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 !!
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.
My sentimental RSI has turned green , don't short Ashok Leyland now. Also my sentimental volume indicator also show's green , this mean volume has increased with the up move in last two sessions.
Happy Trading and Investing !!
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.
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...
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 !!
Nifty On weekly Chart is Very bullish as price formed Bullish pinbar and Price is getting ready for 3rd wave so entering near 11720-40 with 11660 Stoploss for target of 11900-12000. Risk Reward is 1:1.5
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 Trades using Blue Sky Plus Indicator. Spend less time in doing analysis. Just plain follow the indicator. Message or Comment to get a free trial of the indicator.https://www.tradingview.com/script/lqS4a5pU-Blue-Sky-Plus-Day-Positional-No-Repaint-with-Alerts/
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 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.
The entire wave is up as it moves from the
lower left to the upper right of the chart.
Waves 1,3 and 5 are impulse waves because
they move with the trend.
Waves 2 and 4 are corrective waves because
they move against this bigger trend.
A basic corrective wave forms with three waves,
typically a, b and c.