ToppingOut

19 de fev. de 2021

#Nifty weekly charts worth watching. Looking at the larger picture #Nifty completed nearly 200% gains by testing 15100 this year itself considering lows of 7500. And as per weekly charts it completed 261% retracement of the whole fall from 12430-7526.

If we trust Fibonacci levels, and believe 15430 to be the interim top, then 23.6% retracement falls near 13564 as per weekly trend from 7526-15430.

But there is no point guessing all levels. What we need to do is play this with proper hedging and safety. Technically after RSI sustaining above 70 when it falls below 70 a major correction happens. And something similar is noticed in #Nifty.

If 15430 is the interim top then there are high chances of any of these levels to be tested in coming times. As per daily charts major supports placed near 14713/14250/13733. Lets hope for a big ticket correction this time. We need to hedge adjust and play in the shorter time frame direction keeping the big picture in mind.

19 de fev. de 2021

Nota

As per 75M TF charts major supports placed near 14996/14749/14652/14276
As per daily charts major supports placed near 14713/14250/13733.
As per weekly charts major supports placed at 13667/13156

All levels are marked in the charts. Considering 15251/15430 as the resistance now, lets see how much retracement we can see in coming times.

19 de fev. de 2021

Nota

Disclaimer: All these stock ideas or trade updates shared here are for educational purpose only and completely non-advisory in nature. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE / BSE / MCX market basis this ideas. Objective of posts is to educate and help members learn technical analysis and hedging techniques from my personal trade picks to reduce the risk per trade and save yourself from bigger losses.

All these trade picks are selected using technical analysis and price action (VSA MomentumInvest Trading Setup) and for my own trading purpose only. Technical indicators are lagging and may generate false buy/sell signals. Market is supreme and my views may go horribly wrong. Please don't consider these trade ideas as trading recommendations. You may consider it for learning or at max use it for paper trading. Strictly avoid it for trading using real money. I am not responsible for any kind of profit and losses arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades (or trade at your own risk).