Nifty broader view on technicals

MANISH_DAMANI

Well-Known Member
#1
elliot wave is little subjective concept so no controversy it only view on nifty.
In weekly chart-
It is wave 3 impulse of correction then nifty will breaks 5548 decisively and goes upto 5365 (161.8% retracement of wave 1). If it is 3 wave correction then wave c impulse wave then correction over near 5548 and again bounce from here or new downside starts have to watched . As per envelop and kelter bands its lower band range is at 5530/5524. So seems wave c of correction technically as per. I might be wrong or right that time will tell.

Daily chart observation-
Seem wave 5 and need to retrace back upto 5754 max for 3 wave correction a,b,c. If trend revert from here then bearish then as said above some to this level. Sustaining below 5464 envelop band lower range dont seems feasible as of now and bounce aupto 5754 likely as per elliot wave principles upto my understanding.
Broader ranger for nifty is 5464-6039 in daily chart and 5530-6112 /6197 in weekly chart.
For going upside sustainability above 5670 (200 ema is important).

Due to political uncertainity sometimes market dont behaves on technicals. So these views are for normal market scenario. 5176 is weekly chart ema will be good support in worst case scenario. Below that market enter in primary bear trend.So let see time will tell.:):thumb:
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MANISH_DAMANI

Well-Known Member
#2
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MANISH_DAMANI

Well-Known Member
#3
Nifty breaks support of 5548 and also 5500. Target 5365 is more likely on card with sl of 5548.Bolinger band break down seems on weekly chart. currency rs/$ aslo weaken from morning Let see.
 

MANISH_DAMANI

Well-Known Member
#5
Nifty target as per the theory of price symmetry.

You are right also cannot be contradicted I have just posted step by step target. For all that 5464 is another support is to be broken.Generally in normal market scenario stocks, scrips, commodity cannot sustain below envelop rang for long.
 

MANISH_DAMANI

Well-Known Member
#6
nifty 20 ema-5674 is about to cross it 200 ema-5666. If that happens then more weakness could appear in Nifty. though nifty has given pull back from low of 5477 near to 5464. Now band in daily chart lower range shift to 5445. Nifty could retrace maximu upto 5666 as per today analysis. Because a trigger should be required for upward move above 200 ema. It can in pressure go upto 5365. If the trend line brokes as shown by above gentlemen then fall will be very stiff. Level to watch 5445 downside. and 5666 upside are important level. Nifty is down channel of which upper trend line is at 5642.93. and down trend line is 5443. So let see
 

MANISH_DAMANI

Well-Known Member
#7
elliot wave is little subjective concept so no controversy it only view on nifty.
In weekly chart-
It is wave 3 impulse of correction then nifty will breaks 5548 decisively and goes upto 5365 (161.8% retracement of wave 1). If it is 3 wave correction then wave c impulse wave then correction over near 5548 and again bounce from here or new downside starts have to watched . As per envelop and kelter bands its lower band range is at 5530/5524. So seems wave c of correction technically as per. I might be wrong or right that time will tell.

Daily chart observation-
Seem wave 5 and need to retrace back upto 5754 max for 3 wave correction a,b,c. If trend revert from here then bearish then as said above some to this level. Sustaining below 5464 envelop band lower range dont seems feasible as of now and bounce aupto 5754 likely as per elliot wave principles upto my understanding.
Broader ranger for nifty is 5464-6039 in daily chart and 5530-6112 /6197 in weekly chart.
For going upside sustainability above 5670 (200 ema is important).

Due to political uncertainity sometimes market dont behaves on technicals. So these views are for normal market scenario. 5176 is weekly chart ema will be good support in worst case scenario. Below that market enter in primary bear trend.So let see time will tell.:):thumb:
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Nifty behaves as per expectation after making low 5477 reversed. And bounced upto 5794. Exact number is not possible to give for any one but online behaves.It is 61.8% approx retracement of current fall from 5971 to 5477. So let see how tomorrow market behaves. A break out of falling wedge has happened.:):thumb:
 

MANISH_DAMANI

Well-Known Member
#8
Nifty could top out near 5850 if goes above 5900 as per ichimoku cloud then again biased become bullish for medium term. If retrace then retrace back to 5717-5620.
 

Raghuveer

Well-Known Member
#9
Is there a thread on "price symmetry" or equilibrium or balance. I am not sure of the words but something like the chart posted below.
Nifty target as per the theory of price symmetry.

 

MANISH_DAMANI

Well-Known Member
#10
Is there a thread on "price symmetry" or equilibrium or balance. I am not sure of the words but something like the chart posted below.
Kindly ask the gentleman posted. :):thumb:
 

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