Hey everyone, how are y'all?
Let's do a multi-timeframe analysis on Nifty, with a top-down approach.
Weekly: Neutral
Nifty has already tested the Fib-Circle two times (read my previous idea on Nifty, if you haven't already), might go for it again. US is increasing the interest rates in March, might affect the Indian markets too. We are nearing a 0.618 Fib time reversal zone in August, which is a major trend reversal zone. We can see a strong move upward or downward in August. It is not very exact but look for that move anytime near the line.
Daily: Bullish
Nifty is forming a Bullish Pennant Pattern (You can use TradingView auto chart pattern tool if you can’t spot these patterns). We can see another move downward to the lower line of the Pennant, but if we ignore the wicks (check the dashed line), we can see an upward move from here only.
4 Hourly: Bullish
Nifty was again in a demand zone, might reverse from here. Forming a bullish engulfing candle with a long wick, indicating that the bulls are showing interest. We can see the work of order blocks coming in here, let’s look for the perfect entry on the lower timeframes.
1 Hourly: Bullish
Nifty has bounced back from the first order block (Always select the order block with a confirmation of a pullback). It is still making lower highs and lower lows, but we might see a trend reversal.
15 minutes: Bearish
You can find the highs and lows on the 15 mins timeframe by using the Gann Fann indicator by @LonesomeTheBlue
I have selected the target because it has entered into uptrend, forming a higher high.
The Indian Budget is nearing, I would suggest you to not trade in these market conditions. This was just my view on the market, trade safe!
Let's do a multi-timeframe analysis on Nifty, with a top-down approach.
Weekly: Neutral
Nifty has already tested the Fib-Circle two times (read my previous idea on Nifty, if you haven't already), might go for it again. US is increasing the interest rates in March, might affect the Indian markets too. We are nearing a 0.618 Fib time reversal zone in August, which is a major trend reversal zone. We can see a strong move upward or downward in August. It is not very exact but look for that move anytime near the line.
Daily: Bullish
4 Hourly: Bullish
1 Hourly: Bullish
15 minutes: Bearish
I have selected the target because it has entered into uptrend, forming a higher high.
The Indian Budget is nearing, I would suggest you to not trade in these market conditions. This was just my view on the market, trade safe!
Giao dịch đang hoạt động:
15 mins timeframe target reached, 500 points!
