Downtrend to continue in Nifty if 17200 not broken convincingly
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- 82 Days (Uptrend - 2905 Points from 29.07.2021 till 18.10.2021)
- 62 Days (Downtrend - 2166 Points which was 74% Retracement of Uptrend from 19.10.2021 till 20.12.2021)
- 28 Days (Uptrend - 1944 Points which was 89% Retracement of Downtrend from 21.12.2021 till 17.01.2022)
- 48 Days (Downtrend - 2699 Points which was 138% Retracement of Uptrend from 18.01.2022 till 08.03.2022)
- 29 Days (Uptrend - 2478 Points 91% Retracement of Downtrend)
- Downtrend started from 9th of April and till today (20th of April) 14 Days have passed and Nifty has fallen 1333 points or 54% to reach the Low before bouncing back.
Hoping to see Nifty falling 1540 Points (from the High of 18170) within the next few days so as reach at least 16630 or 62% of retracement from the recent high of 18170 in Nifty. If downtrend continues till 16630 and doesn't reverse from their then next support is 16200. Nifty resistance is 17457.
The Last Days (from 20.04.2022) has seen some struggle between Bulls and Bears. Bulls had taken over on 21.04.2022 and Nifty had reached it's Resistance of 17457. However on 22.04.2022, Bears pulled it back to 17147 from a High of 17320 reached that day after a Gap down opening.
Interesting fight going between Buyers and Sellers. Let's see who wins. Maybe in the short term the Bulls might technically pull back the Index till 17800, however I am personally Bearish because 2nd Green Candle that breached the Downtrend (Nifty at 17284) on 21.04.2022 couldn't be maintained by the Bulls and the following day (22.04.2022) there was a big gap down opening. It's an interesting thing to now observe now in the future because the Downtrend was broken again on 22.04.2022 in the afternoon session and it came back below the Downtrend line to close below 17200 (which had been a big support for the Bulls). According to Demark's Indicator, Nifty should have gone up at least by 552 Points to reach 17836 within the next few days had the uptrend continued.
- 62 Days (Downtrend - 2166 Points which was 74% Retracement of Uptrend from 19.10.2021 till 20.12.2021)
- 28 Days (Uptrend - 1944 Points which was 89% Retracement of Downtrend from 21.12.2021 till 17.01.2022)
- 48 Days (Downtrend - 2699 Points which was 138% Retracement of Uptrend from 18.01.2022 till 08.03.2022)
- 29 Days (Uptrend - 2478 Points 91% Retracement of Downtrend)
- Downtrend started from 9th of April and till today (20th of April) 14 Days have passed and Nifty has fallen 1333 points or 54% to reach the Low before bouncing back.
Hoping to see Nifty falling 1540 Points (from the High of 18170) within the next few days so as reach at least 16630 or 62% of retracement from the recent high of 18170 in Nifty. If downtrend continues till 16630 and doesn't reverse from their then next support is 16200. Nifty resistance is 17457.
The Last Days (from 20.04.2022) has seen some struggle between Bulls and Bears. Bulls had taken over on 21.04.2022 and Nifty had reached it's Resistance of 17457. However on 22.04.2022, Bears pulled it back to 17147 from a High of 17320 reached that day after a Gap down opening.
Interesting fight going between Buyers and Sellers. Let's see who wins. Maybe in the short term the Bulls might technically pull back the Index till 17800, however I am personally Bearish because 2nd Green Candle that breached the Downtrend (Nifty at 17284) on 21.04.2022 couldn't be maintained by the Bulls and the following day (22.04.2022) there was a big gap down opening. It's an interesting thing to now observe now in the future because the Downtrend was broken again on 22.04.2022 in the afternoon session and it came back below the Downtrend line to close below 17200 (which had been a big support for the Bulls). According to Demark's Indicator, Nifty should have gone up at least by 552 Points to reach 17836 within the next few days had the uptrend continued.
Сделка закрыта: достигнута тейк-профит цена
Nifty fell 1540 Points (from the High of 18170 on 9th of April 2022) and touched 16630 or 62% of retracement from the high on 4th of May 2022.CYCLE 1 - Days of Downtrend were lower than that of the Uptrend - Days of Downtrend was 75% of that of Uptrend
- 82 Days - [Uptrend - 2905 Points from 15537 (29.07.2021) till 18599 (18.10.2021)]
- 62 Days - [Downtrend (75% Retracement of Previous Uptrend) - 2185 Points from 18612 (19.10.2021) till 16414 (20.12.2021)]
CYCLE 2 - Days of Downtrend were higher than that of the Uptrend - Days of Downtrend was 172% of that of Uptrend
- 28 Days - [Uptrend (88% Retracement of Previous Downtrend) - 1933 Points from 16414 (22.12.2021) till 18347 (17.01.2022)]
- 48 Days - [Downtrend (138% Retracement of Previous Uptrend) - 2676 Points from 18347 (18.01.2022) till 15671 (08.03.2022)]
CYCLE 3 - Days of Downtrend are now almost equal of that of the Previous Uptrend - Days of Downtrend till 4th of May has been 86% of that of Uptrend and it is expected to continue for few more days with some minor technical bounce backs
- 29 Days - [Uptrend (91% Retracement of Previous Downtrend) - 2443 Points from 15671 (09.03.2022) till 18114 (09.04.2022)]
- 25 Days (CONTINUING) - [Downtrend (till now 61% Retracement of Previous Downtrend) - 1490 Points from 18114 (18.01.2022) till 16624 (04.05.2022)]
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