As predicted yesterday nifty following the pattern. 160++ points achieved
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Reputation: 2,908 • Yesterday 3:01 AM
Weekly view on nifty for next week trade.
Formation of descending broadening wedge in 15 min time frame.
Support levels 19490
Target 19800
holding period 3-4 days till 19490 does not break.
Only for educational purposes 😉
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No big upside targets till 18800- 18500 levels tested on downside. Vertical upside and then vertical fall. It will not stop till strong supports are tested. Retracement buying possible for 19800. But chances are very less for that.
Nifty testing 20200 are also very less as FII's ...
I know, already taken PE positions from double top pattern. Exited yesterday only. Now retracement buying is possible for fresh Selling position.
SEP FUT low is already broken no more down side move expected in Sep month. Sideways or upside move possible for tommorrow and coming 3-4 days.
44900-45000 levels can tested in next week
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Reputation: 2,908 • Sep 28 12:32 AM
Nifty today tested 19550 levels today as mentioned in previous post for swing targets.
Nifty went upside vertically without any retracement from 19300 levels, So this fall was expected.
Exited Monthly Expiry FUT today taken from 20000 levels with R:R 5:1.
Short cove......read more
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As predicted nifty gave breakdown on down side
Support zone near 44200 and 44300 . No reversal till these supports are tested
44200&44300 are support zone. Sustainable Pullback can come from only those levels
@Shivakumar1 in shares it can give breakout on either side. But indicies shows combination of trend of many shares. If it forms in indicies than it means there is selling pressure. You can track heavy weight shares of nifty or banknifty and see how many are on breakout or breakdo...
It symmetrical triangle formation. Generally ita a continuation pattern and gives breakdown. So watch out for breakouts it can be trap
Multiply the delta of particular option with change in spot price of market from previous closing. You will get to know the actual price change of option which is correct and overbought
@gauravkr200000000 no it does not show correct data if short selling is being done.
Premium change is decided by delta multiplied by change in spot price and india Vix . As banknifty was range bound today. Premium decay was more in CE side than PE side. CE was overbought in morning but market did not move upside as expected. If tommorrow market opens flat or li...
@suyashgarg for selling also upside move is needed to gain momentum and volume. Others side ways market
Spot chart does not follow Fibonacci levels. FUT chart follows it to some extent as real price action takes place in FUT charts.
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Reputation: 2,908 • Sep 27 12:00 AM
Banknifty is showing weakness and selling pressure is visible. Today traded in strict zone,this created symmetrical triangle in 15 chart time frame from up to downside. It is a continuation pattern. So more selling can come.
For tommorrow fake breakout on upside and......read more
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Possible fake breakout then breakdown as consolidation is coming on downside and this pattern ends up in distribution on downside.
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Reputation: 2,908 • Sep 26 11:28 PM
Nifty 50 today traded in a very strict range. It is in a consolidation/accumulation zone.
Forming symmetrical triangle pattern in 15 min chart time frame. Tommorrow movement can come on either side for 100-140 points. Generally this pattern gives breakdown on down side......read more
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Can go up to 45200. But sustaining that level is doubtful. Agressive selling is being done at every resistance level.