#Nifty || 15th June 2022 || Falcon Trader || Daily Analysis

We are on 1H time frame, looks like 4 is done (even though I wanted it to go little higher)

I will update chart if I find SGX Nifty little off in the morning on 15th June, however for now, I am looking at 15500 levels as completion fo Wave 5 and then we will go up in main wave 4 - having said that I can see 15900-16000 levels again when we reach there in main wave 5 where we can get more shorting opportunity.


How do you want to play this?
Keep enough room for your expiry, and buy puts or short comfortably with targets 15000 soon to be achieved (but we will first see some bounces in next few days)

We have FOMC meeting in the US on Wednesday and its result will impact our Thursday and Friday markets. Price will be set in for the outcome therefore market can be played for shorts till meeting is not done. Expecting 75 BPS rise - which will keep the market volatility high for this monthly expiry and July will be more fun.

Bottom when?
I don't know bro - don;t focus on bottom (it can be in July end or early August) but focus on trend. If your daily time frame lower high is not taken, and new lower highs are formed then market is still in bearish phase and you need to give it more time.

Enjoy trading, hit like button and follow. Don;t forget to see my game chart on NIfty ... and see how hell fire breaks with price magnet at 14000 levels.