Nifty - A holistic view for the coming weeks
Hi all, it's been a long time since I posted an analysis on Nifty. If you haven't checked out my last idea, be sure to check it out to get a better understanding of how the price moved in the last one month.
Let's see how the price is moving now and what all we should look at!
- The price gave a clear down move from 16800 to 15200 level, without any significant pullbacks. This indicates a strong selling pressure and a clear sell side imbalance.
- The HTF structure is still bearish as evident from the market structure. The price is forming lower highs and lower lows.
- There are a lot of supply zones, swing levels, and unfilled gaps on the upside that should act as resistance.
- If we see the swing from 16800-15200, the price is trading at a discount. The HTF sellers will try to sell any rally in the Premium zone.
- The HTF remains bearish until and unless the prices closes and sustains above 16800.
- On LTF, the price has tested the supply at 15600-15700 and it seems like the supply has been absorbed because the zone seems to be acting as a new support.
- I am also posting the distribution and accumulation schematics on the LTF just for the Wyckoff traders.
- All the important LTF levels have been marked on the charts along with the psychological level of 16k.
- There is an old LTF supply area at 15900.
- If the price manages to push above, expect it to test 16200 which is also a strong supply area.
- How the price reacts in the vicinity of 16k will decide the future course of Nifty.
Thanks for reading! Hope this was helpful.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (johntradingwick)
Community Manager (India), TradingView
Let's see how the price is moving now and what all we should look at!
- The price gave a clear down move from 16800 to 15200 level, without any significant pullbacks. This indicates a strong selling pressure and a clear sell side imbalance.
- The HTF structure is still bearish as evident from the market structure. The price is forming lower highs and lower lows.
- There are a lot of supply zones, swing levels, and unfilled gaps on the upside that should act as resistance.
- If we see the swing from 16800-15200, the price is trading at a discount. The HTF sellers will try to sell any rally in the Premium zone.
- The HTF remains bearish until and unless the prices closes and sustains above 16800.
- On LTF, the price has tested the supply at 15600-15700 and it seems like the supply has been absorbed because the zone seems to be acting as a new support.
- I am also posting the distribution and accumulation schematics on the LTF just for the Wyckoff traders.
- All the important LTF levels have been marked on the charts along with the psychological level of 16k.
- There is an old LTF supply area at 15900.
- If the price manages to push above, expect it to test 16200 which is also a strong supply area.
- How the price reacts in the vicinity of 16k will decide the future course of Nifty.
Thanks for reading! Hope this was helpful.
Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.
Happy learning. Cheers!
Rajat Kumar Singh (johntradingwick)
Community Manager (India), TradingView
Rajat Kumar Singh,
B.Tech (Delhi Technological University)
Global Community Manager, TradingView
✅ Telegram: t.me/johntradingwick
✅ Blog: tradingwick.in/
✅ Amorella: amorella.in/
B.Tech (Delhi Technological University)
Global Community Manager, TradingView
✅ Telegram: t.me/johntradingwick
✅ Blog: tradingwick.in/
✅ Amorella: amorella.in/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.