Nifty Last Fort for Bulls to Defend EOD Update

As medium term and short term is negative,Nifty now near long term support of 8000.

Within 6 trading session nifty almost move 1200 points up and down.

Last fort to defend for bulls is 8030-8060 and Bears wish to penetrate for 7950/7850.

This above level (8030-8060) may act as Potential Reversal Zone from Bearish to Bullish.

Level to Watch??

Immediate support/PRZ -8030/8060
Immediate Resistance-8150
Trend Confirmation-8220/8300

Note-This above is my Personal view for Educational Purpose only.Read Disclaimer.

 

Nifty II surgical strike Trend Poised

As per our last two report medium term outlook is Go or No Go like situation when break 8470.

As per 1st Nov report our 1st case was Descending Triangle continuation breakdown

 below 8505 with medium term support was 8470 breached and not closed above

8550 for bullish Trend confirmation.

On 6th Nov report told that medium term outlook was negative as closed below 8470.

Nifty made attempt on 7th and 8th Nov to close above 8550 but not succeed and

achieved our 2nd Bearish Target of 8200 and almost touched long term support of 8000.

As Nifty is near at short term support of 8300/8220 and below medium term support

cum resistance 8470 and just taken  support from long term line 8000.

Nifty is in a state of perfect equilibrium as equal  distribution of weight from Bulls and Bears,

hovering or suspended in or as in midair between 8200-8300.

What Next???

As Nifty is perfectly poised.

So only watch the 8200-8300 zone of  equilibrium to drive price either

side of 8000/7850 or 8470/8610.


Note-This above is my personal view for Educational Purpose only.Read Disclaimer.


     

Nifty IInd Surgical Strike Update

As per our last report medium term outlook was negative below 8470 and  Bullish

Trend confirmation is at 8550.But Nifty unable to close above 8550 and today we have

witness  the 2nd surgical strike.So today we almost touch the long term support

and bounce Back and close below our medium term support 8470.

So What Next???

Short term support-8300/8220

Short term Bullish Trend confirmation-8470

Medium term resistance-8470

Long term support-7990

We will review latter if Nifty sustain above 8470.

Note-This above is my Personal view for educational Purpose only.Read Disclaimer.

Nifty Medium Term outlook update

On 7th August report click here our Target for Nifty was 8880-8950.On September

7th we got Nifty at 8968 differ by 18 Points from our extended Target 8950.

On 7th September report click here analysis told for cautious approach as Nifty

 approached Reversal Zone.

Nifty reverse from 8968 and achieved our 30th September click here Target 8470

on 4th November.

This above is all about flashback of our Analysis.

What Next???

Friday our Target of 8470 achieved and Breached by 70 points and weekly

close below 8470.

Nifty medium term outlook is negative but has the potential to sharp bounce from

 here and will negate the bearish closing.


Level to watch---

Immediate Bullish support -8380
Bullish Trend Reversal-8470
Trend confirmation-8550

Bearish Target1-8320
Bearish Target2-8200

Note-This above is my Personal view and for educational Purpose only.Read Disclaimer.

Nifty Medium Term Outlook Intact

As per our last report Major support was 8510,Nifty made low 8506.

You must read previous report for better understanding.

Below 8510 there is PRZ(Potential Reversal Zone) of 8470.

There is no change of level since our last report.

So medium term outlook is positive till 8470 hold.

Fall from 8968 to 8506 May have two scenario

Case-I-Descending Triangle continuation in which we have seen breakdown below

8540-8530 but not sustained.If it is Descending Triangle then sooner or later we

will witness Breakdown below 8505(Remember major 2nd support and PRZ is 8470).

 So case two arise  if it is not Descending Triangle continuation then?

Case-II-It may be Falling wedge frequently seen in case of Wave 4.But Breakout confirmation yet to come.

Note-The above is my personal view for educational Purpose only.

Nifty Surgical Strike Reversal Zone

Is it surgical strike of Nifty with more than 10lac Cr transaction on Expiry?

It is the second surgical strike of Nifty after Brexit within 4 Months.

No it was with same line and which justified of Harmonic Motion of action and Reaction.

As per previous report target of 8880 and 8950 achieved after that reaction upto 8560.

Told in previous report for cautious  as Nifty approached the PRZ(Potential Reversal Zone).

What Next???

Now major support at 8510-8530.

Nifty approaching PRZ(Potential Reversal Zone) of 8470.

BankNifty already touched the PRZ of 19150.

We may expect bounce in Nifty otherwise Nifty may test the Major

support 8510-8530 then 8480.

We will review latter if Nifty breach 8470.

Major support-8510-8530
PRZ-8470
Upside Target-9050/All time High.

Note-This is my Personal view for Educational Purpose Only.Read Disclaimer.

Update to Previous Report

This is the Update to  Previous Report.

As per the last report,we have seen breakout and our target of 8880 and 8950

achieved tomorrow.

As Nifty is two step away from all time High 9119,

Now again Nifty approaching the PRZ(Potential Reversal Zone) or Congestion Zone

Resistance of 9040-9070.Be Cautious, although movement is strong in upside.

Nifty may complete the rotation at 9040-9070 of previous downfall.

After that follow its own course of action.

Note-This is my Personal view for Educational Purpose Only.Read Disclaimer.