THIS WEEK ALSO TREND WILL CHANGE TO BULLISH FROM SIDEWAYS ONLY IF NIFTY IS ABLE TO CLOSE ABOVE 16000. EXIT FROM ALL SHORT TRADES ONCE NIFTY IS ..............................
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12500 AND LOWER TARGETS ARE POSSIBLE THIS YEAR ,SO ONE CAN ADD POSITIONS IN DEC............... NIFTY WILL FALL 25-30% AS CORRECTION IS OVER DUE SINCE MARCH 2021.
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NIFTY STOPPED EXACTLY NEAR THE FIRST GANN SUPPORT LAST WEEK.FOR THE LAST ONE MONTH NIFTY HAS GIVEN PROFIT TO SHORT SELLERS EVERY TIME IT REACHED NEAR GANN RESISTANCE OF 15900.
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YOU MUST HAVE NOTICED THAT HOW POWERFUL ARE GANN RESISTANCE ZONES , NIFTY COULD NOT CROSS THESE LEVELS THE WHOLE MONTH.ALSO I INDICATED THAT JUNE 2021 WAS A VERY BIG GANN PRESSURE MONTH.
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FOR THE LAST TWO WEEKS I CLEARLY INDICATED REGARDING THE HUGE GANN RESISTANCE ZONE AND GANN PRESSURE WEEK. NIFTY WAS UNABLE TO CROSS THIS ZONE AND A GOOD CORRECTION OF 450 POINTS HAPPENED LAST WEEK. THOSE WHO WENT SHORT NEAR GANN RESISTANCE ZONE MUST HAVE MADE GOOD PROFIT.
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LAST WEEK I CLEARLY MENTIONED REGARDING THE GANN CONGESTION ZONE AND ON ONE SINGLE DAY IT DID CORRECT AROUND 250 POINTS. THERE IS NO CHANGE IN VIEW OR STRATEGY. THE COMING WEEK IS A VERY BIG GANN PRESSURE WEEK.
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NIFTY DID CLOSE ABOVE 15470 AND RALLIED FURTHER FROM THERE AROUND 300 POINTS. SO FAR IT HAS MAINTAINED THE UPWARD MOMENTUM BUT THE MAJOR INDICES LIKE BSE SENSEX AND BANK NIFTY ARE YET TO MAKE A NEW LIFE HIGH. THIS INDICATES SOME MISMATCH AND IT IS TIME TO BE VERY CAREFUL
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LAST WEEK NIFTY FORMED A NEW ALL TIME HIGH BUT CLOSING WAS NOT ENCOURAGING. AS I INDICATED LAST WEEK THAT TECHNICALLY NIFTY HAS GIVEN AN UPWARD BREAKOUT ABOVE 15100 ON 18TH MAY AND SINCE THEN 2 WEEKS HAVE GONE BUT JUST 350 POINTS UPWARD MOVEMENT.
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NIFTY DID GIVE AN UPWARD BREAKOUT LAST WEEK BUT SOMEHOW I AM STILL NOT CONVINCED WITH THIS BREAKOUT AS THE STRENGTH IS MISSING. BUT WE WILL STRICTLY GO WITH THE GANN TECHNICAL RIGHT NOW. CONSIDER THIS AS A FALSE BREAKOUT ONLY WHEN NIFTY STARTS TRADING BELOW ...................
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