Straight on 28th November 2023 after 3 holidays. Theta decay on options.. still you kept the trade? Why?
Nifty50 seems to moving higher high in higher time frames. Pull backs are healthy.
Nifty50 Weekly Chart and Out look for December 2023
Nifty50 looks strong in bullish trend on weekly chart. Last week was slightly off but here we are seeing the chary with KISS BOT., a free indicator on Trading View published by Falcon Trader (me).
It seems that we are in last wave up marked in BLUE. And within that we completed wave 1 and wave 2 marked in PINK.
Now we are in middle of wave 3 which perhaps has more upside than downside.
I will publish more on this later over the weekend but major cycle trend is up for now which should eventually take us up throughout 2024 mid.
Daily chart looks good too, a Daily Pivot Box is marked in blue. This resistance zone is important to cross which needs a good break above these levels for ongoing continuity of these trends.
Nifty50 looks good, December can take us higher from here till PURPLE 1. Then there has to be pull back for the wave 2 (PURPLE).
The black dotted line is a strong trend change time level. We will talk about it more later.
Internal wave 2 of the White wave 2 forming in 1H,
Next level is 19929 and then 20K levels should be seen soon. We also have Venus in Libra transit coming with Bullish outlook in previous historical charts. Do patterns repeat? May be!
Nifty view for December 2023
Buy on Dips
Learn Trading - I am starting some free courses / some will be paid but very nominal. Will try to keep courses for less than INR 5000
Market continues to shock with randomness, stay safe by following simple rules mentioned in many such blogs, read daily
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