Nifty Next 50 / Nifty Junior

Nifty Next 50 Analysis. As on Saturday 23 Oct 2021. CMP 42,403.

Bottom line : A top appears to be in place at 45,290.  Lower to 39,000 is the expectation.

From previous post of 4 Oct "Sideways consolidation in Nifty Junior before a thrust up to 44,500 ~ 45,500 to complete the rally"

The broader market has turned lower, and Nifty Junior is very much in the thick of it.

If wave 3 of primary degree is complete at 45,290, as we expect it is, then wave 4 should make its way down to the 4th wave of lower degrees, either to the 39,000 level, or to the 34,000 level.

The weekly chart also shows a bearish engulfing candle, which is confirmation that a top is in place.

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2 month chart : Notice how wave 2 of primary degree was sharp and deep.  This is important because we can now expect wave 4 of same degree to be sideways and time consuming (guideline of alternation).  This means many opportunities on both the long and short side.  So this larger 4th wave is likely to take the shape of a triangle or flat.  Hence the decline to the 39,000 level or at most the 34,000 level is the expectation.

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An idealized scenario would look like this for the larger sideways 4th wave to play out.  Note this is just an idealized, and totally hypothetical scenario.  Wave A down would be the sharpest, to either 39,000 level, or 34,000.  If the top is in place, we are currently in wave A down, so brace for more downside in coming days.

Nifty Next 50 (Nifty Junior) Analysis. As on Monday 4 Oct 2021. CMP 42,880. Posted at 11:15 am.

Bottom line : Sideways consolidation in Nifty Junior before a thrust up to 44,500 ~ 45,500 to complete the rally.

ETF to play this is Juniorbees.

A triangle or flat appears to be in progress on the 4 hour / daily charts.  Expect a few more days of sideways action before price thrusts higher to 44,500 after which caution is advised.

Below 4 hour chart shows a triangle, but in case of a flat then price would test the 41,936 level before the move higher.

At the same time, keep a close eye on Bank Nifty which could be warning of a potential turn lower from above 39,000.  (Pls see Bank Nifty post).

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Nifty Junior Update. As on Wed 8 Sept 2021. CMP 42,550. Posted at 10:10 am.

From previous post of 27 Aug when price was 40,200 "Bullish for above 41,800, potentially above 44,000".

Strength in Nifty Junior (next 50) continues.  Likely target 44,000.

A good instrument to trade this is Juniorbees.

Price remains within a trend channel and price is thrusting up from a 4th wave triangle.  The 44,000 level is in sight and is top of the trend channel, which could act as resistance.

Corrections are certainly possible as long as 39,022 is not violated first.

Nifty Junior Analysis (Nifty Next 50). As on Friday 27 Aug 2021. CMP 40,282.  Posted at 12:10 pm.

Bottom line : Bullish for above 41,800, potentially above 44,000.

Price has just made a new all time high confirming a thrust up from a 4th wave triangle is complete.  For this count to remain valid, 39,022 must not be violated under any circumstances.

1st target : 41,800 apprx

2nd target : above 44,000

3rd target : above 52,000 (monthly chart)

41,800 is the triangle width measurement which also coincides with the trend channel middle line.  But the 44,000 level is also not a stretch at all given the large trend channels playing out on the 2 month chart.

So besides Defty (nifty in USD), we have our 2nd very bullish index in Nifty Junior.

Nifty Junior Analysis (Nifty Next 50). As on 2 Aug 2021. CMP 39,720. Posted at 10:45 am.

Focus simply on the daily chart for now.  The pattern in play appears to be an ascending triangle (right angle triangle) and is bullish.  The wave count is unclear for the short term, so we ignore it for the time being.

Price would need to close today above 39,450 for confirmation of this ascending triangle.

Ascending triangles are continuation patterns, so this rally is not done yet.  Target in the range of 41,000 ~ 41,500.

Any close below 39,117 in the near future would not be conducive to the immediate bullish view.

We are showing the larger time frames, but are not of much relevance at this time.

Nifty Junior Analysis. As on Thurs 1 July 2021. CMP 38,604. Posted at 12:10 pm.

Bottom line : Neutral. A daily close above trend line resistance on 4 hour chart could mean resumption of the uptrend towards 40,200.  Until that happens, the easier path appears to be down.

A potential inverse Head & Shoulders on the 4 hour chart.  A close above 39,000 would likely mean continuation of rally towards 40,200.  Until that happens, price could well be headed lower.

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On the weekly and 2 weekly charts, Junior is still bullish towards 42,000 ~ 45,000.

Nearer term, If a wave iii circle top is in place at 39,398, price could be headed to the 33,000 level (4th wave of lower degree)

Nifty Junior Analysis (Nifty Next 50). As on Friday 28 May 2021. CMP 37,500. Posted at 2 pm.

Bottom line : Short term bullish toward 38,000 ~ 38,200.

Resistance at 38,000 ~ 38,200 could be a zone for a reversal towards 33,000 level.

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Larger count shows Nifty Junior could be headed up towards the 45,000 ~ 50,000 level, but that is much into the future, and many twists and turns likely before that.