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Nifty Update: The Case Of Initiative And Response Between Bulls & Bears

nse nifty chart calls today

I had updated an hourly chart of Nifty the day before yesterday. Click the below link to open it.

Nifty Today: The Case Of Initiative And Response Between Bulls & Bears

free nse nifty hourly chart tips

BEFORE

Nifty is performing under a parallel channel as described in the above chart. See the below chart to see what happens next.

free stock nse nifty chart tips updates

TODAY

NEW UPDATE: So now, what’s next in Nifty?

nse nifty chart calls today

Nifty has completed the law of similar action. It has broken the corrective channels and touched the lower band at 16892. Price has faced support on the lower band and responded with demand by touching the upper band.

At this time, the price is out of the downtrend channel.

In my previous idea, I have mentioned that if the price can’t break the pivot point, there are high chances of price excess.

Our nearest lower high (LH) is 17403, which may react as a resistance.

In a nutshell, if nifty breaks the pivot at 17621, there are higher chances of the trend changing. Before reaching the pivot point, it has to break the resistance line.

Failure will be the cause of excess.

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Mr.Dev, has been in the forex and commodity markets since 1997. He’s one of the few non-biased investment advisors to have correctly called the current bull / bear market before it began and to have positioned his clients accordingly. As a result of his accurate forecasts on Indian commodity markets & currency, he is becoming increasingly more renowned. Mr.Dev has been quoted in many of the newspapers. He is a highly recommended technical analyst by many of the local financial newsletters and advisory services. He also is founder of commodity profit sharing service on Moneymunch.

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11 Comments

  1. Sir, Please teach me.
    I want to learn wave principles. I have tried everything, and nobody has a strategy that gives 80% accuracy.
    only you have.

  2. Thank you for sharing these amazing ideas.
    I do trade nifty and bank nifty.
    If you can update daily, it will be beneficial for me

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