first of all in this chart we can see a breakout of rectangle setup in nifty . now we can see nifty has completed its 1st target i.e fibbonaci extension level.
nifty achieved its first target and made exact high of 10242.85
though nifty has closed above breakout level sensex is yet to close above its previous high which suggest large caps movement is still due which we can see through bank nifty lag.
banknifty at the end
we can see +ve divergance in bnf which suggest we may see a +ve move in bnf and take nifty towards its new target and sensex towards a new high closing.
strategy- any dip in market should be used to buy nifty for 10312 level.
previous post-
nifty achieved its first target and made exact high of 10242.85
though nifty has closed above breakout level sensex is yet to close above its previous high which suggest large caps movement is still due which we can see through bank nifty lag.
strategy- any dip in market should be used to buy nifty for 10312 level.
previous post-
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after correction nifty took support at previous gap , expecting a bounce
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we will see a breakout in sensex after4 months of rectangle formation.
initial price target for the 3 month-long sideways consolidation stands at 34K levels.
initial price target for the 3 month-long sideways consolidation stands at 34K levels.
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finally a big gap up and breakout . pullbacks should be used to buy for 34k targets
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500 point more for rectangle target in sensex
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a poll was made in my telegram group regarding same when nifty was at 10100 .
everyone anticipated fall i.e going against trend and prntscr.com/h4o1cl.
always stay with trend
everyone anticipated fall i.e going against trend and prntscr.com/h4o1cl.
always stay with trend
KA