Nifty: Will it break 10580 or 10730?

Nifty has been moving all over the places in today’s session. Infact the volatility was extremely high and there was a sharp reversal from the zone of 10720 levels. Prices breached the low of 10620 levels on downside as well.

Even during such scenario there was possibility to make money on index on either side. See yourself the below call given on Nifty for intraday basis over past few days given to Nifty Intraday subscriber

Following was given on 19^th Feb 2019

NIFTY FUT BUY ABOVE 10715 SL 10655 TGT1 10745 TGT2 10805

Target 1 - NIFTY FUT BUY CALL GIVEN TGT1 ALMOST ACHIEVED AT  10743

Below was given on 15^th Feb 2019

SELL    NIFTY FUT  SELL BELOW 10731 SL 10821 TGT1 10686 TGT2 10596

Target 1 - NIFTY FUT  SELL CALL GIVEN TGT1 ACHIEVED AT 10686

Below was given on 12^th Feb 2019

SELL    NIFTY FUT  SELL BELOW 10870 SL 10950 TGT1 10830 TGT2 10750

Target 1 –  NIFTY FUT  SELL CALL GIVEN TGT1 ACHIEVED AT 10830

Target 2 - NIFTY FUT  SELL CALL GIVEN TGT2 ACHIEVED AT 10750

The above clearly shows that despite of the volatility we are witnessing prices have been managing to move as expected providing good intraday trading opportunities.

From positional perspective, one can follow the simple basic method of looking at the highs and lows of the daily bar. Unless we see break and close above the previous day’s high the trend will continue to be negative. In the morning when Nifty managed to break above 10700 the chances looked high for a positive close but later looking at the sharp reversal back below 10620 it is time to be alert. Further break below 10580 can result into some serious capitulation across the board.

Nifty daily chart:

From above chart we can see that not a single day prices have closed above the previous day’s high for 8 consecutive days. This one basic method provides so much of information. Imagine the power by combining it with Fibonacci, indicators like RSI, Time cycles, Elliott and Neo wave analysis.

Nifty is now at very crucial juncture. As per above method it is now best to stay bearish unless we see close above 10720 levels. Also break below 10580 will suggests the top for next 40 days is in place as per Time cycles. So, get ready for next big wave and next two days will be the deciding factor.

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