Dharmesh Joshi

Nifty working in a zig zag pattern, need breakout in either side, red lines show the zig zag pattern.

Blue line shows the nifty support level which is 17300 if it sustains this level and crosses upar side of zig zag red line then a new pattern starts to develop which is pattern "W" But fails to sustain 17300 level then again zig zag pattern will continue until it does not break any side of it's wall which is in red lines...!!

Hi,

Another gap in nifty is around 7200 level... while modi govt. take charge..

very strong support between 7000-7200 levels in nifty,

Hi,

Very Strong Support in Nifty Near 10000 to 10100...

But if any circumstances nifty break 10000 level..... next support little bit far..........@8900 to 9000 region...Actually one gap is pending to fill at that region in march 2017...which shown below in chart..

Remember to consider these support levels while taking any huge position in equity market..overall it's a best time or very good opportunity to invest in stock market for long run..

Hi,

In any circumstances nifty don't sustain @ 10950 level...

next support 10600....for nifty

resistance 11400...

hi,

Finally nifty fill a gap of 10994...

As per my previous post nifty strong support around 10950..

my view: sellers cut your position here....(kindly square-off short position here...)

hi,

According to my previous post(23rd may) next support for nifty is around 10950.

Hi,

Nifty support level is 10950 & 11400..

Hi,

Today:

Indian Stock Market would open negative. Technically, Indian Stock Market is still in positive zone but now Indian Stock Market is forming some bearish candle and can see some negative movement. Indian Stock Market would become weak if Nifty traders below 10749 whereas market would see strength above 10840. Overall, market is positive but some profit booking can’t be ruled out if Nifty is not able to trade above 10840 levels. If Nifty would hold 10749, then we could see next target of 10920 in upcoming sessions. But overall, the signals shows that profit booking for now.

Hi,

Market outlook

Daily charts:

- trend is up on daily charts
- yesterday markets closed 1% in positive at 10628
- AD was 7:10

- option writing support jumps to 10500
- this has bullish implications

- expecting resistance in the region 10800-10900

Hi,

H&S formation on NIFTY charts:

Disclaimer:) :) :) :)
- these are just patterns forming in my mind.... market cares a damn about what I see or think.
- to make money, it is not necessary to know these patterns
- in fact, it is not necessary to know anything (eg. politicians)

Here is how the weekly charts look like:--------

- bearish H&S being formed
- neckline at 10000
- right shoulder being formed
- max height 11150
- break of 10000 to result in more downsides
- target is immaterial

Daily charts show inverted H&S:-----------

- this has bullish implications but
- first the head part should get completed
- then the right shoulder should start formed
- this should lead to a correction to say 10200 levels
- followed by a breakout above the H&S neckline (not drawn on chart)

Hi,

NIFTY price action in Mar and Oct this year.

Will history repeat?