trend guidance. Check the script it available in indicators. Will share the time analysis and few important updates in coming months.
Follow the price...
This shows the internals of the expanded flat, as detailed in one of the previous updates (link attached), that Nifty might be forming. This is a rather far-fetched view and the view is correct conditional on Nifty following each of the above arrow. At this stage, this seems to be the most likely future pattern.
As posted in the past couple of updates (links attached), Nifty reversed from the 161% FE after completing an Ending Diagonal pattern at the end of wave 3 (as shown in one of the links attached). Wave 4 target is atleast 11,246 and at most 11,356. This move could be slow and choppy and hence either one can long a future with SL of wave 3 low or just ignore this up...
Nifty reached the target as posted in the previous update (link attached). It seems to be forming an ending diagonal and might move up to retrace the previous wave down. A move above wave 4 would be a confirmation (or above the upper trendine). If it continues down then the short trade can be held.
Nifty is moving down as posted in the previous update (link attached) which also has the short term view. For the long term, it seems that this move could eventually go to 10,000 giving an expanded flat pattern or 10,300 in case of a truncation.
(There's a remote chance that this is the start of a bearish market, but that'll get validated later).
We can see Pullback at Current Price 10400 but need a Reversal Confirmation to Upside-
BUY & SELL As Per Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
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#Nifty50 text book response to the rejection from 200 DMA onesided sell off once below Fridays low(Bears in the house). Nifty now has strong support betwen 10860(Weekly Kumo cloud) and 10823(Monthly Kijun) which I expect to hold but Below dat next support at 10600
Here is the nifty50 mid term analysis for you. All the details are in the chart that you need to know.
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