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How many of you sold Nifty futures today?
BEFORE – 1:26 PM
First Update URL: https://moneymunch.com/nifty-can-retest-17169-before-hitting-the-18000-levels/
I had written to sell Nifty at 1:26 PM, “The nifty trader can see the following targets:
Target 1: 17425
Target 2: 17270
Target 3: 17169“.
AFTER – 3:08 PM
The first target of nifty has come. To become a subscriber, subscribe to our free newsletter services. Our service is free for all.
Nifty has completed motive wave (iii) at 17792.
Wave (iv) is forming and, it can have a common retracement of 38.2%.
The nifty trader can see the following targets:
Target 1: 17425
Target 2: 17270
Target 3: 17169
According to the rule of corrective wave, it remains under the channel.
And the impulsive wave can break out the parallel channel.
If nifty breaks the parallel channel, check out the previous update below.
The long-term outlook of Nifty:
EWT: Will nifty hit 18000 before September end?
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Extending wave (5) should easily travel above 18000 and is likely to continue toward 18480.
Target 1: 18000
Target 2: 18142
Target 3: 18350
Target 4: 18480
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We found that a price is frequent spending more and more time between “Upper-Band” & “Gravitation line”. In other words, a price staying much of time between “Upper-Band” & “Gravitation line”.
Look at the upper-bank has 6 touches.
We are seeing no activities between the lower band and control price. That’s why we concluded that if price breakdown, gravitation line will be confirmation of fall. Yes, you can take profit from this type of trend by using buy at control price and sell at the upper band.
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Intraday support 14112, Resistance 14219
INTRADAY traders can short their position for the target of 14118 nearby.
If there will be breakout and price will cross the main resistance level that is 14219 then nifty will be still much bullish as indicators are indicating.
TECHNICAL INDICATORS
Moving Averages – Bullish
Technical Indicator – Bullish
Moving Averages Crossovers – Bullish
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Nifty has come to all time high and breaking every time high everyone is talking about the fall in nifty but bulls pull it more strongly to next higher level. Technically the nifty will move still higher level and do price rotation then fall can be expected. The important level to look at is 14094 and the support level is 13668 remember the falling strength is more stronger then the rising strength.
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