According to rising wedge bearish pattern. Nifty weak if not able to cross the upper trend line. Also up side momentum will be very slow for time being. Below i have stated upper levels with the help of fibo extension But if somehow it breaks the lower trend line. There will be fast moves after breaking the major support which is 22000. Bollinger band middle support is also 22000. It can also bounce from the major trend line support too. Like previously bounced 4th times. Likelihood of this time bounce is rear though.
Also this is bit long term view minimum 2-6 weeks. Analysis done in 2h 4h timeframes for bigger picture.
Scenario1 Targets (based on fibo extension)
L1 22363
L2 22473
L3 22556
L4 22644
L5 22769
L6 22919
Scenario2 (best case)
L1 21800
L2 21550
L3 21285
L4 21130
L5 20980
L6 20800
L7 20650
L8 20480
Bonus levels
BL9 20280
BL10 20150
BL11 20030
Keep this in mind. Options is a dangerous instrument to play. Please do not go wild on anything unless you know exactly what you doing. And market can always prove me wrong and i take that rights too. Best way is. Keep the one side view when level breaks then keep booking the profits. Enter again in bounce with proper SL/risk management.
DISCLAIMER: I AM NOT SEBI REGISTERED ANALYST.ALL POSTS ARE EDUCATIONAL PURPOSES.NON ADVISORY, DISCRETIONAL NO CLAIMS,RIGHTS RESERVED.I AM NOT RESPONSIBLE FOR YOUR PROFIT OR LOSS.
Also this is bit long term view minimum 2-6 weeks. Analysis done in 2h 4h timeframes for bigger picture.
Scenario1 Targets (based on fibo extension)
L1 22363
L2 22473
L3 22556
L4 22644
L5 22769
L6 22919
Scenario2 (best case)
L1 21800
L2 21550
L3 21285
L4 21130
L5 20980
L6 20800
L7 20650
L8 20480
Bonus levels
BL9 20280
BL10 20150
BL11 20030
Keep this in mind. Options is a dangerous instrument to play. Please do not go wild on anything unless you know exactly what you doing. And market can always prove me wrong and i take that rights too. Best way is. Keep the one side view when level breaks then keep booking the profits. Enter again in bounce with proper SL/risk management.
DISCLAIMER: I AM NOT SEBI REGISTERED ANALYST.ALL POSTS ARE EDUCATIONAL PURPOSES.NON ADVISORY, DISCRETIONAL NO CLAIMS,RIGHTS RESERVED.I AM NOT RESPONSIBLE FOR YOUR PROFIT OR LOSS.
Nota
i think today's gapdown wont be bought. My personal view.Nota
Slightly bearish closing. Nota
closing is still in the channel. I think move can come after the monthly expiry.Nota
Given one small warning. Same small patter of the main analysis small pattern. Nota
Current situation below. It wont be easy to climb this stiff leader now for the market. Nota
Nifty looking more bearish.110 points target against 27 points SL. sorry while i am typing its shooting.
Nota
Still holding for the target. Nota
Finally i got my target. Sorry didnt updated. Because it was busy day.Nota
Nifty is almost touching & crossing the upper rejection band. lets see.Nota
Updated chart. Closing above the wedge. Lets see what upcoming trading session will show. It will become bearish only below 22k mark. otherwise sideways to bullish only.Nota
Ones it slips from upper channel. you will see the power of bears. Another reason it it's trading near to the upper bollinger band line. Chances are very high for the stiff correction if it doest hold these levels. Zatke marega kyuki bull market hai but it will iron out all zatkas ones long liquidation kicks in.Nota
Good shorting levelNota
Weak opening will be a first key to down trend. if it lift up fast then be cautious. Think that still upside rally left.Nota
Yesterday last 1 hr candle closed above the channel. If it still stays above the channel guys dont short. atleast one 1hr candle should close again now below the wedge to weaken the trend.Nota
22500 will be make or break zone nowNota
Becoming bearish. Channel rejection visible. Investors stay alert.......Nota
Out of the wedge channel now. Investors stay alert.......Nota
Brutal fall started as indicated yesterday.Nota
Now people will say shorts. Maine top pe bataya tha. Nota
Nifty already gave bearish closing below the main channel trendline. Levels for monday.Nota
Still bearish closing for me after the bounce. Will look for short if it doesnt go in upper channel.Nota
Standing at 50% rejection levelNota
Happy Holi to all!As i said nifty is still below the main selling channel & at 50% fibo rejection. Not a good sign for next week open.
Nota
Today's levels for NiftyNota
Closing below 038 fibo. Still bearish for me.....Nota
Nifty entering again in the main buying channel. After the week selling & consolidation.Nota
Imp level. Nota
Nifty bearish angle.Nota
Still channel rejection there with double top M pattern.Nota
Double top M pattern rejection from the channel. immediate major support will be 22120Nota
Past level worked like the charm. next new levels. Nota
Again taken channel support now. If break this it will become super bearish again. And if sustain this it will be super bullish again.Nota
Previous day it broke the channel but today it has reclaimed. which is bullish sign only.Nota
Next trading zones. Nota
Nifty at make or break levels.Nota
current status. last and final support is 21800. After that break you can directly see 21000 only. and if takes support from 21800. Still selling can come on upper channel bottom point 22300.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.