Nifty Targets using Time and FLD Indicator

fld indicators nifty time time cycles Jun 13, 2024

Nifty Time cycles has been working extremely well. Usually Cycles are used to catch lows but we can use the same in order to catch the tops as well if there is a rhythmic pattern. Time Cycles has to be applied along with Elliott wave / Neo wave for better forecasting ability and prudent trade setup.

Nifty witnessed a sharp fall in the previous week followed by a V shaped recovery. It is amazing to see how the advanced tools like FLD gave an indication of this reversal very precisely.

Following is the Nifty daily chart showing how the application of FLD helps in determining crucial reversal areas and target points.

Nifty Daily chart with FLD55 Days Time cycle – Nifty has been forming lows every 55 days as per this cycle and we can clearly see that in above chart. The dotted red line in centre is the main 55 Days Time cycle and we can see sharp bounce back on upside after prices are near that zone.

Future Line of Demarcation (FLD) -  is an important Technical analysis tool that helps us to project price targets, support and resistance points and to understand the underlying trend. This indicator is derived using Time cycle concept.

Whenever prices have crossed below the black line we get the target on downside with prices moving equal amount lower from the intersection point.

Similarly whenever prices crosses above the FLD line (black line) we get prices moving on upside by equal distance as shown on the chart.

On Election day, when there was very high volatility we can see that prices intersected below the black line on 4th June and achieved the downside target of 21400 on same day itself.

Later prices reversed up and intersected with FLD line on upside. It achieved the target of 23480 today.

Also this black line has acted as support or resistance unless decisive breakout is observed.

This is the concept of Time but one can derive clear price targets even on smaller 15 minutes and 5 minutes time frame. This is the power of Time Cycles

Combine the above method with Gann square of 9 to find out the important levels where Nifty might find support in near term. It is amazing to see how these advanced methods get aligned together.

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