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Where is Nifty 50 Index Heading? On Short-term Basis

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If you are a day trader, then it doesn’t matter where the Nifty 50 Index is heading.

You only need good volatility (It’s there) & well-tested Intraday methods like our students use to trade.

But if you are a swing trader, then.

On the Daily chart, Index today corrected from the Crucial rhythmic projected resistance level.

The first downside target from the Rhythmic resistance level achieved today in Intraday.

If Nifty bears push harder. 

The next downside potential targets will be around 15150/15050/14900 levels. And from there, Nifty can hit a new high around 15700 levels & more.

On the higher end.

Nifty Bulls need strong sustainability above 15400 levels to rise straight from here with no further downside.

IF that happens, then.

Soon we may see Nifty reaching around 15700 levels (crucial projected rhythmic level).

Note: The above levels are only for study. Not a Buy/Sell advice.

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About the Author

Divesh Jotwani is a Full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day in and out markets.