Nifty Moon Cycle – Will it push prices higher again?

Nifty daily chart:

Cyclical analysis: Above chart clearly showcase that almost on all the occasions post the Full moon or Pournima, Nifty has continued to move in the upward direction.

Most of the dips or consolidation also occurred during the period between the new moon and the full moon. (The empty circle above the chart is No Moon or New moon and the highlighted circle below the chart is full moon).

Also this study is working extremely well as the overall trend is on the upside or markets are driven by positive social mood and the same gets amplified post every full moon cycle.

We are not trying to do any pseudo-science but identifying the repeatable patterns that provide trader with opportunity that can be exploited to trade probability in favour.

It will be interesting to see that with the Full moon now due and prices near the channel support if markets can start finding positive thrust over next two days and repeat the history again! Interesting, Isn’t it!

A move above 17,650 can push prices higher towards possibly 18,000 mark but it is important to that support near 17,350 remains intact.

The author is founder of WavesStrategy.com and Ashish Kyal Trading Gurukul

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.