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Support In 6850-7100 Zone : Technical Structures
Using Very Simple & Basic Technical tools & analysis here With Assumption That History Rhymes https://twitter.com/InvesysCapital/status/1246502229676142592
Support In 6850-7100 Zone : Technical Structures
Using Very Simple & Basic Technical tools & analysis here With Assumption That History Rhymes https://twitter.com/InvesysCapital/status/1246502229676142592
1. #KeltnerBands 120M
10 yrs Average price corresponds to 120Mth price..Past Two Most Severe Bearmarket of 2000-01 & 2008 Got Support At Lower Keltner Bands
We Have Already Hit That Level At 7700
10 yrs Average price corresponds to 120Mth price..Past Two Most Severe Bearmarket of 2000-01 & 2008 Got Support At Lower Keltner Bands
We Have Already Hit That Level At 7700
2. Quartely #BollingerBands
Bollinger Bands Are Placed At 2 Std Dev From 20 Qtr Moving Average
Since Inception, Nifty Has Hit Lower Band just Once & Bounced Back
Current Level Around 6821 Of Lower BB
20 Qtr Converted To Monthly Becomes 60M Bollinger Bands, Support 6875
Bollinger Bands Are Placed At 2 Std Dev From 20 Qtr Moving Average
Since Inception, Nifty Has Hit Lower Band just Once & Bounced Back
Current Level Around 6821 Of Lower BB
20 Qtr Converted To Monthly Becomes 60M Bollinger Bands, Support 6875
3. #Dow Theory
Whenever Nifty Undergoes Cyclical Correction of 12M or More & Then Hits ATH, Cyclical Correction Low Is Not Breached, Keeping Higher High Higher Low Structure Intact So Far
Previous Cyclical Correction Low Is 6825
Whenever Nifty Undergoes Cyclical Correction of 12M or More & Then Hits ATH, Cyclical Correction Low Is Not Breached, Keeping Higher High Higher Low Structure Intact So Far
Previous Cyclical Correction Low Is 6825
4. #Trendlines
Connecting Major Cyclical High Of 2008 or 2010 & Cyclical Low Of 2016 Provides Expected Support Zone Around 6900-7100
Connecting Major Cyclical High Of 2008 or 2010 & Cyclical Low Of 2016 Provides Expected Support Zone Around 6900-7100
5. Andrews #Pitchfork
Using Andrews Pitchfork With Cyclical Highs & Lows Gives Supports Of 9200 At Middle Line Which Is Already Breached
Next One Is At Lower Line Around 6850
Using Andrews Pitchfork With Cyclical Highs & Lows Gives Supports Of 9200 At Middle Line Which Is Already Breached
Next One Is At Lower Line Around 6850
Combine Everything & We Get Convergence Of Multiple Support In 6850-7100 Zone
Would Expect This Zone To Hold If Nifty Comes There
If 6825 Is Broken Would Provide Technicals For Second Zone Of 4850-5200 , Again Convergence Of Multiple Supports
Till 6825 Is Held, Let's Wait
Would Expect This Zone To Hold If Nifty Comes There
If 6825 Is Broken Would Provide Technicals For Second Zone Of 4850-5200 , Again Convergence Of Multiple Supports
Till 6825 Is Held, Let's Wait
