Nifty 50 IndexLong
NIFTY | 30-AUG-2024 |
NIFTY | 30-AUG-2024 |
Weekly time frame
NIFTY heading towards the upper part of the white parallel channel (resistance)
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 & also closed above it
NIFTY riding above 20-, 50- & 200-day moving averages
RSI > 65, indicating bullish momentum
MACD crossover extended & is above 0 line, indicating momentum
Hourly time frame
NIFTY closed above the yellow resistance line & above previous all-time high
NIFTY riding above 20-, 50- & 200-hour moving averages
RSI = 70, bullish momentum still consolidating
MACD above 0-line, momentum still intact
Levels to watch out for:
Long-term view
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
Short-term view:
a) NIFTY is sideways between 24,850 – 25,100
b) NIFTY is bullish above 25,100 (Target could be 25,500)
c) NIFTY is bearish below 24,850 (Target could be 24,500)
Weekly time frame
NIFTY heading towards the upper part of the white parallel channel (resistance)
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 & also closed above it
NIFTY riding above 20-, 50- & 200-day moving averages
RSI > 65, indicating bullish momentum
MACD crossover extended & is above 0 line, indicating momentum
Hourly time frame
NIFTY closed above the yellow resistance line & above previous all-time high
NIFTY riding above 20-, 50- & 200-hour moving averages
RSI = 70, bullish momentum still consolidating
MACD above 0-line, momentum still intact
Levels to watch out for:
Long-term view
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
Short-term view:
a) NIFTY is sideways between 24,850 – 25,100
b) NIFTY is bullish above 25,100 (Target could be 25,500)
c) NIFTY is bearish below 24,850 (Target could be 24,500)
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.
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.