Mighty Nifty - Small retracement!

14 gen 2017

On 12th Jan Nifty formed an ascending triangle, indicating price action will move up. On 13th Jan we had a spike movement in opening. At the end of the day, nifty formed a descending triangle indicating price action will go down. I have taken smaller time frame so that the triangles will be more visible. On breaking the triangle's base at 8375 Nifty can move up to 8300. History always repeats itself. If you check past history when new president step in to power in US, share markets will boom. As bank nifty has regained its strength, it wont allow nifty to fall further. Bank nifty is moving inside the rectangle. When it breaks 18750 it will go up to 18550. This retracement will last for 2 or 3 days only.

14 gen 2017

Nota

You can check bank nifty's chart here. in.tradingview.com/chart/QtD56IkU/

16 gen 2017

Trade attivo

17 gen 2017

Nota

Nifty is still sideways, didnt break the triangle's base. Hope tomorrow the movement will be good. Still I am bearish about nifty.

18 gen 2017

Nota

I will change my bearish view about nifty at the price 8462 and this trade will get cancelled at 8462 only.

19 gen 2017

Trade attivo

Bank Nifty has synchronised with Nifty. Short Nifty 8416 with stoploss 8462

20 gen 2017

Nota

Mighty Nifty has broken its silence!

22 gen 2017

Nota

1/22/17 Forecast for next week nifty movement before expiry - Resistance 8372-8380(spot) Supports are 8325,8260,8200(spot). One should close their short position in expiry as pre budget rally is expected.

24 gen 2017

Trade chiuso manualmente

From 8416 to 8375 gained 41 points. Human error in fixing the target(the target should be at the gap up(8325). Nifty took support there)