From the cyclic low of 26th Oct 2018 Nifty 50 Index had shown the high strength.
If we see the whole Big picture, this move is in the staircase form.
Analyzing the longer time frame charts always gives better trading results. Especially weekly charts consistently help in making the best decisions.
For understanding the whole staircase rally of Nifty, will move step by step.
In the end, we will see what the best next opportunity we are getting from it now.
The Feb low of 10585 was the first step of this staircase pattern.
If we see from there, Nifty climbed almost 1270 points. Perfect trade shot from our ‘True Market Rhythm’ trading method. The risk on trade was hardly 100 points only.
The second best step this pattern made in May before the result of the Lok Sabha election.
The low was around 11108 levels and from there Nifty surge almost 1000 points.
I already warn about this move at that time in my post here.
Now at present again, Index has moved near to that pattern step. The low of Tuesday 11461 is near to it.
So what can we expect, this time?
The probability is high we can again see a rally or bounce back from this step as there are also other signs that Nifty is looking to make Pivot around this low.
If all goes well then again Bulls can expect the reward of 500-1000 points, or maybe more this time.
The trading opportunities like this are easy to find. Once when we understand the underlying principles to which the market responds.
Then we can easily make plans for the successful trading journey.
Note: Above mention price projection & other Information are for educational purpose only.
Below 15735-760 zone Nifty Index is weak and can drop more. On the downside, the 15520-499 zone is the important Gann level zone, where Index
Even after a strong weekly close, Nifty & Bank Nifty opened gap down. Both tried to recover, made high near Gann levels, which we discussed