Nifty analysis - rising wedge bearish pattern

25 lut

According to rising wedge bearish pattern. Nifty weak if not able to cross the upper trend line. Also up side momentum will be very slow for time being. Below i have stated upper levels with the help of fibo extension But if somehow it breaks the lower trend line. There will be fast moves after breaking the major support which is 22000. Bollinger band middle support is also 22000. It can also bounce from the major trend line support too. Like previously bounced 4th times. Likelihood of this time bounce is rear though.

Also this is bit long term view minimum 2-6 weeks. Analysis done in 2h 4h timeframes for bigger picture.

Scenario1 Targets (based on fibo extension)
L1 22363
L2 22473
L3 22556
L4 22644
L5 22769
L6 22919

Scenario2 (best case)
L1 21800
L2 21550
L3 21285
L4 21130
L5 20980
L6 20800
L7 20650
L8 20480

Bonus levels
BL9 20280
BL10 20150
BL11 20030

Keep this in mind. Options is a dangerous instrument to play. Please do not go wild on anything unless you know exactly what you doing. And market can always prove me wrong and i take that rights too. Best way is. Keep the one side view when level breaks then keep booking the profits. Enter again in bounce with proper SL/risk management.

DISCLAIMER: I AM NOT SEBI REGISTERED ANALYST.ALL POSTS ARE EDUCATIONAL PURPOSES.NON ADVISORY, DISCRETIONAL NO CLAIMS,RIGHTS RESERVED.I AM NOT RESPONSIBLE FOR YOUR PROFIT OR LOSS.

26 lut

Uwaga

i think today's gapdown wont be bought. My personal view.

26 lut

Uwaga

Slightly bearish closing.

27 lut

Uwaga

closing is still in the channel. I think move can come after the monthly expiry.

28 lut

Uwaga

Given one small warning. Same small patter of the main analysis small pattern.

28 lut

Uwaga

Current situation below. It wont be easy to climb this stiff leader now for the market.

28 lut

Uwaga

Nifty looking more bearish.
110 points target against 27 points SL. sorry while i am typing its shooting.

28 lut

Uwaga

Still holding for the target.

28 lut

Uwaga

Finally i got my target. Sorry didnt updated. Because it was busy day.

2 mar

Uwaga

Nifty is almost touching & crossing the upper rejection band. lets see.

2 mar

Uwaga

Updated chart. Closing above the wedge. Lets see what upcoming trading session will show. It will become bearish only below 22k mark. otherwise sideways to bullish only.

4 mar

Uwaga

Ones it slips from upper channel. you will see the power of bears. Another reason it it's trading near to the upper bollinger band line. Chances are very high for the stiff correction if it doest hold these levels. Zatke marega kyuki bull market hai but it will iron out all zatkas ones long liquidation kicks in.

5 mar

Uwaga

Good shorting level

6 mar

Uwaga

Weak opening will be a first key to down trend. if it lift up fast then be cautious. Think that still upside rally left.

7 mar

Uwaga

Yesterday last 1 hr candle closed above the channel. If it still stays above the channel guys dont short. atleast one 1hr candle should close again now below the wedge to weaken the trend.

7 mar

Uwaga

22500 will be make or break zone now

11 mar

Uwaga

Becoming bearish. Channel rejection visible. Investors stay alert.......

11 mar

Uwaga

Out of the wedge channel now. Investors stay alert.......

12 mar

Uwaga

Brutal fall started as indicated yesterday.

13 mar

Uwaga

Now people will say shorts. Maine top pe bataya tha.

17 mar

Uwaga

Nifty already gave bearish closing below the main channel trendline. Levels for monday.

23 mar

Uwaga

Still bearish closing for me after the bounce. Will look for short if it doesnt go in upper channel.

23 mar

Uwaga

Standing at 50% rejection level

24 mar

Uwaga

Happy Holi to all!

As i said nifty is still below the main selling channel & at 50% fibo rejection. Not a good sign for next week open.

26 mar

Uwaga

Today's levels for Nifty

26 mar

Uwaga

Closing below 038 fibo. Still bearish for me.....

28 mar

Uwaga

Nifty entering again in the main buying channel. After the week selling & consolidation.

3 kwi

Uwaga

Imp level.

5 kwi

Uwaga

Nifty bearish angle.

12 kwi

Uwaga

Still channel rejection there with double top M pattern.

14 kwi

Uwaga

Double top M pattern rejection from the channel. immediate major support will be 22120

16 kwi

Uwaga

Past level worked like the charm. next new levels.

16 kwi

Uwaga

Again taken channel support now. If break this it will become super bearish again. And if sustain this it will be super bullish again.

19 kwi

Uwaga

Previous day it broke the channel but today it has reclaimed. which is bullish sign only.

28 kwi

Uwaga

Next trading zones.

9 maj

Uwaga

Nifty at make or break levels.

12 maj

Uwaga

current status. last and final support is 21800. After that break you can directly see 21000 only. and if takes support from 21800. Still selling can come on upper channel bottom point 22300.