Nifty correction can start anytime as prices seems to be going below short term averages and soon it can start a downtrend with lower highs and lower lows. Profit booking is going on at current levels. Also SEBI restriction on derivatives is not good news for market as it will hugely impact liquidity and hedging cost will increase for institutions. Supply for...
Nifty breakdown levels,,, Breaking today's low will take nifty to further down side. Weekly candle close below 17166, more down side possible as per fib levels !!!!
LONG time charts ,weekly,monthly are easy for deciding the market direction. daily charts are the lowest time frame in elliott wave analysis to count sub waves. if you want to trade tension free ,follow daily charts take position for a weekly and monthly targets. A simple idea is shown in the above chart. we have completed 2 legs of corrections as wave 'A' and 'B'...
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...
So far NIFTY managed to climb after any consolidation from last MAY 2020. BUT the rosy picture now is visible in todays price action.(09/07 Friday) the final wave of the consolidation(c5) is not a 3 wave abc correction as like c1,c2,c3 andc4. wave 3 of c5 formed as motive wave(more than 1.618*c1), hence it is a negetive bias (bearish) MONDAY 's (12/07) price...
Bearish Gartley Harmonic pattern Sell Nifty at 11940 stop loss 11955 Target 11880, 11820
Bearish harmonic pattern Bearish shark pattern or Anti shark pattern PRZ 11995-12005 view invalid closing above 12025 stop loss 12030 Target 11950 Second Target 11880-11900 Final Target 11800-11820 Time - within in 3 days
The coming days are expected to be very volatile because of Mega events in near future (US elections). Nifty is short for me. If Monday i.e 05.10.2020 opens gap down and the down fall continues and breaks the important levels of 10,800, we enter the bear phase. Bullish view only above 11,600 (closing).
Nifty started falling after breaking the lower trendline in the daily chart. Considering the sharp fall, it seems Nifty should fall at least till the 38% retracement level in the first move down (wave A).
Nifty could be forming a flat pattern. If Nifty breaches the (b) wave lower trendline, then it could follow the path shown by the blue arrows. (A break out from the upper trendline could you create other possibilities, one being as shown by the orange arrow).
Nifty seems to be in a corrective pattern. So there are many possibilities for its movements. It broke the LTL of the upmove today, so the corrective pattern shown by the arrows might be a possibility..
Nifty broke out out of the consolidation and has chosen to follow the orange path as shown in the previous update. This is also in line with the Nifty wave count posted earlier (links attached). The wave (v) down now seems to be subdividing. We have the following wave relations: (ii) > 0.618*(i) and (iii) = 1.618*(i). Thus, 0.38*(iii) <= wave (iv) <= 0.5*(iii)...
Continuing on the idea posted previously (link attached), Nifty has almost reached its first target of 11,390, which is an important support level. Now there are 2 possibilities: 1. It reverses and goes up (as shown by the orange arrow). 2. It gaps down and then fall all the way to the 100-161% Fib extension (11,192-10,783). I feel the 2nd possibility is more...
Bearish Crab Pattern Completion Market is consolidating for past two days Nifty has Double top formation near Crab Completion Though it took out my stops on previous trade, we got another chance to enter at more better spot with Double Top. While I am posting this its forming bearish doji, enter this trade after the current candle closes in Bearish mode We...