In my last post I did mention about the red zone acting as resistance.
Banknifty did enter the red zone and took a strong reversal loosing almost 1000 points.
Currently it is taking support on the red line.
Both the levels are important for any side movements.
Keep an eye on GDP news too.
Play safe and Happy trade :)
Note: Views only for educational...
Nifty tried to rally with gap-up but it was not successful even after successful attempts as shown in chart and got stuck in a corrective pattern.
Call and Put writers did hold the Nifty between tight range of 10500 and 10600.
Also the support Nifty needed from BankNifty was also not seen as it was following its own down move.
Monday market probably will give...
Nifty working as per our analysis.
No matter how much information we have if we are not capable to predict Market then it is of no use.
Always try to listen to market. Market will keep you informed before making any move.
I was shouting aloud that July will be a bearish trend and probably was the first one to declare wave C in July(refer to my old posts).
Nifty has been showing Doji's in the last couple of days.
Is Nifty trying to signal a change in the trend?
The trend is Upside till now and Nifty giving Doji's means that the Buyer are exhausted or taking a break or Nifty getting ready for wave C.
Market always tries to inform you before hand if their is any change. Doji's are definitely a sign from...
After a gap up opening Nifty did not confirm any trend today.
It formed a Doji candle as shown in the daily chart indicating indecision in the market.
Nifty was caught up acting in corrective waves as per 15 min chart.
Market might give hint in next couple of days. Will update you if any.
Till then no Bull & no Bear in short term.
Long Term view is still...
Nifty closed below yesterdays low forming Doji .
The high, low of today's candle will become the resistance and support for next day.
Wave theory suggest downward trend as explained in picture.
Rest market will decide.
Happy trading :)
Note: Views shared for educational purpose.
Nifty formed a good bearish candle as I already gave a warning sign to long players in yesterday's post.
Nifty touched .618 in wave B, satisfied the condition of Fib series and reverted the trend today.
As shown in image Ema 100 is coinciding Ema 20 which is important one. Keep an eye on it too for confirmed bearish sign.
If this fall continues then Nifty will...