General Study
VSA Study
- Nifty has already tested 0.382 retracement level.
- In most of scenarios where healthy retracement is needed, 0.50 retracement is very common and usual.
- And in that case, price bounces from 0.382 first, then again come back to test 0.50 value area.
- Wherever a deeper retracement is needed it even test 0.618 value area too but it is not most often like 0.5 and 0.382.
- In current scenario, Nifty has already tested 0.382 and even given a bounce up from there.
- Now, let's close eye on it to see if it backs to good retracements or continues from here.
VSA Study
- Nifty was clearly in Stage-3 since long time
- It has kissed upper boundary thrice but has not broken-out for Stage-2.
- Now, it has broken down the Stage-3 lower boundary and seems moving towards Stage-4
- Let's see if backs to Stage3 (as we have studied on 1 Hour TF chart and on Daily TF chart, still it is at the edge of Stage-3.
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YouTube: youtube.com/c/ProfitPattern