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Is Nifty Going below 15800?

Free nse nifty 4h chart calls

Free nse nifty daily chart calls

Timeframe: Daily
Sellers are aggressive when price inters in the overbought zone. Price hasn’t made an excess on the upper band of the parallel channel. After entering the parallel channel and making a higher low, nifty has shown bullish momentum. It has made a recent high of 16793 and faced resistance from 200 EMA with a big bearish belt candle.

16860 is the key level for bull traders. If the price breaks this level, it can go up to the control line at 17100 and above.
Rejection from the pivot level indicates extreme bearishness, and it will drive nifty below 15910.

Free nse nifty 4h chart calls

Timeframe: 4H
Nifty has completed wave A of triple three combination W-X-Y-X-Z. 16860 is pivot and flip-flop level for us. If the price breaks it, nifty can move up to 17100-172010. if it starts marching in an upward direction, trade can use a trail stop loss.

However, 17400 is a strong resistance.If bulls fail to break 16860, they will not even reach 17200
After the accomplishment of wave B, the price will fall for impulsive wave C of correction.
Traders can trade wave C for following targets: 16250 – 16000 – 15800

If bulls have to change the trend, they must break wave b at 17400. Bullish move is only possible above 17400.

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Mr.Guru(s) is a team of stock market certified technical and research analysts with over 20 years of experience. They are regular guests on popular online channels and contribute articles to several financial publications. Their insights and advice are respected by investors worldwide. With their collective knowledge and expertise, they have a proven track record of successfully predicting market movements and identifying profitable opportunities.

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