Nifty 50 IndexShort
Nifty seems forming H&S - Target 23200 if breaks below 24688
Aktualisiert
Nifty has completed left shoulder and head and now need to form right shoulder. 25500 seems strong resistance area and if it fails to cross this level and breaks below 24694(recent swing low) then it will be H&S breakout and it can slip up to 23200.
Though it will have strong trendline support at ~24200-24300 area and if that breaks then 23300 is most likely to come.
Diwali is also near and hence coming few weeks are interesting to watch.
It seems sell on rise and booking profits (partial if not full) can be the strategy.
Also this fall will be good opportunity to switch to quality stocks as they might get available at discounts.
** This is not a trade advise, please do your own analysis before taking any trade. Thanks
Though it will have strong trendline support at ~24200-24300 area and if that breaks then 23300 is most likely to come.
Diwali is also near and hence coming few weeks are interesting to watch.
It seems sell on rise and booking profits (partial if not full) can be the strategy.
Also this fall will be good opportunity to switch to quality stocks as they might get available at discounts.
** This is not a trade advise, please do your own analysis before taking any trade. Thanks
Anmerkung
I have created a post for bank nifty where it compliments the moves with Nifty 50 but bank nifty might not give that much fall if gets support around 49000-49500. That means nifty might also get support at 24000-24200 or else other sectors need to show more correction than banks. Here is the post for the same 
Anmerkung
Forgot to mention that if nifty moves above 25660 then the theory might get invalidated, in that case nifty can march towards LTH and then above that a fresh run.Anmerkung
Wow, as predicted nifty is givign moves. The neckline is broken but break below 24694 will confirm the breakout on downside, though a proper breakout will be if nifty moves up little bit and get resistance near neckline. Anmerkung
24567 was the day low today..... on Monday it might come down sharply though hourly close above 25040 will bring it back it life.Anmerkung
Now on closing basis 24694 is important, if nifty closes below it then it will keep slipping downwards but if sustain above this level during next and it closes above 25000 then we might see upside move towards 26000.Anmerkung
another low of 24458 .... going as per predictions....Anmerkung
Bingo : next low of 24378 made yesterday..... Anmerkung
another low 24073, there are more downside targets but fall of 1000+ points doneAnmerkung
A fall of 1400 points so far in nifty, 500 more points before the target is meet and we can see some base formation.
I believe time to start selecting the quality stocks and their buying levels....
Trade ist aktiv
23480 hit...Trade geschlossen: Ziel wurde erreicht
As predicted on 11th October the index has moved exactly the same way and very close the the final target of 23300.Anmerkung
A fall of almost 1700-1800 has come in the index as per the prediction and it is likely to meet final target of 23300 next week. :)Anmerkung
The target of 23300 almost reached with low of 23350 yesterday !Anmerkung
final target of 23200 almost achieved with today's low of 23265..... 23200 is important to hold else 22000 will get open on down side.
Bank nifty is also at important level and need to make it does not close below 49800 else it will get bearish for long term.
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