Nifty -VSA Study-Pullback to Stage-3 or Continue to Stage-4

1 Nov 2020

General Study

• Nifty has already tested 0.382 retracement level.
  
• In most of scenarios where healthy retracement is needed, 0.50 retracement is very common and usual.
  
• And in that case, price bounces from 0.382 first, then again come back to test 0.50 value area.
  
• Wherever a deeper retracement is needed it even test 0.618 value area too but it is not most often like 0.5 and 0.382.
  
• In current scenario, Nifty has already tested 0.382 and even given a bounce up from there.
  
• Now, let's close eye on it to see if it backs to good retracements or continues from here.
  

VSA Study

• Nifty was clearly in Stage-3 since long time
  
• It has kissed upper boundary thrice but has not broken-out for Stage-2.
  
• Now, it has broken down the Stage-3 lower boundary and seems moving towards Stage-4
  
• Let's see if backs to Stage3 (as we have studied on 1 Hour TF chart and on Daily TF chart, still it is at the edge of Stage-3.