Nifty post today's closing just above 23K has officially closed below Mid Channel within the downward channel. This is not a great news for bulls. The only silver lining in the cloud is that the closing is above 23K at 23024.
Bollinger band is suggesting a support near it's lower band width that is 22936. Other supports for Nifty will be at 22785, 22465, 21886(Bottom of Parallel Channel) and 21232. Resistance on the upper side seem to be at 23355, 23542 (Mid-Bollinger band level), 23662 Father Line resistance of daily chart, 23878 Father line resistance of daily chart and finally 24148 (Channel top and Bollinger band top resistance). When channel top will be crossed and we get a closing above the same the next resistances will be at 24799 and 25134. Thus signs are looking ominous with RSI at 35.37. RSI support will be near 30 range.
Nifty has once again entered Extreme Fear zone on Ticker tape index which shows it currently at 27.21. The zone below 30 is Extreme fear zone and long term investors tend to make much profit when they invest in these Extreme fear zone. The budget is around the corner.
Donald Trump has taken oath and is taking decisions in a fast-forward T-20 mode. The momentum can shift any time. Global peace is also seeing green shoots with Israel and Palestine conflict ceasefire deal taking shape. We hope that Ukraine and Russia will also see a peaceful resolution. The hour before the dawn is the darkest. This looks like that zone for Global markets including India. Yes hardball tactics will be played by Trump and things will not come as easily as they were coming for India. We had once said that Trump will be good for the world as Biden was softer towards India on the outer surface.
In the long run we will soon begin to see light at the end of the tunnel. Little more pain may be left for Indian indices. Result season so far has been a mixed bag that is adding fuel to the wild-fire set by bears. Budget/ Quad meeting later this year and world moving towards peace can set the ball rolling for Bulls sooner than later. Once again I emphasize that sensibel investments done in the extreme fear zone yield to the best results in the long run.
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 or index. 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. I or my clients might have positions in the stocks that we mention in our posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
Bollinger band is suggesting a support near it's lower band width that is 22936. Other supports for Nifty will be at 22785, 22465, 21886(Bottom of Parallel Channel) and 21232. Resistance on the upper side seem to be at 23355, 23542 (Mid-Bollinger band level), 23662 Father Line resistance of daily chart, 23878 Father line resistance of daily chart and finally 24148 (Channel top and Bollinger band top resistance). When channel top will be crossed and we get a closing above the same the next resistances will be at 24799 and 25134. Thus signs are looking ominous with RSI at 35.37. RSI support will be near 30 range.
Nifty has once again entered Extreme Fear zone on Ticker tape index which shows it currently at 27.21. The zone below 30 is Extreme fear zone and long term investors tend to make much profit when they invest in these Extreme fear zone. The budget is around the corner.
Donald Trump has taken oath and is taking decisions in a fast-forward T-20 mode. The momentum can shift any time. Global peace is also seeing green shoots with Israel and Palestine conflict ceasefire deal taking shape. We hope that Ukraine and Russia will also see a peaceful resolution. The hour before the dawn is the darkest. This looks like that zone for Global markets including India. Yes hardball tactics will be played by Trump and things will not come as easily as they were coming for India. We had once said that Trump will be good for the world as Biden was softer towards India on the outer surface.
In the long run we will soon begin to see light at the end of the tunnel. Little more pain may be left for Indian indices. Result season so far has been a mixed bag that is adding fuel to the wild-fire set by bears. Budget/ Quad meeting later this year and world moving towards peace can set the ball rolling for Bulls sooner than later. Once again I emphasize that sensibel investments done in the extreme fear zone yield to the best results in the long run.
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 or index. 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. I or my clients might have positions in the stocks that we mention in our posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
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.