Nifty EOD Balance Point

As per previous 15th Jan analysis long term Resistance was 8650 nifty made high around 8670.

As Nifty crossed the long term strength test level 8500/8530 in order to make new high or to reach at termination level 8925/8950,Nifty should respect Balance point is 8510/8540.

Nifty 8500 level is the level from which nifty to and fro,so just wait and watch this level carefully.

Level to watch?

short term support-8540
Balance point support-8500/8510
Long term Resistance-8650
Long term 2nd Resistance-8740/8870

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

Nifty Gann EOD update

As per 24th Dec 2016 analysis report,Elliot wave target was 7870/7890 and Death

 Zone(Potential Reversal Zone) 7830-7870 .

Nifty exactly taken support from 7890 made low 7892.

As 8000 level was good support for long term,Nifty reverse from that zone.

What's now?
Now Nifty long term strength test zone is 8500-8530,nifty made high 8457 almost near to that zone.
Nifty almost test one short term support at 8370 on 13rd Jan 2016 and closed above that.

Level to Watch----

Short term support-8350/8300
Long term Strength Test-8500/8530
Long term Resistance-8650

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

Nifty Elliot wave and Death Zone

As per previous Report short term resistance of 8220/8300 Nifty made high of 8275 on 9th Dec but unable to cross 2nd resistance 8300.

On 27th Nov analysis said as 8220 is perfect equilibrium drive Nifty either side. 

As said  level 8000, which is long term support so nifty goes below but suddenly bounce back.

As per previous report 7830-7870 is Death Zone.

Is Nifty Death Zone will work as PRZ(Potential Reversal Zone) from Bearish to Bullish let us wait and watch....?

Here i am presenting two alternative Elliot wave count which may help you and the PRZ perception.

Either of wave count may be wrong,wave count from 21st Nov low 7916 till now.
Either wave count in different color.

Note-This above is my personal view for Educational Purpose Only.Read Disclaimer at top right.

Trend Poised to Trend Dilemma Range Play

As Trend Poised to trend Dilemma continued in case of Nifty.

As per previous post 8220/8300 was resistance,nifty achieved 8220 as high made 8250 but unable to cross 8300.

Now play the range for Nifty as below....

short term support-8030/8050
short term Resistance-8220/8300

Death Zone-7830/7870

Medium Term support-7700/7500(See this level only when 7916/7870 breached)
Medium term Resistance-8420/8530

Long term support-8000
Long term Resistance-8500

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

 

Nifty Trend Poised to Trend Dilemma

After last report nifty achieved 7916 as low but protect the 7850 level.

Now lot of external factors drive market and short,medium  term outlook is negative.

As told earlier below 8000 level nifty is long term bearish.But last two, weekly closing

 is above 8000 level.It is mild positive.But trend confirmation is above 8220.

So in bearish side 7830-7870 is the death zone and trend continuation.

Nifty trying again back to lower level of poised condition 8220 from where it swings either way.

As it is  perfectly equilibrium at 8200-8220 level.

 Let us wait and watch how it reacts.

Level to Watch...

Death Zone/Trend continuation-7830-7870.

Support-8000

Trend Reversal/Resistance-8220/8300.

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

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.