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NIFTY

NIFTY Prediction for tomorrow 12 Dec 23As we discussed yesterday, NIFTY did take resistance from the given resistance line and was sideways the whole day. For tomorrow, Nifty is expected to move into the inner zone. Two possible cases are explained in the chart. In case 1, it will be sideways in close range. If case 2, it might give you a little momentum to the downside. Reasons: EMA 50 is providing a nice support. on the upside trendline provides a nice resistance trendline. 20850 will be acting as a good Price action support point. PCR 0.93, which is bullish, but if we check OI the whole day, it was more of a round-off. Few new positions were created. People are waiting unless it's direction to be decided. RSI is 40-60, which is mostly sideways. according to OI 21000, it is working as MAX Pain, which is also a good psychological level. Price > EMAs, which means bulls are strong. Verdict : Sideways Plan of action: Sell 21000 CE and protect it with hedging.
NSE:NIFTY
by finnova_
2
Nifty Short , Medium & Long Term View-11-Dec-23 to 15-Dec-23Nifty Short , Medium & Long Term View-11-Dec-23 to 15-Dec-23 Nifty closed at 20520 (Prev Week close 20227) and touched low & high of 21006 & 20520. Market touched all time high of 21000 last week after a massive run post election results of 3 states. RSI and stochastics levels nearing the overbought zone ( 83% & 97 % Respectively) . Nifty- Short Term Resistance at 21082 ( Fib Resistance 1.618) and 21170 ( Calculated diff in % from dec 22 high 18906 to Mar 23 Low 16833). These above two resistances are critical as market in overbought zone. Market is in overbought zone. Profit booking upto 30% was suggested in the last week, Almost i have booked 10-15% profit has been booked in Equities & Mutual Funds. 50% of ulip shifted from equities to debt funds as we get free switches in ulip. Support at 20500, 20225 ( prev high) Nifty Medium Term & long Term - Market need to decisively close above 21170 to achieve 21500/22000/22500 target. Support at 19345, 19230, 19164, 19000 Long Term market range bound between 21170 to 18800 till elections are completed. Comment : Market Volatality expected to continue till Q3 results, Feb budget & till elections in 2024 (Apr-May). Banks gave good results except HDFC bank due to merger. Capital Goods and other companies posted average to average results. most of the stock screening shows to buy banks and NBFCs. only few stocks from capital goods and other stocks are showing promising results. pharma stocks gave outstanding returns and it is just starting. Stock Pick based on the Q2 result and projected growth of the stock is necessary. Q3 Results & Policy change need to be looked into for next year growth of Nifty.
NSE:NIFTY
by karthikss
Long Term Channel for Medium Term RangeThe Channel drawn shows Nifty from the pre-Covid era and covers major global events like Covid fall, post covid Nifty rally, Ukraine war, India-China standoff on border, US Fed rate hike cycle due to global inflation and recent crisis in the Middle East. Amongst all these news Nifty kept on growing and correcting and then growing again proving that the story of India remains intact. The Range in which it looks like Nifty will trade in the coming few months will be optimistically 22K to 18.9K. (18.9K is the worst case scenario in case there is some global mishap of major magnitude).
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Intraday Levels for 8 Dec 2023 I am sharing crucial NSE:NIFTY levels that serve as significant support and resistance points for intraday trading. To execute trades based on these levels, wait for a 15-minute candle closing above them. You can employ both breakout and reversal strategies in your trading approach. This channel is dedicated to sharing my expertise in trading strategies, technical analysis, and market trends. My goal is to assist you in making well-informed decisions throughout your trading endeavours. Stay tuned for daily updates, comprehensive market analyses, and real-time trading scenarios. Witness firsthand our journey from novice to expert in the trading world. My sole objective is to empower you with the knowledge and skills needed to navigate the intricacies of financial markets successfully. Identified through price action, major support and resistance levels are marked with lines as resistances and supports. If the price breaches a support or resistance, it is likely to move towards the next corresponding level. Important Note: These levels are intended for intraday trading purposes only. Disclaimer: All information provided on this page is for educational purposes. We are not SEBI Registered. Please consult a SEBI registered financial advisor for personalised advice before making any investment decisions. We are not responsible for any profits or losses incurred. Your support and engagement are appreciated. Kindly like, comment, and follow to show encouragement. View Only Mode Live chart Link www.tradingview.com
NSE:NIFTY
by sugatmankar
Much needed consolidation for Nifty at the top.Nifty is giving a much needed consolidation at the top before shifting gears and moving towards 21K or even 22K in the short to medium term. The Relative Strength Index of Nifty is still 82 which indicates things are pretty hot to handle still and need of more cooling down. Little bit of consolidation/correction would be ideal for a strong rally. But as said earlier market can remain irrational more than a an investor can remain rational. Closing of the week tomorrow will be important. Supports on the lower side remain at 20852 (Strong support), 20715, 20518 and 20315. Resistance on the upper side are at 20961, 21068, 21132 and 21183.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY Important levels for 7 Dec 2023 NSE:NIFTY Important levels for 7 Dec 2023 I am sharing crucial NIFTY levels that serve as significant support and resistance points for intraday trading. To execute trades based on these levels, wait for a 15-minute candle closing above them. You can employ both breakout and reversal strategies in your trading approach. This channel is dedicated to sharing my expertise in trading strategies, technical analysis, and market trends. My goal is to assist you in making well-informed decisions throughout your trading endeavours. Stay tuned for daily updates, comprehensive market analyses, and real-time trading scenarios. Witness firsthand our journey from novice to expert in the trading world. My sole objective is to empower you with the knowledge and skills needed to navigate the intricacies of financial markets successfully. Identified through price action, major support and resistance levels are marked with lines as resistances and supports. If the price breaches a support or resistance, it is likely to move towards the next corresponding level. Important Note: These levels are intended for intraday trading purposes only. Disclaimer: All information provided on this page is for educational purposes. We are not SEBI Registered. Please consult a SEBI registered financial advisor for personalised advice before making any investment decisions. We are not responsible for any profits or losses incurred. Your support and engagement are appreciated. Kindly like, comment, and follow to show encouragement.
NSE:NIFTY
by sugatmankar
NIFTY - What is Next on 07/Dec/2023In the Nifty chart, there are indications of a potential double top formation near the swing profit booking zone of 21003-20975. If prices decline from these levels without dwelling for an extended period, it raises the likelihood of exhaustion, potentially leading to profit booking and a descent to around 20875. Subsequently, a consolidation phase between 20875 and 20920 may occur. A breach below 20870 could trigger a further decline to the range of 20820-20800. If prices open lower and trade beneath 20875, traders are advised to wait for a test of the 20838-20822 range before initiating a buying trade, with a stop loss at 20800. The target for this trade is set at 20900-20930. Should prices dip below 20800 and linger, refraining from trade is recommended until an upward retracement occurs. Look for a short trade near 20850-20875 with a stop loss at 20900 if such a retracement takes place (position trade).
NSE:NIFTYShort
by LiveTradingBox
Nifty is Overbought currently in need of consolidation.With 21K in touching distance, Nifty is Overbought currently in need of consolidation or I dare say, little correction. However there is also a Hammer candle formation towards the top also indicates there might be some strength left in the rally on the back of Fresh spree of FII buying. Resistances on the upper side before we reach 21K is today's high 20961. With the closing that we received earlier this week. The long term channel towards 22K+ is also open now. Supports on the lower side are near 20852, 20715, 20518 and 20315.
NSE:NIFTY
by Happy_Candles_Investment