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Will BANK NIFTY Hit 37800 Today?

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free nse banknifty hourly chart tips

Bank Nifty had stuck into the descending channel (DC) from 25 Oct to 07 Dec. The upper trendline of DC has broken and started moving forward. It has filled the 25 Nov gap yesterday and marching towards the supply zone. We have chances to see 37600 – 37800+ levels today. Intraday traders can take benefit of it.

But you must note the second resistance of 36871. It’s a barrier for buyers. If Bank Nifty remains under of it, then we may see an excess of this channel. And that will collapse the Bank Nifty prices from 36800 to 36300 – 35696 below. That’s why I have highlighted the supply zone in the above chart with a strict warning.

I have used RSI and Stoch RSI together. The Stoch RSI is indicating a downtrend ahead. But, others (MA, DMI, & RSI) are throwing positive signs. Hence, you have to focus on the second resistance line only.

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

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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. To become a subscriber, subscribe to our free newsletter services. Our service is free for all.

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AB CAPITAL Has Completed An 8-Month-Old Correction

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free nse aditya birla ab capital chart tips

According to the Elliott wave principle, AB capital has finished the corrective wave ((iv)).

Price carrying on the impulsive wave (v), yet traders shouldn’t take the position without a proper signal.

If the price breaks wave (X), the price will surely make a new high because it will give evidence of the impulsive move.

Price may take retracement as wave x works as a resistance which can be the best entry for bull traders.

We can see the following targets:
127.70
138.96
151.2
165.9+

Invalidation: breakout of the minor channel.

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Part 2: Is Zeel Preparing For A Bull Run?

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free nse zeel stock tips chart

Zeel Is Sitting On The Ticking Bomb

Did you read the previous report of MCX Gold? If not, click the below link to read it.
[Sep 27, 2021] – Is zeel preparing for a bull run?

I had written, “…if ZEE is forming wave 3, then we should get a 161.8% extension of wave 1.
Target 1: 335
Target 2: 362
Target 3: 390“

WHAT’S NEXT

Zeel has concluded a corrective structure and started an impulsive wave. The price is about to cross the recent high of 362, but there is resistance.

Breakout traders can enter after breaking the high of 362, and reversal traders can wait for a pullback, and they can enjoy the big move.

Invalidation: please note that pullback can’t be lower than wave C.

Further, I will upload intraday (15 min and 1-hour chart) to make a setup on Zeel.

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

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free nse nifty hourly chart tips

Nifty has continued forming the descending channel. Price has made three excess areas on the lower band. It means that bear traders are continuously trying to break down the descending channel. Price is following the control line with nine spot confirmation. The trend will change after a breakout of the upper band, and it will drag the nifty price at my pivot point. And that pivot point will act as a hurdle. Hence, it has to climb up to that. And if that happens, then it will keep moving forward non-stop. Otherwise, there is Continue reading

NSE: Is the RVNL Topping or Just Consolidating?

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free rvnl stock tips chart

RVNL is fundamentally very strong. I have included this stock for your portfolio in my recent article (8 Indian Stocks That Can Turn 1 Lakh Into 10 Lakh by 2030).

Notice the volume bar spike. According to the volume study, this share price will consolidate here. And will hit the support trendline. RVNL stock price may touch the red support trendline due to the high volatility available there. Afterward, we may see a strong reversal. Be ready to see again Rs.40 – Rs.43.

And short-term and long-term targets are available in the previous newsletter. To become a subscriber, subscribe to our free newsletter services. Our service is free for all.

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