As you can see from 18600 Nifty is making new Higher Lows and Lower lows.
As per Dow theory assuming the breakout projects the uptrend and trend reversal considering 16400 as the low.
A New Low should be formed above 16400 to validate this analysis. If 16400 is not respected dow theory is voilated,
and its going to be a bloodbath, Lets hope nifty makes a new low around 17150-250
I will update on the Idea regularly.
As per Dow theory assuming the breakout projects the uptrend and trend reversal considering 16400 as the low.
A New Low should be formed above 16400 to validate this analysis. If 16400 is not respected dow theory is voilated,
and its going to be a bloodbath, Lets hope nifty makes a new low around 17150-250
I will update on the Idea regularly.
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Good down side
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Keep trialing
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As of now Nifty made low of 17215, very crucial level!, I hope it bounces from here! else we can expect nifty to fall below 16400
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Nifty Broke 17100 levels, Tomo if the fall continues, 16400 can be taken down!
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Why I mentioned 16400 can be taken down, this analysis is 4h time frame.
When we look in higher time frame, 18600 is the top higher high.
18350 is the higher low. 16400 is the first lower low.
As per dow theory below 16400 is new lower low, lets see. if any low above 16400 is printed or we reverse above 16400 and break 18600 and make new All time high!
When we look in higher time frame, 18600 is the top higher high.
18350 is the higher low. 16400 is the first lower low.
As per dow theory below 16400 is new lower low, lets see. if any low above 16400 is printed or we reverse above 16400 and break 18600 and make new All time high!
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WOW!!