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
Nifty is performing under a parallel channel as described in the above chart. See the below chart to see what happens next.
NEW UPDATE: So now, what’s next in Nifty?
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.
Get free important share market ideas on stocks & nifty tips chart setups, analysis for the upcoming session, and more by joining the below link: Stock Tips
Are you looking for NSE paid calls? Want to get premium trading alerts and unlimited access to Moneymunch? Join today and start potentially multiplying your net worth: Premium Stock & Nifty Tips
Premium features: daily updates, full access to the Moneymunch #1 Rank List, Equity Research Reports, Focus List portfolio of 50 longer-term stocks, Premium screens, and much more. You will quickly identify which stocks to buy, which to sell and target today΄s hottest industries.
Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.
I love the way you analyze nifty 50 and stocks.
I would like to purchase your service.
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.
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
Nice write-up!
Keep good work.
Amazing idea!
Nicely done!
Thanks for sharing!
it so helpful sir..tq so much
great stuff man! thank you!
Great as always
I 100% Agree with you !!!
Cool idea buddy!