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 is approaching our first resistance at 1159.03 (horizontal overlap resistance, 100% Fibonacci extension, 61.8% Fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 11292.70 (100% Fibonacci extension).
Stochastic (34,5,3) is also approaching resistance and we might see a corresponding drop in price.
If you overlay the SPX from its last low on May 3 to the NIFTY chart, there is a very good fit up to the top, and the recoveries are similar to the SPX on Nov 7 and Dec 3. This suggest NIFTY may not have had its crash yet (although optimists would say NIFTY was ahead, fully corrected and recovering).
January will tell, but there is little support before the Sep...
Wave 3 completed, initiates wave for, ABC pattern to target 8000, the 50% Fib retracement support of wave 3.
wave 5 to target 18000 in coming 5 to 6 years time frame.
BUY THE DIPS FORM LONG TERM GAINS.
Nifty Has formed strong bearish Candle on Daily Chart and Price may go toward the strong support of 11370 for Intraday.
This week my view will be bearish on Nifty. Best sell level will be 11430-11425 for the target of 11390-11370
Nifty has broken the previous life time high trend line and again took the resistance at 11050 level. this week nifty could see profit booking from strong supply zone of 11088-11150. I will sell if price comes at 11090-11120 Level with the stop loss of 11200 for the target of 10900-10800
Nifty is In Downtrend Channel which is formed in Dec 2017.Now Nifty Has broke uptrend channel formed in March 2018. Nifty hAs strong Support at 10466 which is 200 EMA and also 50% Retracement at 10450. So buying can be Seen Near 10450.So This Week I will Wait for this level to Buy and to Short I will wait for 10674-10700. If Nifty Dont Sustain and Break 10450 then...
Good evening Traders,
Since my last update on NIFTY it managed to break the resistance level which I mentioned here.
But now after breaking the important level, I am expecting more upside. But first NIFTY needs a correction lower.
My view is that if NIFTY can break the rising...
We have seen profit booking is the last two trading session which was expected. I am still bullish on Nifty and my strategy will be buy on dips still it doesn't cross the H4 Trend line and daily support of 10428.Thanks to Mr. Trump and Syrian controversy that nifty will open gap down on Monday. I will recommend buy on dips.
Recommendation- buy Only near 10425 with...