NIFTY 50 future TRENDS-Part 2

[prabhsingh]

Seven Star Bro,

Since 50% rectracment completed what next?We are placed at a situation where either we can move towards 61.8 or fall towards 38.2.Under such circumstances what should be the call and whatever is the call what are the factors should determine that.Kindly can you tell that please.

 

[SEVEN STAR]

seven star bro,

since 50% rectracment completed what next?we are placed at a situation where either we can move towards 61.8 or fall towards 38.2.under such circumstances what should be the call and whatever is the call what are the factors should determine that.kindly can you tell that please.

as per fibo retracement 50% considered a strong sup..or res..
As per the trend .. Now.. The trend is down so it should be a res.. Point..a bounce from the low ..to be viewed in full that is the time it took to fall and retraced along with volume..
If the bounce is strong even fall from 50% res.. May be short lived
may be intra day or for a day or two a mild correction.. Have to calculate recent low and todays high ..to arrive at and we have to see up to what extent if any correction takes place on monday can be considered as normal one ..or there should be strong breakout from today's high..

 

[SEVEN STAR]

Fibo retracement if any as per daily spot nifty...........

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[SEVEN STAR]

spot nifty as per ema..final resting place at 5600../5550..watch it looks like nifty heading to test either of these lower levels..............spot 5820..have to be cleared for the bulls take control

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5440 spot gap is still open..that is 50% retracement level

fallow up..ema watch spot 5980 closing fails to do look for strong down trend

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SPOT 5440 GAP LEFT OPEN
I LOOK FOR SHORT ...AT EVERY OPPORTUNITY.....

 

[prabhsingh]

Seven Star,

5980 is daily closing or weekly closing and is that for next week that should be watched?

 

[Raghuveer]

NF Fib levels for Mon (Fri close=5968):

Res: 5977 5991 6009 6028
Sup: 5959 5945 5927 5908

 

[SEVEN STAR]

seven star,

5980 is daily closing or weekly closing and is that for next week that should be watched?

above are daily charts and it is daily closing..5980 is going to be res..break out and close above will give clear break out.... Have to wait for one are two days close above with volume..to be positive..

 

[Raghuveer]

NF fib levels for Tue (Mon close=5957):

Res: 5966 5980 5998 6017
Sup: 5948 5934 5916 5897

 

[SEVEN STAR]

spot 5860 breaks and close below it marks end of this rally it ref..to..5980 closing will set the trend on up side............5678.......5980 is the range as of now........

 

[Raghuveer]

NF fib levels for Wed (Tue close=5937):

Res: 5946 5960 5978 5997
Sup: 5928 5914 5896 5877