The previous high nifty made was @ 10137 on 2nd August 2017.
Now it is about to test the same high again. There will be strong resistance between 10137 to 10150 (being round number).
If it closes above 10137 - 10150 on daily chart it should be a buy with stop-loss at 10128 (...giving cushion to avoid whipsaws).
If it tests 10137 it may retrace to support @...
Technically, Nifty is expected to bounce from support of 9685; and if it successfully does so then the next target would be 10128 for the 5th subwave of the 3rd.
My only concern is the bearish global market sentiment due to geopolitical tensions between US - N.Korea and India-China Doklam standoff heating up.
If the Nifty trades below 9685, I would consider it...
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Now lets deal with the analysis in weekly time frame and just understand what is happening over there.
We have already...
Greetings Traders & readers,
ONE Happy news for all, from this month we are about to release FREE insights on NIFTY FUTURES for current contract, in the beginning of every month - starting today...!
As you can see from the chart we are about to discuss the analysis on NIFTY in weekly time frames
but before that lets also take as deep look at the monthly...
Sorry for the discontinuity as we were engaged in some other obsessions
Now to the Analysis,
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THE LONG AWAITED YEARLY ANALYSIS ON NIFTY IS BEING PROPOSED & the same is gaining attention of all fellow trader. why miss your seat. check it out here,
After that do revisit this...
Nifty is expected to sink now.
There are many reason why we feel it may sink.
01. It is already trading below quarterly Target 03.
02. Bearish Engulfing in weekly chart
03. To sink and come near 6943 to 6880
04. Stoch RSI (3,3,14,Close) clearly states it may sink.
05. RSI(14,CLOSE) Is also of the same view.
06. CCI(20,CLOSE) Is also sinking.
Keeping all the...
