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NSE Nifty Has unfolded Bearish Structure

Have you read the Previous report on nifty and bank nifty?

I have mentioned in clear words, “After Gap is down, if the price sustains below 16220, traders can expect the following targets: 16150 – 16036 – 15956.

Nifty formed a bearish pattern, and It was a gap down signal.

Free nse nifty chart calls

11 May 2022
[10:25 AM] – Price reached the first target of 16150.
[12:55 PM] – Price hit the second target of 16036.

12 May 2022
[09:20 AM] – Price touched the final target of 15956.
[12:30 PM] – Price made a low of 15807.

If you haven’t traded this setup, you missed a 400+ points.

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Is Pokarna Marching Towards The Final Target?

Do you remember Pokarna’s wave projection?

Free nse stock pokrana chart callsBEFORE

POKARNA had broken down the 200 EMA, and the price was declining.
After making a high of 788, the price started falling for the final impulsive wave C of wave ((4)).

I had written clear words,” Currently, the price has broken down to A wave at 585. If it sustains below 585, traders can expect the following targets: 558 – 536 – 505.”

Free nse stock pokarna callsAFTER

Today, the price made a high of 583 and started falling due to heavy supply. It was a good selling opportunity for sellers with a strict stop loss of 585.

  • 01:45 PM – Pokarna reached the first target of 585.
  • 02:40 PM – Pokarna reached the second target of 535, and made a low of 527.

If you have traded this setup, you could get approx a 10% return in just single trading session.

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Pokarna Stock Is a Money-Making Machine

Free nse stock pokrana chart calls

Pokarna has completed its impulsive wave c of the corrective wave ((4)). Wave C has traveled 100% Fibonacci extension of wave A at 548.

Currently, the price has broken down the A wave at 585. If it sustains below 585, traders can expect the following targets: 558 – 536 – 505.

505 is strong support because corrective wave 4 accomplish near the corrective wave 4 of a lower degree. If the bull fails to keep the price above this level, we can see a big downfall.

Otherwise, the price will touch the control line and then the upper band of the descending channel.

I will upload further information soon.

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NSE NIFTY & BANKNIFTY Outlook For Intraday Traders

Yesterday, I published the Bank Nifty 4-hours & weekly timeframe chart. And I had mentioned updating the morning outlook for intraday traders and our premium subscribers. Here it is:

Is Bank Nifty Resuming Its Bearish Move?

Bank Nifty is occurring in the range between 34700 and, 33370. To get a tradable move, traders should wait for the breakdown of this range.

Traders can short below 34100 for the following targets: 33803 – 33540- 33452. In this phase of declining, traders must wait for a confirmation signal. Buyers can enter above 34700.

Is Nifty Preparing For 15950?

Nifty is forming in the range of 17500 – 16340. Price will face a consolidation if it trades between these levels. We can see big impulsive moves after the price breaks this level.

Today, We will see a gap down in nifty  with a speculative boom.
After Gap is down, if the price sustains below 16220, traders can expect the following targets: 16150 – 16036 – 15956.
Bottom always takes time to be formed. A long position is only possible above 16800.

Premium subscribers can wait for the future & options setup.

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Gold Price Predictions for 2022

In the previous trading session, MCX Gold made a high of 51538 and closed at 51343 (+444). A question is, is it moving upward?

To identify uptrend:

There are two hurdles to continuing the uptrend. It should break out the 5th May high or settle above the control line.

According to the above chart, Gold is forming a bullish flag pattern. And we’re waiting for a breakout of the flag pattern. This breakout will skyrocket the gold price, and we can see 6400+ points of bullish movement here. Long-term target for gold 58000 – 60000.

Gold downtrend confirmation:

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Can BankNifty Retest 32600 Again?

Free nse stock index banknifty chart calls

BankNifty Is Unfolding Final Impulsive Wave Z

Bank Nifty has started its Elliott wave cycle from the extreme low of 16116. It has completed the extensive impulsive wave (3) at 41829 and started falling in descending channel.

Currently, Banknifty is forming a triple zigzag on the corrective wave (4). Price has occurred the X-2 wave and started wave Z of the triple zigzag.

According to EWT, corrective waves move in the parallel channel, and the impulsive wave breaks the channel. An uptrend can only be possible after the breakout of wave X.

Let’s zoom into the lower timeframe to study this corrective structure:

Free nse stock index banknifty 4hours chart calls

Price is forming a final leg down Z. If the price breaks the control line, traders can short for the following target levels: 34115 – 33597 – 32613.

But the price has reversed seven times on the control line. If the price sustains above the control line with strong candles, the traders can long the following targets: 35168 – 36689 – 37517.

Although the wave principle has shown a bearish structure, we should always respect the price action.

Day traders should wait for our “morning outlook” for intraday trading on nifty and banknifty futures & options.

Only premium subscribers will get an options trade setup with a perfect strike price at the exact time.

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Invested in the right way, in the right place and at right time, even few trades can form the foundation for a secure financial future.
– Moneymunch.com

Recently published comments: Read what they’re talking about…

  • RavishankarDas1960 said on Tuesday 10th of May 2022

    वाह गुरूजी आपका चार्ट अप्रतिम है. हमारी पूंजी में बढ़ोतरी के लिए आपसे निवेदन हे की आप ऐसे ही एनालिसिस को दला करे.

  • Zaid Darbar said on Tuesday 10th of May 2022

    Pokarna me abhi position possible he? I mean new entry?

  • Antim Thakkar said on Tuesday 10th of May 2022

    Pokarna is oversold. Hope to see a bottom to buy for swing trade. You have done a marvelous job for us!

  • vishalvbaldani654 said on Tuesday 10th of May 2022

    I appreciate your work. As I told you yesterday, I have made a profit from 35k+holding for the final target.

  • Mitesh Bhagwan said on Monday 9th of May 2022

    Excellent and comprehensive analysis.

  • Sophi2001 said on Monday 9th of May 2022

    We have a similar vision here! Thanks for the update

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