Nifty, SGX NIFTY, GOLD…

As per the channel, two resistance can push the price toward 8515 and 8340 follow by Resistance 8592-8632 Almost all major resistances and supports are plotted on the chart.  If price close above 8620 above, then i will update fresh chart.

? 8323 target then, price will not break or close 8622. Incase of break & close above 8612, then channel will not continue.

Daily chart for SGX Nifty:

  • During the falling wave, 3 times reduction in price has been seen.
  • While using the retracement, 32.2% retraced is at 9249.
  • Price rotation range is between 8838 and 8188.

Almost many things are till remaining on the chart although i have plotted following:

  • Flag pattern
  • Major and minor channel
  • Initiative move
  • Responsive move
  • major and minor support level
  • Waves

Channel support 1559 nearby for GOLD .

Nifty & HINDUNILVR, trade setup.

In the last updatation for the nifty, I have written with the channel that “I am not bullish below 8130”. Same day nifty was crossed this level and fired up to 9038. Today morning I have created NIFTY and HINDUNILVR.

The mainly four Fib. Retracement are applied in different years.

  • confluence zone at 9647.
  • 38.2 retracement level is at 9395
  • previous resistance and 61.8% retracement level at 9067.

Question is how to understand and use these levels?

Answer; There is always pullback whether there is a stock or market. If there is normal good new, then pullback easy can be 38.2% retracement . Though the confluence zone is the memory of investors, here is 9647 attract to investors. Above all given levels are actionable for traders and investors. I would like to add GAP theory on with retracement in another chart .

Control price attraction is the easy target 2083 nearby for short-sellers.

Best short-selling points

  • Frist @2221
  • Second @2255

Thanks all who are supporting my post.

CLOSE VIEW:

nifty won’t bullish still.

For paid Subscribers, in last this month almost more than 1700 points Profit has been taken by us over the Nifty future trades. This is free update for you after long time.

Intraday Resistance at 8047

8130 nearby strong resistance at value high.
If U-turn exist with new low, target will be 7330 nearby and target of control price is at 7107.

As far as crossing the level 8330, I won’t speak about bullish.

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