Categories Niftylongterm

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Well, alarms were sound.
₹Nifty > #Nifty

Explanation for the alarm that sounded. Textbook short term top.
Clean technicals.
₹Nifty > #Nifty

Is Nifty gunning for an ultimate double zig-zag shake out towards 17k which would coincide with weekly 20 EMA and 100 DEMA tag? Fair possibility. Only time will tell. Watch for the break of 50 DEMA and support zone.
₹Nifty > #Nifty


If Nifty breaks 50 DEMA and closes below 17700. 17220-17150-17000 possible. Worst case scenario is ~17000. Lot of confluence support in that range.
Do your DD.
₹Nifty > #Nifty

Nifty’s daily looks like ABC is done, but internals suggests that it still needs a final sell off to make a bottom for WXY. A bull trap towards 17735-17810 can’t be ruled out before the final sell off.
Just analysis, reserve the right to be wrong.
₹Nifty > #Nifty
#Nifty watch this trendline to be taken out for a good long trade!
15 Months to this post. No change in the larger projections.