Nifty - Analysis for the coming weeks

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Nifty | Range perspective:

- The price has been moving in this range for the last 2 weeks.
- The range is 650 points wide. Using the measurement objective provides us with a target of 650 points in either direction.

- This means that, whenever the price moves out of this range, we can expect 17k or 15k.
- I'd be looking to trade either direction with a strict SL.

- Currently, the bias is bearish because the HTF structure is bearish. I'd be willing to short near 16450-16400 if the price gives me an opportunity.
- In case, the price moves above 16450 and sustains, the intermediate bias will shift to bullish.

Nifty - M15




These are the levels that I am looking at.

- The initial supply zone is the point where the HTF sellers entered the range high and pushed the price downwards.
- The secondary supply is the point where the HTF sellers dumped the price today.

- The price is at the flip zone and can move either way. I am looking at 3 favourable scenarios where the HTF sellers defend their positions and push the price towards the unfilled gap.
- We can also observe the formation of the Head & Shoulder pattern, which will get confirmed only after the breakdown of the neckline.

- The breakdown of the H&S will also confirm the breakdown of the flip zone, in which case we can expect the price to fill the gap.
- The depth of H&S is about 270 points, which also aligns with the bottom of the unfilled gap.

- Hence, all of these factors are adding up for a beautiful short, either tomorrow or on Thursday.
- This analysis may or may not work out. So, please do not take any random trades based on this.

Nifty - M5


- Beware of the trendline breakout since there is a supply zone overhead. The breakout can be a fake breakout just to trap more longs before moving downwards.

Thanks for reading! Hope this was helpful.

Disclaimer: This is NOT investment advice. This post is meant for learning purposes only. Invest your capital at your own risk.

Happy learning. Cheers!
Rajat Kumar Singh (johntradingwick)
Community Manager (India), TradingView

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Update (25 May):



- Breakout of the trend line to trap longs.
- Run into supply, dump back to take out all the long SLs.
- Clean 240+ points move from the highs.

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Update (25 May):

- Clear rejection from the secondary supply zone after trapping the longs.

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Update (26 May):
Almost hit the target of H&S and reversed. Front ran by 0.35%.

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