Nifty 50 IndexLong
Nifty is again a rising star..
We today saw Nifty rising like a Phoenix to close the day at 24768 after making a low of 24180. In one of the most volatile session Nifty gained 588 points from day's low. The rise was from the right side bud of the star formation which gave superlative support to Nifty on the weekly chart. The weekly candle formation is of the shape of Thor's hammer which means further upside cannot be ruled out subject to Nifty closing above 24860. In such a scenario further resistances for Nifty will be at 25240 and 25514.
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25514 is the sigma resistance of the Star which can be little difficult to conquer but in case this level is conquered by Bulls further upside of 25665, 25919 and finally 26K+ levels cannot be ruled out. Supports for Nifty remain at 24500, 24184, 23907, 23396 (Mother line of 50 Weeks EMA) and finally 23187 which is the channel bottom support.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. Link to buy my book from Amazon is available below in my signature.
25514 is the sigma resistance of the Star which can be little difficult to conquer but in case this level is conquered by Bulls further upside of 25665, 25919 and finally 26K+ levels cannot be ruled out. Supports for Nifty remain at 24500, 24184, 23907, 23396 (Mother line of 50 Weeks EMA) and finally 23187 which is the channel bottom support.
Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
Disclaimer
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