Nifty Outlook: Is This The Last Pivot zone For The Bears?

2022年2月2日

After creating the low of 17836, we have seen a price surge to 17623. Nifty again reached the pivot zone 17621.

If nifty sustains above 17621, traders can buy for the following targets 17680-17765-17841+.

Also, a price above 50 EMA indicates the presence of bulls in the current juncture.
Please note that the rejection of the pivot zone indicates that the price is not going above.
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Price had broken out of the value area, and I suggested buying nifty after price entered into the parallel channel.
Price has made excess and entered the equilibrium area, where supply equals demand.

Currently, the price is on the control line. It controls the up and down movements inside it.
Nearly every up or down move in the value area stops at this control price line. It is pivotal support and resistance level inside the value area.
It is called pivotal because of how price oscillates around it.
If the price sustains above the control line, we have a bullish scenario for 17800+ as I mentioned above. but rejection of the control line will drive the price to 17226

2022年2月2日

注释

Price is forming a short-term uptrend channel, where it has made an excess. Price entered into the parallel and now can go forward to the control line of the B channel if the price breaks the short-term uptrend channel.
The short-term channel also suggests that if the price is going in the upward direction, the price will take a retracement and then continue its run.

2022年2月3日

注释

Because of the gap-up opening, we didn't get entry, but nifty has made a new high of 17794.