Nifty has witnessed a sharp fall since the previous week. It is amazing to see how the advanced tools like FLD gave an indication of this reversal very precisely.
FLD – Future Line of Demarcation is an important Technical analysis tool that helps us project price targets, support, and resistance points, and understand the underlying trend.
Following is the Nifty daily chart showing how the application of FLD helps determine crucial reversal areas and target points, which we derived with 1000s of participants in our weekly webinar on Friday i.e. on 20th October 2023.
Nifty Daily chart (Anticipated in our weekly webinar on Friday 20th October 2023 with 1000s of participants)
The Nifty Daily chart happened as of 26th October 2023
The first chart shows the path for Nifty and targets on the downside which is picked up from our Friday (20th October 2023) webinar which we derived by using an indicator called FLD (Future Line of Demarcation). As per this our target 1 was 19230 which was clearly achieved in yesterday’s session (on 25th October 2023). Now prices are moving towards our final target of FLD which is near 19800 levels.
We were able to capture this fall of more than 600 points with the help of Time and FLD. Combine the above method with the Gann square of 9 to determine the important levels where Nifty might find support in the near term. It is amazing to see how these advanced methods get aligned together.
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