NIFTY some how managed to protect lower band of its support zone yesterday. The zone was 17,000-17,170 on spot. This was shared on Monday. Going forward this zone still would provide decent support in near term. On TIME front Today is the most critical TIME CYCLE date which would hold greater significance. A daily close below Todays low would end the rally and momentum on upside. Sooner or later that’s going to happen but until that takes place prices would show a different picture. Our view has been bearish so we would wait for prices to turn as and when that happens we shall initiate further trades. Next week would be HARMONIC WEEK for NIFTY so voletility could increase dramatically. The SQUARING PATTERN on NIFTY HAS Been unusually wider then normal. So expect volatile moves to continue until this pattern settles. A wide squaring pattern and a HARMONIC next week would make markets very uncomfortable. So Trade wisely..
NIFTY UPDATE
Published by SAAHIL BELIM
MY NAME is SAAHIL and I have been actively trading in EQUITY MARKETS from 2014. I have been using Gann theory in my TRADING JOURNEY since 2016. my approach to Gann THEORY is totally different than what you may have seen or heard in various YOUTUBE VIDEOS. I have developed multiple MATHEMATICAL MODELS which are based on METHODS described by sir gann in his courses. I never had used any kind of CHARTS to identify the TREND. hens I never share CHARTS to illustrate my view. I like to keep things SHORT and to the POINt! View all posts by SAAHIL BELIM
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