Where is the NIFTY50 heading?

NSE:NIFTY   Nifty 50 Index
The short answer is that I don't know! As I keep saying, I don't own the future. I'll say what I see and my inferences.

1- Wide zone of congestion approaching - likely to cause hesitation.
2 - A rising contracting wedge .
3 - A retracement on the 1D time frame up to near 76.4%.

None of this is predictive of anything. Markets do as they like - or more accurately, as the FED likes them to. Yes - the FED also rules the Indian markets and nearly every other market around the world.

Based purely on the technical picture the probability estimates are for:
1 - hesitation
2 - a 38.2% retracement down on the rebellion.

Note that I have shown two possible projections. I have seen markets do very strange things.

This is not advice to short or go long on this or any other market.

Disclaimers: This is not advice or encouragement to trade securities. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
Different perspective . I do not do predictions. I do not provide advice online or offline. I do not wish to be approached by anyone seeking to recruit me to any service. I don't want anybody's money! That's final.


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