What was good part about 21st March Friday for Nifty50 analysis?
I was expecting wave 4 to form - so movement was upside
ABC structure seemed to be forming with higher high price action
But all this did not make sense for wave 4, a wave 4 pattern is a corrective pattern and not impulsive. It usually has ABC structure and in total it should not retrace more than 50% of wave 3, ideally Nifty retraces 23.6% and it was reaching 50%. Very close to invalidation level of wave 1.
This made me relook at chart, and I posted on X during live markets as well.
If wave 4 indeed ended, and surprised everyone, then there could be a fresh rally in store. We probably are already in wave 3 of wave 5 higher.
Why should we trade against the trend? Let’s just follow KISS BOT Indicator and trade with it.
How Kiss Bot indicator (Free) on trading view gave you early sign of higher moves.
Nifty50 1H Kiss Bot Indicator
There were two three things that were important:-
Green B was the sign on kiss bot to enter long trade
There was 200 ema also around there where price went above it and kept on going higher
Then it went towards blue slanting line form daily time frame and crossed that
Went towards blue box and tried to cross that too
Nifty50 5 min Kiss Bot Indicator
Let’s say you were not ready for 1H since that was too quick or against your bias, then 5 min would still be good
Trading is not easy, but if you follow some rules, then it can become easy.
Here is another chart with Kiss Bot and Heikinashi Candle for 5 min chart, if you enter at a green candle (in this chart green candle is bluish in colour) then it is naturally easy to trade.
What to expect for Nifty 50 on Monday?
Price should move towards yellow line POC 23593 to complete wave 1 of wave 3
After this pull back should go towards 61.8%
Nifty 50 reversal was swift unlike corrective wave 4, and there is a possibility of more upside as people will cut their put / short positions
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