Wave 'C' emerged as a DISTRIBUTION patten(FLAT) unlike SHARP REVERSAL(ZIGZAG).
Here you have 5 good opertunities for both long and shorts( as we PA traders like to trade both sides)
Blue line is expected path of NIFTY next week (approximatelly).
It is normal to have a FLAT pattern after a CLIMAX rally where more YOUNG traders rushing to 'BUY' the shits of MONKEY's
Nifty50 is in strong uptrend and my personal view on Nifty is bullish medium to long-term.
However, you can expect correction soon. So, for swing traders and investors correction may provide you an opportunity to enter.
That's why you need to know from where Nifty50 might bounce back. So, I draw key diagonal Support and Resistance level.
Wait for these levels...
Last week we had given a short from 12000 with 12030. The index high is 1224.55. The index has fallen like a knife from this level and made 11664.00 Low almost 336 Points in the previous week. Hope you guys have made good money last week. Now the main question is what will be our setup for this week and what position we will be preferred in a...
As expected, Nifty pulled back today. But, it could not cross the resistance. So, it's dancing between support created by previous breakout and resistance created by previous support. That's a strong support. But the weak resistance held on to its own. And the bearish engulfing candle from yesterday says bearish chart.
Take trade only when the direction is clear...
Hope you guys have done good in the last week and made some good money from the trading. I had seen that lot of peoples want to trade in Nifty and Banknifty Index just because of the volatility. I do agree that Index always has an opportunity for a knowledgable trader but the worst part is Index momentum is very hard to predict in the Intraday and...
#nifty50 has reached an important level i.e 11200,
Why Important - As its a level from where we had seen straight fall in nifty50.
Current Price Action Observation
Check the size of the candles of the last two rallies, most of them were indecisive candles.
Check the difference between the peaks, they are contracting.
Currently, price action, suggesting that the...
The channel here contains all the price action that has happened from March Lows. Currently this channel has enough room on the upside to allow for any major rally. If the worst is over than this channel should continue to hold and we will only witness a breakout on the upside eventually.
On the contrary if we see that prices break below the lower trend line it...
Seeing the Sgx nifty, we can expect nifty to opens gap up.
Tomorrow, If we see nifty opens gap up by 300 points or so, at 9560 it could take a halt for a while and can move towards 9700 levels.
And if it opens above 9770 then it can take support at 9550 levels and then move towards 9700 levels.
Major support for gap up opening is around 9400 -9380 levels
Last week candle was a big bullish candle which opened near its low and closed near its high however the said candle looses its importance because its formed at multiple price resistance .
Thursday closing came at 9859 and seeing the weakness in the US markets we are expecting a huge gap down opening in our markets.
Support levels for coming week 9250, below...
Nifty has done Rising Wedge formation.
Rising Wedge is a bearish continutaion pattern.
The previous Downtrend + A Rising Wedge = Possible Downside Breakout.
Caution: avoid trading until the breakout is confirmed.