This one is for swing traders.. As we can see there are two potential patterns yet to be formed. Why do I call it as "Potential patterns ", well as of now none of the patterns are near D point completion, so that's y its potential patterns. Just think about the advantage of it, We just don't care whether Nifty moves Up or Down from 7880's. Bcos We are Armed &...
Nifty likely to face strong resistance in 7910-7935 range & High possibility of market inching lower
Price clears minor swing high. Time to draw a upsloping fork. Let's see what is in store now.
Nifty Monthly chart shows Downward trend with first support @ 7100 and second level support at @ 6400..
The start of a red renko bar shows weakness. But still would make sense to wait for a complete bar or break of the trendline above
NIFTY is inching up to it's final resolution, completing it's 5th wave. we are very close to the reversal zone. I don't see any point taking any fresh long position, except any intraday trade. once NIFTY achieves its minimum levels, look to short the market for a sharp decline.
Price reaching Renko resistance level and 7 period RSI reaching saturation levels. So a short after a 50-100 point rise.
This is the start of Wave 5 : After touching its low of 6825 !! Wave 1 of wave 5 has broken its upper trendline support !! Now it needs to cool down as it is now overbought on Daily charts -- Expecting 7500/7400 as end of wave 2 in coming week by 11 May'16 !! Once Nifty breaks the upper Trendline again it would confirm start of Wave 3 of Wave 5. Some...
NIFTY50 top formation ard 200DMA? note prior runs
Bearish Harmonic RSI Stochastic Bollinger bands
Its very rare to squeeze out very good risk reward ratio's while trading with cyphers. Even sometimes we may have faced situations like inverted risk:reward in cyphers. But we have rare chance, where the bearish cypher on NIFTY 50 offering risk reward 1:3(approx.). Cyphers D leg in Nifty is now on par with X. As all conditions of cypher is still valid its good...
We expect Nifty spot which is currently near the range of 7889 to touch 7778 in short term.
Points Noted in the Chart, 1. Elliot Wave 5 Impulse leg completions 2. Bearish Crab Pattern Completion 3. RSI in Overbought zone I would wait for the next bearish candlestick for the confirmation. After Confirmation, T1: 2342 SL: 2610
NIFTY has been trading in a small range since 2-3 weeks. I work on a proprietary system to generate BUY/SELL signals. The signal has been to go short and that NIFTY will not go beyond 7800 till the end of May 2016.
Target of 8000 is achievable in months to come. It just depends how it will reach there. I have put two different type of situation to rally up to the said level. The market can turn around at this point to 7240 and then rally back to 8000, or else other marked way. It is good to note that market has begun its uptrend and now it is a matter of how well it...
Expecting NIFTY to sink. ::: RISK CALL ::: STOCHRSI is rising. RSI is rising. CCI is rising. We are expecting a reversal in NIFTY and it may sink with great speed. Short Bellow 7358, 7295, 7008, 6945 Caution: The above is our personal view. Neither a recommendation nor a tip nor an advice for trade. Please consult your personal financial advisor before investing.