NIFTY Technical Analysis for June - August

PS: This is for educational & discussion purposes only. Don’t follow any market guru tips and do your own study before putting your hard earned money in the market! :slight_smile:

As we all know, Nifty has corrected alot! Increased liquidity makes the markets volatile and we have seen a record breaking liquidity this time. The sentiments right now are extremely fearful but a short term pull back can be expected.

On the daily Regression Trend, Nifty seems to be roaming around the downward channel support as confirmed by a crossover of Parabolic SAR at the last Daily Candle.

The CCI shows a bullish divergence on Daily Charts.

The FIIs have taken out huge amount of money from the market and booked their long term profits.

The DIIs and Retail Traders have absorbed all the shocks and saved NIFTY from crashing brutally.

What’s next? Share your thoughts and ideas!


After reaching over bought level, nifty is in a corrective mode, It seems 17500 level being a crucial level to watch out , whether Nifty holds that level & bounce back , since Nifty is in a trading range from many many days!


Hi @Channel37 ,

Interesting analysis. :rocket:

Eager to know all your thoughts as well on this @nity @amit @pavz :smiley:


Sure @RahulDeshpande.

I don’t believe that positional bets should be taken ONLY BASED ON TA of NIFTY. I track almost all asset classes and do various analysis (TA/FA/RELATIVE) to make a guess where money could flow next.

Since last week my bets are on LONG USD through USDINR options spread.

Meanwhile, you can listen to this interesting interview of Bill Bonner, hope you’ll enjoy it!

Thank you for your comments , i differ with your opinion , TA is like Stethoscope to a Doctor , but its result depends on the user , how & where he uses it & analyze, In trading /Investing TA part is only 35% say out of 100% rest by Money Management & Trade execution. So TA does not do every thing . its not a Holy grail , it helps the Trader/Investor to take better decision.

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thank you , last time i posted only weekly chart ,If we come down to daily & 15min chart , Nifty not able to close above the level of 17500, near the market closing hours Nifty tried to bounce at above 17500 & failed , on 15min chart ,by looking at the volume bar , further downside possibility for the Nifty is high., i will be looking at the next support level of 17200 & 17000 level

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Despite the stunning Nifty intra-day recovery , i still think correction is not over , just a pull back , after consolidation , correction will continue

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