Nifty Trading Time Cycle on 15 Minutes Before RBI Policy Event!Jun 08, 2023
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RBI policy announced today did not increase repo rate and kept it unchanged at 6.50%. Nifty already moved up before announcement.
But, was the move predictable? Absolutely Yes, and we derived path of Nifty much ahead on 3rd June with 1000’s of participants during live webinar.
Below is the chart of Nifty on 15 minutes Time cycle basis
NIFTY (15 mins) ANTICIPATED ON 3RD JUNE 2023 – Live webinar
HAPPENED NIFTY (15 MIN) HAPPENED As ON 7TH June 2023
As can be seen on 1st chart we expected a move on upside to 18640 then a move on downside and a rally after that.
Happened – Nifty moved precisely as shown in path ahead. Interestingly this happened even before the event announcement.
Nifty has moved preciously as per time cycle and the above chart shows the same. As we can see Nifty formed low near 18530 levels which is exactly on our 43-period time cycle and reversed as we mentioned and even tweeted on 6th June 2023 that 11am is the time turning area.
One should combine time cycles along with Price action to trade profitably.
In a nutshell, Time works if applied correctly and by using this simple concept of Time cycles one can trade positional, intraday and for options it becomes all the more important.
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