Sunday, February 26, 2017

Nifty and Banknifty Clues of Repetition and Further Direction


 

Hallo Friends ,

I am writing after a long time here on Blog due to some other priorities. Now will probably writing frequently. Hope you all doing well.

Nifty Future Corrections and its Repetitions :-

Nifty_Correction_Technical_Analysis

  • 1st Correction from 8329 to 8241=88 points

  • 2nd Correction 8468 to 8433= 135 points

  • 3rd Correction 8698 to 8555= 143 Points

  • 4th Correction 8846 to 8727 = 119 points

 

So Nifty Future Corrections are between 90 to 140 points approx. in this strong upmove. And after Corrections it is continuously making upmove.

Now what we can understand or take from this?

1. 1st scenario of continuation of upmove—here we have to see if Nifty future makes any correction of around 90 to 140 points there we can watch out for price action for possible continuation of Upmove.

2. 2nd scenario of reversal or  bigger correction – here if Nifty future continues to correct more than 140 points we can have a cautious approach for long side and can look for possible reversal or bigger retracement.

 

Banknifty Future Corrections and its Repetitions:-

Banknifty_Technical_analysis_Corrections

 

Like we discussed in Nifty Future same scenario here.

  • 1st correction of 18280 to 17855 = 425 Points

  • 2nd Correction of  19297 to 18742 = 555 points

  • 3rd Correction of 19874 to 19492 = 382 Points

  • 4th Correction of  20504 to 20055 = 449 Points

One more correction on a Gap Up day of break of Consolidation is of 20874 to 20420 =454 Points (this I havent marked on Charts)

So broadly Banknifty Future Corrections are between 380 Points to 550 Points approx.

Same thught process here as above in Nifty Future. we can watch for the correction if Coming can range between 380 to 550 Points  and if goes more we have possible scenario of Retracements or may be reversal.

Keep Counting Numbers…

Till then Happy trading…

If you have any view can comment below.

Chart Updates on Telegram Channel :-

Nifty And Banknifty Turning Points (ARZ)


For Further Reading,
Banknifty Technical Analysis, Nifty Levels/View, Nifty Positional Update, Nifty Technical Analysis

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