Niftylong
Nifty Weekly Setup- Downside PossibleNifty Has formed strong bearish Candle on Daily Chart and Price may go toward the strong support of 11370 for Intraday.
This week my view will be bearish on Nifty. Best sell level will be 11430-11425 for the target of 11390-11370
Nifty Elliott Wave Analysis: Rallying Higher as ImpulseHello Traders,
In this analysis, we will have a look at the Nifty index from India in the 4-hour timeframe.
Nifty Elliott wave analysis suggests that the rally to 11171.55 high ended black wave ((3)). Down from there, the decline to 9951.9 low ended black wave ((4)) pullback. The internals of that pullback unfolded as Elliott wave double three structure with sub-division of 3-3-3 corrective swings in each leg. Down from 11171.55 high, the initial decline to 10276.3 low ended blue wave (W) as a Flat. Then the bounce to 10637.8 high ended blue wave (X) bounce. And the decline to 9951.9 low ended blue wave (Y) of black wave ((4)) as Elliott Wave Flat.
Up from 9951.9 low, black wave ((5)) remains in progress as impulse where blue wave (1), (3) & (5) are expected to unfold in 5 waves advance within lesser degree cycles. Whereas blue wave (2) & (4) are expected to unfold in 3 waves corrective sequence in lesser degree cycles. Above from 9951.9 low, the rally higher to 10929.2 high ended blue wave (1) in 5 waves structure. Down from there, the pullback to 10404.62 low ended blue wave (2) in 3 swings.
Above from there, the index is nesting in blue wave (3) higher. Where red wave 1 ended at 10893.25. And the red wave 2 ended at 10557.7 low. Near-term focus remains towards 11458.50-11584.44 100%-123.6% Fibonacci extension area of black wave ((i))-((ii)) to end the lesser degree blue wave (i). Later on, the index is expected to do a pullback in blue wave (ii) in 3, 7 or 11 swings before further upside is seen. We don’t like selling the index and prefer more upside as far as the pivot at 10404.62 low in our distribution system stays intact.
Be Careful With long Positions.Nifty has broken the previous life time high trend line and again took the resistance at 11050 level. this week nifty could see profit booking from strong supply zone of 11088-11150. I will sell if price comes at 11090-11120 Level with the stop loss of 11200 for the target of 10900-10800
Nifty July Series Setup?Nifty Has been Consolidation between 10855 and 10592 since last last week of may. Fundamental strong trigger is required to boost the bulls but as of now rising Oil Prices as well as depreciation of rupee is the big concern.I am hoping that nifty will touch 11000 this series because monthly chart is still in bull trend. Best buy will be only above 10855 and below 10592 nifty may show 10300-10200 which shows to be impossible as of now.
NIFTY on the way to 11000?Nifty has taken support three times near 10730-10700.After a rally price has sustained this week above 10730 which shows bulls are still in command. I will be bullish on nifty for this expiry and 10855 is the very crucial level for nifty to go towards 11000.
Buy the dip medium-term opportunity on NiftyAs the 1D Channel Up broke this week (RSI = 43.705, Highs/Lows = -130.6286, B/BP = -168.1442), we should be looking at the next support levels for a possible long entry. The 1st is located at 10,552.30 and the 2nd at 10,475.19 (cross 5H SMA200, 1D SMA50). Utilize both on a tight SL for TP = 10,840. If the 2nd support breaks, it will be a short opportunity and we will see 10,146.21.
400+ UP move possible in NIFTY, Bullish setup,Corrective waveLooks like, we could be getting 400+ UP move in NIFTY in form of corrective wave, which would form 'b' wave of down ZigZag move. There are no signs of bullish move yet, we just made new lows, Lower timeframe BUY setup is still pending before entering LONG trade.
Nifty long term, wait for the market to fall below 10,000This run looks like an ending diagonal, with massive fib cluster in 11,200-11,500
NIFTY GET READY FOR A HUGE UPTREND(BULLS ARE BACK!!!)MARKET ANALYSIS: After a week of bear runs, Now the market has reached the demand zone and will be reaching the supply zone soon. If the market is able to break the supply we an see a next rally to the higher demand zone near the 10800 level. So lets wait and see what the market does in the coming days. Cheers!
Nifty : Signs of demand mixed with reluctance and hesitationBullish engulfing formed on 2 hr time frame and possibly 3rd wave ended, might form double bottom @5th wave on hourly chart if 5th wave is not very strong and demand continues to come in...
Nifty Analysis and TargetTechnically, 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 Bearish; but wouldn't short.
'Cautious' Upside bias for NIFTY50 amidst geopolitical tensions.Amidst geopolitical tensions Nifty 50 ended with a doji indicating supply was drying up. And Nifty landed on a support amidst heavy selloff due to geopolitical tensions like N korea -U.S, India-China border standoff and also 11 Aug 2017 Friday, being the last day of the week.
Technically, Nifty ended with a 4th wave on a support and might resume on upside after some intraday consolidation on monday.
I think the supply has dried up but demand is yet to come in. I have an cautious upside bias in Nifty50.
P.S. Long term uptrend is still intact in NIFTY 50 as I write this article.
Possible Wave 5 in an Ending DiagonalNifty seems to be in an Ending Diagonal and the way its correcting indicates that there is one more higher high to be made before a deeper correction. I see that we are about to finish the correction and if Nifty breaks out the correction to the upside, it could mean that its a buying opportunity.
Bank Nifty indian index long term buy setup at monthly demandStrong bullish trend on Bank Nifty Indian index, long term longs at monthly demand level around 18.750. New levels of demand created, supply zones eliminated. Price has been rallying very strongly lately, expecting a bigger pullback to go long lonterm.
Ahead of the PollsNIfty50 is likely to give its next leg rally, if the elections results are in favor of market. If not then their would be little correction, then again the rally will continue. Either way their is no stopping Bulls.
Not to go full bearish!Their is still high possibility that the Nifty will yet give it's last break out, so don't go totally bearish.
More over their will coming the results of UP elections. So the moment will totally depend on that.
Head and ShoulderNifty Weekly chart had given a huge Bullish patter and that is the inverse Head and shoulder.
I will highly recommend to Buy at any deeps or corrections.
