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NIFTY

NIFTY Excellent long-term buy opportunity.Nifty 50 Index (NIFTY) has been trading within a long-term Channel Up pattern since the June 17 2022 low and recently has found itself on a correctional 1.5 month wave under the 1D MA50 (blue trend-line) towards the 1D MA200 (orange trend-line). Last week the 1D RSI breached the 30.00 oversold mark and immediately rebounded. It hasn't been that low since June 17 2022, which was the very start of the long-term Channel Up. As a result, those are indeed technically underpriced levels and this Channel Down correction on the RSI resembles the bearish leg of August - September 2022, which stopped before the 0.5 Fibonacci retracement level and resumed the Channel Up uptrend. As a result, if the 1D MACD forms a Bullish Cross (as October 17 2022), it will confirm the oversold bullish reversal signal of the RSI. As long as the 0.5 Fibonacci level (18530) holds, we are bullish on the index, targeting the -0.236 Fib ext at 21000 (which is where the December 01 2022 Higher High was priced). It has to be mentioned that the symmetry of the Channel Up rallies is indeed quite strong. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NSE:NIFTYLong
by TradingShot
Nifty forming a good channel on hourly chart. Nifty is forming a good channel on hourly chart and things are looking positive for now. Once the Nifty crosses and closes above small resistance of 19145 and 19177 and hold that support. (It is very much possible that Nifty opens gap up above 19177 which will be very good technically, the next targets for spot nifty will be 19230, 19353 and 19425. Support on the lower side are at 19070, 19007 and 18935. Expecting a good closure to the week as things right now look positive. Some big negative news from Middle East can still spoil the party so be cautious.
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY detailed Prediction analysis for 2nd Nov NIFTY was quite Bearish yesterday as we discussed the levels and trendlines respected quite well. A trendline is broken to downside and selling presure was more to downside, by looking of the trend yesterday nify seems bearish for this week. Reason: 200 EMA Resistance (Good Resistance) (Bearish) Price Action Resistance (Red Zone upside) (Bearish) Yesterday Heavy selling presure Price < (13,50) EMA (shows bearish) PCR = 0.68 (mild Bearish), MAX Pain = 19100 RSI < 40 (Bearish) Verdict: Bearish Plan of action: as its expiry it might be sideways. so play based on levels
NSE:NIFTYShort
by finnova_
US FED Pause can give the Market a much needed Booster doseThe market was crumbling under the pressure of crisis in the Middle East since last few days but the news of US FED Pause in the rate hike can give the Market, a much needed Booster dose. The things can turn positive from here because of the news mentioned above as well has market respecting the support zone between 18985 to 18839 zone. Last 2 to 3 days have seen a consolidation of sorts, which can charter the path or market recovery. Important resistance levels for Nifty will be 19094 and 19230. Above 19230 the major resistance level will be near 19472.
NSE:NIFTYLong
by Happy_Candles_Investment
Mid Channel Resistance stopped Positive looking NiftyMid channel resistance acted on positive looking Nifty and levels above 19230 could not sustain. Closing below Mid channel resistance is not a good sign. If Nifty had closed above 19230 we would have seen a sharp rise. Now we are looking at an important support level of 19033. If Nifty can give a closing above 19033 tomorrow it will be considered a positive signal again. If Nifty is not able to sustain above 19033 then again the recent low of 18837 will be tested. If 18837 is not held in the coming week we may see a dip again upto 18489 levels. (Looks little unlikely but you can never be sure with the global tensions going on). Resistances on the upper side will be 19124 and 19230. Above 19230 the next resistance will be near 19492.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY Shifting to a long term buy.Nifty 50 turned oversold last Thursday on the 1D technical outlook and that attracted investors which restored the timeframe from oversold to just bearish (RSI = 38.950, MACD = -141.600, ADX = 34.223). This shows considerable buying strength, a little over the 1D MA200, a support level that is holding since April. The price action look very much like August-September 2022, when again a nearly oversold 1D RSI on the 1D MA200, kickstarted a rise to a HH on the 1.5 Fibonacci level. We see a similar trend emerging, so take this opportunity to enter in its start and target again the 1.5 Fib (TP = 20,950). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NSE:NIFTYLong
by InvestingScope
Nifty - Elliott Wave CountNifty - Elliott Wave Count It is important to note that the market trend in Nifty has broken and it is likely to decline towards the range of 19000 as long as the level of 19850 remains secure on the upside. If you have previously taken long positions based on our previous view, it is recommended that you square off now and consider switching to short positions with a 19850 stop loss. Long positions can still be considered with caution. Please note that if the market breaks 19850, then the previous view will no longer be valid. Please note that this information is solely for educational purposes, and it is essential to exercise caution when trading. NSE:NIFTY NSEIX:NIFTY1! NSE:NIFTY1!
NSE:NIFTYShort
by Treda_pro