Beauty of Fib. Retracement on NIFTY

This pullback can push price 9066 up to easily.
At a,b and c of 50% retracement zone from where price started to move downward.

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Value area with 3 control lines has plotted of parallel channel.

  • The control C1 and C2 is stronger than C3.
  • Value area is predicted by price and control price. There is more chance to continue to fall.

Nifty is follwing weekly channel since long 2005 year

Target achieved Fib Retracement:

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Nifty Trading View For This Week

Short Term View for NIFTY:
3 control working her excellent. After breakout, the channel will create new trend.

As per weekly breakdown strategy of the channel, Bottom is out base on time Cycle and value low.

Control Price (c) is going to price attraction which higher from current price.

I will update shortly NIFTY trade for SUBSCRIBER.

Fib Retracement.

Important of 50%(9387) Fib. Retracement at “a” and “b”, which mean start and end point of fib is perfect.

Pull-back retracement is at 8661 nearby which is easy at 61.8%.

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Nifty is going to open more than 200+

nifty is going to open more than 200+. At opening (b) control price can react as resistance, otherwise, the next resistance at (a) controlled is too far at 9414 nearby.

There’s more chance to get a fall on nifty

As per the time cycle nearby date 20 April, we may see nifty 8800 below.

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NSE Nifty Research For You

This channel still not confirmed completely. 8836 is resistance to push price 180-300 points -ve.

We created a parallel channel by looking at market (a), (b)…(e). If you look at this chart and drawing minutely, then you will found that where are maximum points(dots). That is called gravitation to attract the price value. In the future, while the pullback price tries to test this line in the coming days.

The price very near the yellow gravitating line ()yellow which is 8912 nearby.

  • three market ranges (1,2,3) which range defines
  • the 50 percent division at 6926.8.

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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 targets then, price will not break or close 8622. In case 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 the following:

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

Channel support 1559 nearby for GOLD .

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NSE 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. This 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.

The 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

  • First @2221
  • Second @2255

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CLOSE VIEW:

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