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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
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