Dear All,
Its a Consolidation move as ABCDE inside a expanding triangle.
My Long today hit SL, though i kept in a tight range. Sudden change in Divergence is a biggest trouble in this move. Hope this move may continue till thursday. Tomorrow 17140 / 17190 may offer a selling chance again. Lets See. Cheers!!!
Dear All,
Its a Harsh Sentiments with Sell off - Very difficult to follow up trade with Divergence from Indicators.
OI data Suggest a Good Support @ 17000, If 17000 Holds, may see a minor Pull Back Rally. I don't have any Longs now.
Dear All,
September Month was so Volatile and devastating month so far, Gap Up and Gap Down makes us struggling to manage the existing position and for fresh entry also. This move is really a Consolidation phase as 3-3-3-3-3 which don't follow any proper retracement rules or Corrective structure also. This week I have elaborated some major indices move and what can be the possible move next.
> NIFTY HOURLY CHART <
So far Nifty has completed 50% of this Consolidation. As i have mentioned above, Monday and Tuesday are crucial, as the support 17260 & 17160 Must Hold. Else this analysis negated and fall to continue.
> BANK NIFTY HOURLY CHART <
Bank Stocks might give a Break out rally if Bank Nifty holds the support 39420. Bank Nifty decides most of the market move including NIFTY50 as many bank stocks have higher weightage and move Nifty also. So its very important for Bank NIFTY to hold for the benefit of entire Market.
> NIFTY IT DAILY CHART <
Rising Fed Rates worried Indian IT Stocks.
On March 2020 - from 11990 - to 39446 on Jan 2022, Now Corrected till 26500 may See a Short Term Bounce as mentioned above. IT Support is much needed for Market to stabilize.
> NIFTY METAL DAILY CHART <
Metal Index - may get channel support and Tata Steel consolidation news also. Support @ 6010.
Dear All,
Have booked my Longs today Morning, as I felt todays Upmove was a Corrective in Nature.
Today I have shorted and I feel if given support breaks we may drift down badly below 17640.
Current Move giving a Gap up or Gap down makes very difficult to take an entry and carry Over night.
Correct Entry / Exit will help to survive. Let's See how market Open tomorrow,
Will I able to Book a Profit ? Lets See. Cheers!!!
Dear All,
NIFTY Hourly Chart :-
Key Support @ 17500 & 17360. On a Bullish View, We might have ended Wave2 of 5th Wave, Hence If the given support holds, we may see a Up Move next week.
Bank NIFTY Chart :-
Entire world in Negative in Equity Market, But Bank Nifty is not such negative till date. A bit of consolidation for wave 4 Possible as per above 15 Min chart. Lets see.
Dear All,
Going to be a Buy on dip, Crucial support and resistance to be noted down.
Cheers!!!
Dear All,
Is this a Bullish Flag Pattern ?. Lets wait for the Support to Hold. We need a Confirmation tomorrow !!!
Lets Wait for Support 17750 to Hold & US market to show some sign for a Normal Opening tomorrow.
Dear All,
I'm Holding Short in NIFTY
Watch Key Support 17630 for a fall till 17450.
Dear All,
