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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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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.
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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:
Almost many things are till remaining on the chart, although I have plotted the following:
Channel support 1559 nearby for GOLD .
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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.
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
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CLOSE VIEW:
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Intraday Resistance at 8047
8130 nearby strong resistance at value high.
If U-turn exist with new low, target will be 7330 nearby and targets of control price is at 7107.
As far as crossing the level 8330, I won’t speak about bullish.
After the long time, we are updating free report here.
Daily TimeFrame:
Pattern name, Double top
After breaking 28458, we can see next level 27466 which is a retracement of 0.618.
All major supports and resistances are plotted on the chart from 2012 to 2020 with the strong and tight channel.
Here are two channels being seen in a large channel drawing a small channel inside a chart. A small channel having support which is sign for reversal at the support 28147(Resistance can be current support).
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