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 Trades using Blue Sky Plus Indicator. Spend less time in doing analysis. Just plain follow the indicator. Message or Comment to get a trial of the indicator.
Avoid going long on Nifty for short term . Long term trend is still bullish, 50 SMA is green, but on short term RSI is moving down and VIX in moving up. Avoid long on Nifty .
Happy Investing !!!
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.
11350-11380...
Elliott Wave
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.
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....
