Good Morning friends if you follow my blog regularly then you might not had any surprises about yesterdays selloff in NIFTY. As I mentioned here repeatedly about my bearish stand since last 2 weeks. It just took 1 session for NIFTY to retest monthly low so far of sep. As I https://ganntradersaahil.wordpress.com/2020/09/11/nifty-giving-early-signal-of-large-correction/was very clear on avoiding any long positional trade on index finally yesterday we saw thew much awaited selloff. But is it done for now? Tried to explain below.
Now from here need to analyse it practically. Yesterday we saw sharp selloff in European and US Markets so we might see a gravitational bounce in these markets including NIFTY which might last couple of days.. but does it changes over all trend_ simple answer for it is NO. All these markets might see more downside.
Markets around the world are at critical point would be very intresting to watch them in coming days. In the world where almost all major markets had given complex vibration pattern breakdown NIFTY holding pattern support is not fare for us. Sooner or later NIFTY would break support and should come down gradually. Voletility shall rise subsequently so need to control over trading. Finally levels to watch would be 11020 11050 which is a pattern as well as vibration triangle support. Which once breaks then shall open up for 10625 on spot in coming days. I have even tough targets but would share it later. Idea should be follow the trend.https://ganntradersaahil.wordpress.com/2020/09/18/gann-price-time-analysis-for-nifty/
Last time I gave 2 supports on NIFTY at 11500 and 11380 which once broke there is no looking back. Every second stock of market is breaking down so need to trade as per plan and at the same time control risk.
Disclaimer views expressed above are personal. And are Subject to change with time. Any Trades taken with reference to above Analysis has to be at your own risk. Trading in Financial markets is always subject to risk. So dont forget to consult your Financial advisor before taking any trades.
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