Nifty has Formed Negative Divergence on Weekly chart and also closed below Monthly Resistance level of 11750. Nifty May Come down to fill the gap near 10700-10680 But entry near 10640-10650 Will provide us good risk reward ratio for 12000 Target.Risk Reward for this trade is 1:3
Nifty Is in Strong Uptrend since mid march. Expecting Some Profit Booking Near 52 Week high of 11750 in this Week or maybe Next Week.11750 is strong resistance which would be difficult to cross as no fundamental trigger this week.Risk reward in Both trade is 1:2.Risk Only 1% of Your Capital.
NIFTY Bank Index is comprised of the most liquid and large capitalised Indian Banking stocks. It provides investors and market intermediaries with a benchmark that captures the capital market performance of Indian Banks.
Nifty Bank has been rallying for weeks breaking all time highs at 28400 a few weeks ago. There is a very strong weekly demand imbalance created...
Nifty Spot closed at 11456 and Nifty futures at 11478
A fall of 460 points was witnessed in Dow on Friday, Dow futures closed at -474
SGX Nifty closed -63 points at 11407, which is a rough indicative of the Nifty futures level. It loosely translates to Nifty spot at 11385-11395. Support for Nifty spot is at 11380 followed by a gap support at 11350.
11350-11380...
NIFTY FORMED A BEARISH CANDLE ON DAILY AND WEEKLY CHART
200 DAY MA ACTING AS A RESISTANCE
MACD ENTERED INTO BEARISH ZONE
10500 ACTING AS SUPPORT
SO GO SHORT FOR THE TARGET OF 10500
NIFTY SUCCESSFULLY BREAKS THE RESISTANCE AND SUSTAINED ABOVE LEVEL FORMED INDECISIVE CANDLE IN DAILY AND WEEKLY CHART.
NOW IT IS TESTING PREVIOUS RESISTANCE ACTING AS A STRONG SUPPORT AT 10930 LEVELS
NIFTY IS ABOVE ALL THE MOVING AVERAGES (50,100,200 DAY)
MACD TURNED INTO BULLISH
IF IT SUSTAIN ABOVE 10930 MARK IT IS GOOD TO STAY LONG....
IT DOESN'T MEAN TO GO...
LONG TERM TREND IS UP
NIFTY FORMED A BUILD UP NEAR TO RESISTANCE IN WEEKLY CHART
MACD SIGNAL LINE TURNED INTO BULLISH BOTH IN DAILY AND WEEKLY CHARTS
STRONG BULLISH CANDLE IS FORMED NEAR THE RESISTANCE
THERE IS A POSSIBILITY OF BREAKOUT SO BUY IN DIPS AND WAIT FOR THE BREAKOUT.
NIFTY 50 are taking Some Correction after Big impulse.
Trying to makes Falling Wedge which is Reversal Pattern.
if Wedge makes then we can see Nifty 9500 Support Level.
then we can see a Bounce back upto 12500.
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....
Nifty seems to have taken support close to 61.8% retracement level (10526). This rally can extend to 11000/11300. All views expressed for education purposes only.
May be (iv) completed at 10704 and projection of wave (v) is coming at 10592-10522. only confusion in this wave count is that wave (iv) is retraced more than 50%.
Please read description on chart.
Please note that this predictions are purely based on technicals so any negative or positive news can overrule this prediction.
NIFTY is showing signs of pullback. Logically macro reasons are the cause of this fall and such falls cannot sustain without strong fundamental reasons. A pullback to 11250 is suspected. Keep holding
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