NIFTY Price analysis - Bearish in short term

This is my first post. Please write me your feed backs.

NIFTY is in retracement of fall from 5th Jul to 9th Jul post Budget. NIFTY will retrace 31% level to 11665 then follow the bearish trend till 11111, which is double bottom of price reached on 14th May prior to Election result.

NIFTY fall will also close the gap occurred after 17th May closure.

Cycle 1: Short team bullish - Retracement of previous fall
NIFTY Target 1: 11600
NIFTY Target 2: 11665
Target Date : 16th Jul, 2019

Cycle 2: Continuation of Bear
NIFTY Target 1: 11218
NIFTY Target 2: 11111
Target date : 22nd Jul, 2019 - Look like unrealistic date, but my analysis shows this date only

Kommentar:

Cycle 1 - Target 1 and 2 reached
Let us watch for cycle 2 to start
Prerequisite
Price should not break the short term trend channel
Price should break daily trend support line

Kommentar:

The view is still valid. I predicted cycle 2 based on cycle 1 target. The cycle 1 target predicted was 11665, but it went upto 11710 in actual, so this need to be tuned according to the actual prices.

The revised target for cycle 2
Target 1 : 11330
Target 2 : 11250
Target date : 23rd Jul, 2019

Personally, I dont advise to enter the market now, since it fallen already, but if you bought already hold it.

Trade geschlossen: Ziel wurde erreicht:

Cycle 1- Target 1 and 2 and Cycle 2 - Target 1 reached.
NIFTY is into retracement. Nifty next levels are Target 1 - 11450 and Target 2 - 11500. I will publish new chart for it.