NIFTY | 29-AUG-2024
NIFTY | 29-AUG-2024 |
Weekly time frame
NIFTY has been consistently riding along the upward white parallel channel
NIFTY riding above 20-, 50- & 200-week moving averages
RSI > 70, indicating strong bullish momentum
MACD well above the 0 line & in green zone, indicating bullish momentum
Daily time frame
NIFTY crossed the previous all-time high intraday but could not sustain while closing
NIFTY riding above 20-, 50- & 200-day moving averages
RSI > 60, indicating bullish momentum
MACD crossover extended & is above 0 line, indicating momentum
Hourly time frame
NIFTY continues to consolidate along the yellow resistance line
NIFTY riding above 20-, 50- & 200-hour moving averages
RSI > 60, bullish momentum still intact
MACD above 0-line, momentum still intact
Levels to watch out for
Monthly Timeframe: NIFTY is bullish until it goes below 21,300
Weekly Timeframe: NIFTY is bullish until it goes below 23,400
Daily Timeframe: NIFTY is bullish until it goes below 23,900
Hourly Timeframe:
a) NIFTY is sideways between 24,700 – 25,100
b) NIFTY is bullish above 25,100 (Target could be 25,700)
c) NIFTY is bearish below 24,700 (Target could be 24,300)
Weekly time frame
NIFTY has been consistently riding along the upward white parallel channel
NIFTY riding above 20-, 50- & 200-week moving averages
RSI > 70, indicating strong bullish momentum
MACD well above the 0 line & in green zone, indicating bullish momentum
Daily time frame
NIFTY crossed the previous all-time high intraday but could not sustain while closing
NIFTY riding above 20-, 50- & 200-day moving averages
RSI > 60, indicating bullish momentum
MACD crossover extended & is above 0 line, indicating momentum
Hourly time frame
NIFTY continues to consolidate along the yellow resistance line
NIFTY riding above 20-, 50- & 200-hour moving averages
RSI > 60, bullish momentum still intact
MACD above 0-line, momentum still intact
Levels to watch out for
Monthly Timeframe: NIFTY is bullish until it goes below 21,300
Weekly Timeframe: NIFTY is bullish until it goes below 23,400
Daily Timeframe: NIFTY is bullish until it goes below 23,900
Hourly Timeframe:
a) NIFTY is sideways between 24,700 – 25,100
b) NIFTY is bullish above 25,100 (Target could be 25,700)
c) NIFTY is bearish below 24,700 (Target could be 24,300)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.