NIFTY | 27-AUG-2024
NIFTY | 27-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 above the 0 line & in green zone, indicating bullish momentum
Daily time frame
NIFTY on the up move after a recent “higher low” formation
NIFTY riding above 20-, 50- & 200-day moving averages
RSI > 60, indicating bullish momentum
MACD crossover completed & is above 0 line, indicating momentum
Hourly time frame
NIFTY on the up move after a recent consolidation near 24,850 ( previous resistance)
NIFTY riding above 20-, 50- & 200-hour moving averages
RSI > 80, indicating solid bullish momentum
MACD crossover completed & is above 0 line, indicating momentum
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 above the 0 line & in green zone, indicating bullish momentum
Daily time frame
NIFTY on the up move after a recent “higher low” formation
NIFTY riding above 20-, 50- & 200-day moving averages
RSI > 60, indicating bullish momentum
MACD crossover completed & is above 0 line, indicating momentum
Hourly time frame
NIFTY on the up move after a recent consolidation near 24,850 ( previous resistance)
NIFTY riding above 20-, 50- & 200-hour moving averages
RSI > 80, indicating solid bullish momentum
MACD crossover completed & is above 0 line, indicating momentum
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.