NIFTY is trying hard to break the 18300 levels. If it manages to close above 18300 with decent candle on the hourly chart, then further upside towards 18400 can be expected. Until then, wait and watch. Failing to break it may take it back to the 18200-18250 zone.
Disclaimer: I am not a SEBI registered investment advisor. Views are only for purpose of my own education.
DATE: 16 JAN 2022
TIME FRAME: DAY
Sell Below: 18192
STOP LOSS: 18287
TGT 01: 18015
TGT 02: 17535
We are not S E B I registered analysts. VIEWS EXPRESSED HERE ARE FOR OUR RECORD PURPOSES ONLY. Please consult your personal financial advisor before investing. We are not responsible for...
According to this setup
Closing above 18690 will make nifty more bullish and this previous all time breakout will take it up to 19600.
19600 will be monthly target and can be trigger on any good news which may come on budget.
Before budget retracement till 17600 will make this breakout more successful.
On the flip side weekly closing below 17600 will change...
NIFT50 has risen into my bullish price territory; it closed @ 18255.75 on Friday.
So, it could be that the wave v (gray) of iii (green) was done, and a short setback is next.
Short term, it is important to stay above the latter possible wave iv range from 177987-17655.
Corrections often pull back into the range of a wave iv of one lesser degree!
Today Nifty opened Gap Down and Below Trend Line as expected but took resistance near
trendline and buying line came to our buying Zone Bounced from there and closed making a
bearish candlestick pattern Evening star near Yesterday High.
Look for Buy Near 18022 & 18148.
Look for Sell Near 18257 & 18426.
Tomorrow Nifty Opening inside todays range can see support...
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NIFTY is forming a range. There is a gap in NIFTY that can be filled on the downside if the index sustains below 18140. It would be good to go long above 18275-80 levels for 18350/400. However for the expiry on 20 Jan 2022, The current OI data on NSE shows a lot call writing at levels 18300 and 18400.
Whatever side the Index breaks, it would give a good move....
My detailed analysis on NIFTY 50 index based on pure price action theory.
The process of reversal is set to be staged in NIFTY INDEX
If 18221 respected by smartsellers waiting at reaction zone will kick this index to 14670,
failure of keeping this zone negate this view.
logic behind this idea in NEO WAVE theory ; when wave 5 completes its journey in equal...
Disclaimer: study purpose
Nifty view next week
Market expecting consolidation
Buy above 18300 target 18400 weekly target | max 18590
If open range downside 18100 as weekly target | max 18000