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Niftytrendanalysis

Nifty50 Trend Analysis Corrected ChartEverything is same except the sub waves of Wave 3, which is corrected for its degree from minor to intermediate. It is currently undergoing Wave 4 correction. Support is around 20860 level which is also at 38.6% Fib level and key support level as highlighted in green dashed line. Minimum target for Wave 5 can be around 23000 level, can go higher only if upside break out happens. Maximum target can be 25400 level. Wave 5 is more likely to be extended as Wave 1 & Wave 3 are of equal length. Use this correction as buying opportunity in specific stocks or sectors where bullish chart patterns are visible. Avoid stocks which have rallied too much. Do your own due diligence before taking any action. Peace!!
NSE:NIFTY
by Swastik24
Nifty50 Trend Analysis as per Wave TheoryIt is currently undergoing Wave 4 correction. Support is around 20860 level which is also at 38.6% Fib level and key support level as highlighted in green dashed line. Minimum target for Wave 5 can be around 23000 level, can go higher only if upside break out happens. Maximum target can be 25400 level. Wave 5 is more likely to be extended as Wave 1 & Wave 3 are of equal length. Use this correction as buying opportunity in specific stocks or sectors where bullish chart patterns are visible. Avoid stocks which have rallied too much. Do your own due diligence before taking any action. Peace!!
NSE:NIFTY
by Swastik24
35% fall incoming for Nifty?This is just my speculation on how Nifty 50 will perform for the next few months. As per my technical analysis, if Nifty hits ATH (~19000) in the very near time, then there is a chance for our market to go down from there. Either its 20%(~15000) fall or 35% (~12500). Why? 1. RSI indicates a divergence. 2. Price will be testing the main resistance for the third time after the covid recession. 3. I just need one more confirmation (red triangle) from the nadaraya indicator as shown in the graph at the top level (ATH maybe), to close my holdings. As of now, I'm in the side of 20% fall. 35% fall may or may not happen. And one more to add up, the recent fall in US made it to reach the pre-covid level. Whereas our market haven't gone through a healthy correction yet (to the pre-covid level), which is still a worrying factor. I expect Reliance and Banking stocks will drag the market down to pre-covid levels. Reliance weekly chart is too week for me, keep watching 2600 level. P.S : Its not based on Fundamentals!
NSE:NIFTYShort
by VigneshRaja-UthayaKumar
4
Nifty 50 Analysis from COVID-19 LowsNifty 50 Analysis from COVID-19 Lows: Primary Wave (1): Think of this like a big upward movement on a rollercoaster that started on March 23, 2020, when the Nifty 50 index was at 7511.10. It reached a high point on April 27, 2020, at 9889.05. Wave (2): After the first exciting ride, there was a dip. This dip ended on May 18, 2020, with the index at 8806.75, which was about halfway down from the highest point of Wave (1). Wave (3): Then came another exciting ride, but this time it had a lot of ups and downs. Wave (3) ended on October 18, 2021, at a high point of 18604.45. Wave (4): After the thrill of Wave (3), there was a pause. Wave (4) acted like a rest stop and finished on June 13, 2022. Wave (5): Now, it's moving up again, but not smoothly. It seems like it's going in a pattern of three steps up and three steps down, like climbing stairs. Currently, it's in the fourth step. Big Event: The chart suggests that something significant might happen when the index reaches around 20600-20900-21000. It's like saying, "Hey, there might be a big turn or surprise on the rollercoaster around this point." So, it could be a good idea to think about taking your gains or profits when it's near 20.5k. Just remember, investing in the stock market can be unpredictable, and it's wise to speak with a financial expert or do thorough research before making any investment choices.
NSE:NIFTYLong
by imkhushal
9