Nifty current analysis - UP or DOWN ahead?

T

takechance

Guest
#1
#1
Here is a chart analysis which shows though a trend reversal has occured at around spot 2800 level but a clear uptrand may start only if it closes above 2957.35.

Look at the attached chart and comment please.

Thanks.
 
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T

takechance

Guest
#2
#2
Chart updated after today's market close. Nifty should close now above 2954.12 for new bullish trend.
 
T

takechance

Guest
#3
#3
As forecasred Nifty is seeing a bull run after 2957 level.

See the updated chart which shows it is just very close to 38.2% retracement level. If this level is crossed then a major rally is expected otherwise expect a short consolidation in next few days.

Cheers.
 
T

takechance

Guest
#4
#4
Exactly as predicted Nifty could not break the 38.2% level upside and started falling. See the latest updated chart.

Long position has been closed at the end of the day.
 
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