Nifty 50 looks like its bullish move is done, at least for the short term. The RSI and macd
seems to be weighing heavy for at least a short bearish move to the 100ma around 10466.
If you are already in, might be a good time to get out if price action drops below the 7ma.
Maybe wait for that bounce off the 100ma.
Nifty brushing on to 5 DMA. Closing the day below this DMA will be the first sign of correction (and it may not be for weakness). A healthy correction over a month long uprise can be a good thing for bulls.
Hello Traders,
N50 is still runing from high to high! Yesterday it achieved the high @10631 of Feb. 27, which was the end of a wave ((b)) upward correction, this was itself part of an a-b-c decline that ended in an EDT-pattern. A rare and specific pattern which occurs only at the end of an impulsiv move of wave 5 or c!
At 10638.35 a possible double top for ...
The Nifty 50 Price Index has already formed the Left Shoulder and the Head completely. Now to confirm this patter just wait for the price to form and complete the Right Shoulder as well. If this pattern fully completes, then there will be a huge sell off in the market and the 9000 price mark might be tested thereafter. The price did also break the Trendline and ...
https://www.tradingview.com/x/yw0WBiXZ/
This is different style or type of analysis i am publishing. To do this analysis i am using RSI indicator along with price action.
In 220 calendar days RSI showed divergence 8 times. Once the divergence was witnessed price moved minimum 3.5% in expected direction.
When i said expected direction let me be clear about ...
Hello Traders,
I wish you all a happy Sunday and I hope you are enjoying the weekend so far Today, we will have a look at the Nifty Index from India and the USDINR. First of all let me explain to you why I use the Indian currency rupee to forecast the possible move in the Nifty.
That is a so called intermarket relation. First of all, we need to understand that ...
Nifty is holding resistance level and formed doji on daily chart. Bulls need to make extra force to give break above the resistance line, if not then will move towards downward support channel.
Nifty has Been sustained above 10530 since last 4 trading sessions which shows bulls are trying to be in. Since last two trading sessions dojis are formed which technically tells us that traders are confused.Close and sustain above 10580 will take nifty to 10680-10700, But sustain and close below 10580 will lead to 10480 which can be again good buy opportunity ...
The two-year bull run of Indian stock market since March 2016 is due for a breather. Sensex touched a new all-time high of 36443 on January 29, 2018, ushering new euphoria amongst people. Markets do not go straight up or down, they do so in steps. We are expecting a step-down 2018 for 90% of Indian equities. And we do not expect the new highs to be taken out for ...
Cloud high of 9770 may provide support. During 2016 correct also Nifty managed to bounced near to Cloud high . Even thick cloud indicating strong cloud support zone and it may not be easy task for bear to penetrate cloud support zone .
Hello Traders,
N50 has made a fresh new weekly high @ 10594.2, exceeding the 1.618 Rt of the length of wave ((1))! At todays high N50 has retraced 50% of the distance from the correction of 11171.35-9951-90. So, an open target within an impulsive move is the zone at 10705.84 for a wave ((5)) move.
A/D-Ratio was strong @1.5 this day, on the other hand Volume by ...
If Option Table is anything to go by, there is no significant sign of bulls being weak yet. Some profit booking is visible on the higher strikes of PE. We may see price breakout of the narrow range as the signals are emerging at this moment.
NIFTY consolidating on the weekly chart forming a pitch fork. Likely to move towards 11500 this year. If loses support of the median line (magenta colour) it may 8995-9000 levels to cover the gap it formed (in the yellow highlighted box in the middle), before regaining momentum.
MACD and RSI suggest a positive outlook in the near term though 10650-10700 can be a ...
