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Nify50

nifty detailed analysis for 3-11-2020observations 1.vertical lines drawn on a regular interval of 38 days, it has been observed that whenever price crosses this cyclic lines, price goes down and then take a up move ( shown by pink arrows) . according to this pattern nifty should go up from here 2.we also have a head and shoulder pattern ( bearish in nature). It is very interesting to note that the pattern is completed just the day before US election. 3.A downside move is quite possible from here due to bearish pattern but nifty is making dozis since 2 days on support line. it is not looking in the mood to go down right now 4. nifty is taking long term RSI support of 54.38 level, it will be difficult to break this line. 5. why nifty made dozi today - as we know that reliance holds large sharing in nifty , it was down by 7% today but bank nifty was up around 1000 point, so nifty was saved by bank nifty shares . the bear bull fight ended with zero control. this much move in bank nifty compels to think "why", why bank nifty was so much gained today. many reasons possible but it seems that big operators want to clear their positions before big US election thing. 6. after this much large gain , shorting is also possible in bank nifty . 7. Reliance will play a big role tomorrow in nifty , it may look like that reliance behaved out of proportion today but it didn't . it completely followed technical. please follow the analysis for details . tomorrow it shall rise 8. nifty levels for bears- 11470 for bulls- 11810 ( if breaks this then 11850)
NSE:NIFTY
by Tradernawab
Where is the NIFTY50 heading? The short answer is that I don't know! As I keep saying, I don't own the future. I'll say what I see and my inferences. 1- Wide zone of congestion approaching - likely to cause hesitation. 2 - A rising contracting wedge. 3 - A retracement on the 1D time frame up to near 76.4%. None of this is predictive of anything. Markets do as they like - or more accurately, as the FED likes them to. Yes - the FED also rules the Indian markets and nearly every other market around the world. Based purely on the technical picture the probability estimates are for: 1 - hesitation 2 - a 38.2% retracement down on the rebellion. Note that I have shown two possible projections. I have seen markets do very strange things. This is not advice to short or go long on this or any other market. Disclaimers : This is not advice or encouragement to trade securities. No predictions and no guarantees supplied or implied. Heavy losses can be expected. Any previous advantageous performance shown in other scenarios, is not indicative of future performance. If you make decisions based on opinion expressed here or on my profile and you lose your money, kindly sue yourself.
NSE:NIFTY
by Captain_Walker