As we can see on the above chart, Nifty & Nikkei have two different Corrective Structures . Nifty and Nikkei is a ABC and WXY correction respectively. So the Right Side in the short medium term is down or turning down . Now we expect that the correction will be completed in the end of third quarterly, 2023. At this moment we only identify Nifty with bullish...
Nifty is moving in a rangebound triangle. There would be a good move on any of the sides once it breaks the triangle/trendline on the upside or downside.
If it breaks on the upside we can expect a rally and if it breaks on the downside we can expect a breakdown. Until then we can expect consolidation within range.
Nifty was trading in a range from quite some time.
Upper Range 9600
Lower Range 9000
Yesterday it broke the range to the downside and closed near its low @8823
Today Nifty opened gap up @ 8961 , but could not sustain and took resistance at range lower band around 9040 levels.
Today's high - 9030
Today's close - 8879
Now what to expect tomorrow ?
If it...
Nifty has formed multiple divergences on 30 min and 60 min time frame.
This shows clear weakness in index.
Though more analysis of the chart patterns can be done, the analysis is still same.
NIFTY is sell on rise mode now.
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...
As per my last post Nifty get Support from 8080 level and went upside but pattern not give view on further upside. I am going to review the wave count and come to the new support at 8035. If coming days Nifty fell to 8035 we can expect lot of buying on this level. The upside should be limited for this month as 8311 and trend will continue on next month also.
Wave...
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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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...
