Nifty Lunar Cycle – Full Moon 13th July, Will it form a Top Again?Jul 13, 2022
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Lunar Cycle – phases of moon does have impact on the markets. We can clearly see by looking at the index movement with respect to Amavasya (New moon) and Pournima (Full moon). Nifty has been forming tops and bottoms as per Lunar cycle we have talked about multiple times why 13th July which happens to be Full Moon again can be sign of caution:
Nifty Lunar cycle:
Since the top of 18600 Nifty has formed a top everytime near the Full moon or Pournima. We can see this by seeing the lower highlighted circle that represents full moon.
13th July which happens to be Full moon has again resulted into a reversal to downside after a positive start. Just one day of movement is too soon to conclude if the medium term trend lower is starting but it does give a hint to traders to take trades on short sides early on when majority were looking for positive breakout.
Just a day prior to 13th July Nifty closed below the prior candle low after 13 trading days. This is interesting to see that the cycle resulted into markets reversing back down even though majority have been expecting a strong positive breakout.
Nifty support is now at 15900 on downside and unless we close back above 16150 the overall outlook will be on sell side maybe by way of shorting call options as there are multiple support zones lower so buying put option might not yield desired outcome on positional basis.
In a nutshell, Time Cycles are powerful way to forecast the future and it is possible to time the entry to the very Day, Hour, and Minute.
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