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Time to move up?NIFTY moved down in the fourth wave and bounced up from the red line as expected (see below). It appears to have now completed the fourth wave. NIFTY could move up in the fifth wave (magenta) in October, which could take NIFTY up to 12200-12300. However, if NIFTY crossed the red line and confirmed it as resistance then this wave count will be invalid and further downside would be expected. PS: This analysis is just for educational purposes and is not a recommendation to buy or sell. Please do your own research and trade at your own risk. Previous analysis indicating a downward trend in NIFTY:
NSE:NIFTYLong
by ndau
Nifty going down to 10200?Nifty appears to be correcting in an ABC pattern (bigger pink wave). It has completed the A wave and is currently going up in the B wave. B wave is expected to first first take Nifty down to around 10500 and then up to around 10730 (or at the most 10850) where wave C is expected start. Wave C could take Nifty down to 10220 though this level would also depend on the level of correction in wave B. Stay tuned! Note: It is just for my own reference and is not a trading advice.
NSE:NIFTYShort
by ndau
1
SENSEX Index Another Topping Formation DevelopingSENSEX INDEX India This is another index that looks like it's topping out for the summer. The great bull campaign from the 2009 low at 8075 to a high at 36370 over 9 years is in its final stages. Echoes of the Dax here. A break below 34291 will trigger a short opportunity here back to 32516 where it should attempt to bounce - but it won't get far when it does. And once it breaks below here it should start to fall away in stages to 31096 then 29169 where it should bounce harder. If at any point over the summer 29169 gives way to bears it should fall harder still 25772 and when that breaks to 22577. A series of potential short opportunities here all summer long. Be lucky.
BSE:SENSEXShort
by sumastardon
NIFTY50 - When Will The Pullback Start?!Good evening Traders, Since my last update on NIFTY it managed to break the resistance level which I mentioned here. But now after breaking the important level, I am expecting more upside. But first NIFTY needs a correction lower. My view is that if NIFTY can break the rising trendline lower, it can retest the resistance area now acting as new support at around 10612.57 areas. This will my preferred view. However, there is another possibility. It extends now higher making a marginal new high and starts then a bigger correction lower. Let's see which one plays out. Disclaimer: Trading is about going with the highest probability, nobody is 100% right and we need to protect ourself in case we are wrong. That is why we need to always use a stop-loss when trading. Trade with care. This my current view, and any view present is not a trading recommendation just personal view.
NSE:NIFTY
by TradeFxTrends