Share Your Views On Nifty Trend...
- Thread starter deadbrain
- Start date
Bellow I am showing nifty Daily chart and Wkly charts side by side. I am expressing my view here. And I also appreciate if other Traderji members express their view on it.
1) Left Side: At the left side we have Wkly chart. I made my view in there. So it can break 4600 level there or it will get support and will jump up. As we all know that lower channel is a trend breaking pattern. So price has a tendency to jump up from it once some good news comes. That is a great news for us.
2) Right Side: Now from the right side that is the daily chart shows us that, price may get support st the level of 4700 - 4750. Now if it breaks that level our next support from the daily chart will be much lower. It will be below 4600. Which I have a doubt. I don't think that price will come that much low.
So I think that I may consolidate at this level or may test Trend Line 3 and will eventually break Trend Line 2.
1) Left Side: At the left side we have Wkly chart. I made my view in there. So it can break 4600 level there or it will get support and will jump up. As we all know that lower channel is a trend breaking pattern. So price has a tendency to jump up from it once some good news comes. That is a great news for us.
2) Right Side: Now from the right side that is the daily chart shows us that, price may get support st the level of 4700 - 4750. Now if it breaks that level our next support from the daily chart will be much lower. It will be below 4600. Which I have a doubt. I don't think that price will come that much low.
So I think that I may consolidate at this level or may test Trend Line 3 and will eventually break Trend Line 2.
Mujhe lagta hay, agar NIFTY kal, 4960-70 ke upor tik jaye, to a 5000 cross kar sakta hay. I have reason to say that
At the left side of the chart we have first action movement of NIFTY. It made a nice 38% retracement. Then Moved at north.
At the right side we have the last price action. Nice north side movement. It stared following a new trend line also. And made no retarcement.
Now these are the values we have
1) MA(20) - 4970 (aprox)
2) MA(50) - 4960 (aprox)
3) It is following a nice trend line.
Lets assume that nifty made one south move tomorrow. Good then where it can go? What our Fibbo retarcement says?
23% ==> 4970 (aprox)
38% ==> 4960 (aprox)
So if NIFTY has any intention to go north then this two levels are very important for us. I hope that I made my point clear enough.
Ab photo dekhe jara.
This is our chart 5 min Intraday Nifty.
At the left side of the chart we have first action movement of NIFTY. It made a nice 38% retracement. Then Moved at north.
At the right side we have the last price action. Nice north side movement. It stared following a new trend line also. And made no retarcement.
Now these are the values we have
1) MA(20) - 4970 (aprox)
2) MA(50) - 4960 (aprox)
3) It is following a nice trend line.
Lets assume that nifty made one south move tomorrow. Good then where it can go? What our Fibbo retarcement says?
23% ==> 4970 (aprox)
38% ==> 4960 (aprox)
So if NIFTY has any intention to go north then this two levels are very important for us. I hope that I made my point clear enough.
Ab photo dekhe jara.
This is our chart 5 min Intraday Nifty.
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