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Nifty50

NIFTY Major bullish break-out targeting 24650?The Nifty 50 Index (NIFTY) respected the former 6-month Channel Up last time we looked at it (April 30, see chart below), hit our 23100 Target and then broke the pattern: What the latest technicals show is that the emergence of the Megaphone pattern on the 1D time-frame, resembles that of July - November 2023. That structure made a -7.00% that found Support on the 1D MA200 (similar to the current one) and then started a strong rally that broke above the Megaphone. On the current fractal, Nifty is about to break above the Megaphone's Higher Highs trend-line and if it continues to replicated December 2023, then it should peak a little above the 2.0 Fibonacci extension. We will set a Target a little lower however, when it completes a +15.67% rise, i.e. at 24650. On a side-note, if at any given moment, the 1D RSI hits its Support Zone, we will buy it. It has given the most optimal Buy Signal the past 3 months. ------------------------------------------------------------------------------- ** 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
Fibonacci and Trendline resistance stopping Nifty.Last 4 days the fibonacci resistance and the trend line resistance are stopping Nifty from going ahead and growing ahead. This resistance is at 23338. If we get a closing above this level doors for the next Fibonacci resistance and target will open. In that case Nifty can reach 23450, 23542 or even 23897. In case the resistance acts and blocks Nifty from going further the support levels will be at 23205, 23060, 22772 and 22555 (50 Days EMA, Mother Line). Below this zone Bears will get some power and can drag Nifty to 22146, 21825, 21355 (200 Days EMA, Father Line) or even 21282. Let us see how US FED Pause is taken by the market tomorrow. There is also a talk by FED 1 rate cut during 2024. Nasdaq as of Now is positive indicating rally in IT continuing a little bit but let us see how it goes.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY INTRADAY LEVELS FOR 13 JUNE 2024BUY ABOVE - 23400 SL - 23370 TARGETS - 23500,23600,23700 SELL BELOW - 23300 SL - 23370 TARGETS - 23230,23150,23080 NO TRADE ZONE - 23300 to 23440 Previous Day High - 23440 Previous Day Low - 23300 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:NIFTY
by Jagadheesh_JP
Low of today is very critical support for Nifty.Low of today 23206 is very critical support for Nifty. If that is broken tomorrow or later during this week. It will be a typical sign of a top or double top formation. Indicating weakness which can find Nifty searching for supports. Supports for Nifty from current level are at 23206, 23074, 22995 (Mother Line Very Important support 50 hours EMA), Most critical support zone for Nifty In case of double top formation will be between 22712 and 22616(Father Line support 200 hours EMA). Below this zone will be Bear territory which can drag Nifty to 22408, 22094 or even 21268. On the positive side if the levels of 23206 is not broken. The resistances on the upper side or targets for Nifty can be 23339, 23412, 23542 or even 23700+(23500+ looks little optimistic rather than realistic looking at current formation of the chart.) There are some important events like US Fed rate hike decision. If there is no rate cut announced or if the commentary of US FED chairperson there is a possibility of profit booking by all counters. In case of a rate hike (unlikely) the Bull run can end for now. Watch out the Macro and Micro events like US FED Meeting and any development on allies of the ruling coalition in India behaving mischievously with caution. keep proper stop losses in place.
NSE:NIFTY
by Happy_Candles_Investment
Could not sustain ATH as Fibo level pulls Nifty back. Nifty after making a new all time high 23411 could not sustain the levels, as the Fibonacci resistance at previous high of 23338 pulled it back. Important resistance levels for Nifty now is the zone between 23338 and 23411. If the Nifty is able to give a closing above 23411 the next resistance will be channel and trend top near 23518. 23518 will be another tough resistnace to conquer. If this resistance is taken down the door towards the Nifty fibonacci level target of 23897 will open. On the lower side the support levels for Nifty are near 23229, 23159 and 23081. Below 23081 Nifty will become weak. Final supports for Nifty will be at 22895 and 22629. Below 22629 there is pure bear territory. Closing below 22629 (Unlikely for now) will end the current Bull run.
NSE:NIFTY
by Happy_Candles_Investment
Nifty nearing Channel top again, Can it break the glass ceiling?Nifty is nearing the Channel top again, Can it break the glass ceiling is the question the current top of the channel remains somewhere between 23303 to 23422. If we get a closing above 23422 the floodgates / glass ceiling towards new Nifty highs will be broken. The door towards new record highs of 23772 or even 24369 will be open. In case Nifty is not able to cross 23303 or 23422 the support levels for Nifty will be at 23091, 22793, strong support of 22762 (50 hours EMA) and 22580 even stronger support of (200 hours EMA). Nifty rally turns negative and bears come out of comma if we get a closing below 22500 (Very unlikely). In that case bears can drag the Nifty towards 21984 or 21577 region.
NSE:NIFTYLong
by Happy_Candles_Investment
Doji candle formed in Nifty today. Does it indicate upside?Today we saw a formation of Doji candle in Nifty. Doji candles indicates uncertainty. Colour of the Doji candle shows the bias which is green as of now. So the bias still remains positive with formation of stable government on cards. However on any new or noise from coalition allies the Bears can make a strong comeback. Doji today indicates that Bears are also equally active and are waiting for their chance of action. So be aware / be conservative in your choice of stocks. In terms of Cricket if we consider this a T-20 match this pitch is not a 200+ pitch. It is rather a green top where if a team scores 150-170 runs they can be difficult to chase. So what should investors do? They should keep stop losses. Stop losses are the best friends. Keep stop losses and trailing stop losses. Stop losses protect your capital. Trailing stop losses protect your profits. Nifty Resistance Levels: 22910, 23053, 23192, 23338. Nifty Support Levels: 22630, 22456, 22139, 21781 and 21277. Below 21277 is a bear territory and absolute hunting ground of bears.
NSE:NIFTYLong
by Happy_Candles_Investment
Very Powerful Comeback Candle sort of Bullish Harami.Nifty made a massive comeback today after the dust of election result settled. Whether NDA's comeback to power and can the Bull Run sustain is the key question. Both are interlinked as of now it seems. However on the technical grounds the formation on chart between yesterday and today's candle is a sort of Bullish Harami (Positive Candle formation). A positive candle formation in the next trading session will confirm the formation. Now the supports for Nifty are at 21261 (Father Line) and 200 EMA, 22139 (Mid channel support), 22413 (Mother Line) and 50 EMA and 22456. Resistances on the upper side for Nifty will be 22695, 22855, 23053, 23192 and finally 23338 (ATH Resistance).
NSE:NIFTYLong
by Happy_Candles_Investment
200 Days EMA comes to rescue of the market. 200 Days EMA comes to rescue of the market. Market which was shocked by the unexpected result was rescued by 200 days EMA today. You can see how it is supportive of Mother Father small child story that I propagate. PAPA line came to support of the falling market and there was a 603.05 points recovery. However the fall is 1379.4 points devastating fall. We can hope for a recovery if the levels of 21247 holds. However the most important resistance will be the MOTHER line of 21404. These two are the most important levels to track for this week and rest of the month. We can expect a recovery on announcement of a stable Government. Many stocks including PSU are coming near mouth watering levels with respect to Dividend yield. Other stocks which have nothing to do with result of the election have also taken a beating even though they were / are on a growth trajectory. So be wise and choose diamonds from the ruins.
NSE:NIFTY
by Happy_Candles_Investment
Fibo gives important levels for the Election rally. Election rallies can be considered as Bull Rallies on Dope they are extremely fragile at the same time they can break all the resistances in their way like a mad bull in rage. Expecting an extremely volatile day tomorrow. But space to grow on upper side is very limited. The RSI indicating market is close to becoming overbought but an election result which market expects can further the boundaries. Important Resistance levels: 23338 and 23537. Important Support levels: 23109, 23058, 22806 and 22559. Tipping point into bear territory will be a closing below 22417.
NSE:NIFTY
by Happy_Candles_Investment
Nifty closing this week looks like Calm before the storm.FII, DII and Retail investors are all awaiting Exit Polls and Actual results of election to follow thereafter. We have already discussed the best and the worst case scenarios. The candle formed today is Doji exhibiting indecisiveness. The support at which Nifty is standing is Mid channel. The other support which has been taken is 50 days EMA. Right now everything looks in balance. Lot of overpriced stocks corrected. Lot of underpriced stocks which gave good results exceled. Many more underpriced Banking and IT stocks are looking like value buys. Many overvalued Psu stocks look like them might again run further in case of expected results. Everything looks like it is on a tipping point. + or - 5 to 10% move depending on results is a definite possibility. DIIs have been buying all the way. FIIs have been selling all the way. Perfect recipe for a thriller to unfold next week. Everything is on a standstill. This weekend might be a calm before the storm. Nifty Supports: 22392, 22057, 21827, 21712 and 21221. (Worst case scenario 17597 in case the expected results are not seen in election). Nifty Resistances: 22672, 22829, 23140, 23226 and 23398. (Best case scenario between 23500-23600).
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Enters crucial Support Zone. Nifty has entered Important support zone. This zone extends from 22495 to 22386. Today's low of 22417 is also a very important level below which we will have only the support level of 22386 which is the 50 days EMA. Below 22386 bears will try their best to drag the Index to the levels of 21712 or even 21208. (This looks improbable as of now but you never know). DII was buying even today in this drastic fall while FII are selling relentlessly. With only 1 day left before we will have exit polls and then the actual election results on 4th June. Investors should brace for a few more days of volatility. If the result go against popular opinion then we can see further lower levels which are mentioned above. RSI has taken a turn and Mid channel has provided a support as of today. Resistance on the upper side are 22508 and 22829.
NSE:NIFTY
by Happy_Candles_Investment
Nifty 50 Index (NSE: NIFTY) AnalysisBased on the daily chart for the Nifty 50 Index (NSE: NIFTY), here is the summary and analysis: Key Levels: - Current Price: 22,488.65 - 50% Retracement Level: 22,458.10 - 61.8% Retracement Level: 22,324.60 - Target Price: 23,600 Chart Analysis: 1. Upward Trend: The chart shows an overall upward trend, with the index making higher highs and higher lows. 2. Retracement: The index is currently in a retracement phase, falling from its recent high of 22,705.75. The price has retraced to the 50% Fibonacci retracement level and is approaching the 61.8% level. 3. Support Zone: The blue shaded area represents a significant support zone between the 50% and 61.8% retracement levels. This zone could provide strong support and potential for a rebound. Potential Scenarios: 1. Bullish Scenario: - If the index finds support at the 50% or 61.8% retracement levels and rebounds, it could continue its upward trend towards the target price of 23,600. - Confirmation of a bullish trend would come with a strong bounce from the support zone and a move back above the previous high of 22,705.75. 2. Bearish Scenario: - If the index breaks below the 61.8% retracement level, it could indicate a deeper correction. - A break below this level could lead to further downside, possibly testing lower support levels not shown in the current chart. Trading Strategy: 1. Watch for Support: Monitor the price action closely around the 50% and 61.8% retracement levels. Look for signs of a reversal or strong buying interest in this zone. 2. Buy Position: Consider entering a long position if the index shows a strong bounce from the support zone with increasing volume and bullish candlestick patterns. 3. Stop-Loss: Place a stop-loss slightly below the 61.8% retracement level to manage risk in case of a further decline. 4. Target: Aim for the target price of 23,600 for the long position. Conclusion: - The Nifty 50 Index is currently in a retracement phase within an overall uptrend. The 50% and 61.8% retracement levels are critical support zones to watch. A strong rebound from this zone could lead to a continuation of the upward trend towards the target of 23,600. Conversely, a break below the 61.8% level could signal further downside. Monitoring the price action and volume around these key levels will be crucial for making informed trading decisions.
NSE:NIFTYLong
by The90sTraderOfficial
NIFTY Prediction Levels, Whats Next?Here is an interesting chart of NIFTY in 15 min time frame. I am currently in a nice profitable SHORT position. However, markets are very unpredictable around the election results, so I may lose all profits thats currently unrealized. I am willing to take that risk after coming from a 1300+ points BankNifty points gain and 600+ nifty points gain. Let's see the firework thats gonna start soon in the market. Disclaimer: Because election results are very near, please be careful with your position sizing. All the best.
NSE:NIFTY
by ProfitsNinja
From where can we see a turnaround in Nifty?After making a new high there has been relentless bout of Profit booking seen in Nifty. Volatility index probably peaked at 26.145 on Monday. It has come down a bit today to 24.175 but still it is in not relenting. Many stocks and indices seem to be hitting the oversold zone but still there might be little more pain in store for the investors this week. Probable turnaround zone for Nifty or supports are at 22685. If 22685 today's low is broken tomorrow Nifty can fall further to 22495 region. The zone between 22495 and 22382 has many strong supports including 50 days EMA Mother line and Mid-channel support. If by any chance 22382 is broken Nifty can see further free fall as bears will take full control. In such an unlikely scenario next supports will be at 22057, 21827 or even 21712.(In highly unlikely case of results not coming in favour of the ruling party) Nifty can fall further to 21195 or below. In case Nifty turns around from 22685 or from the zone between 22495/22383 the next resistances will be at 22829, 22990, 23140. Top of the current trend and channel top seems to be near 23266 region. In case the ruling government comes with a sound majority without facing any hurdles we may even see Nifty breaking the channel top and might go towards 23350, 23500 or even 23600 region.
NSE:NIFTY
by Happy_Candles_Investment
1
NIFTY INTRADAY LEVELS FOR 29 MAY 2024BUY ABOVE - 22950 SL - 22900 TARGETS - 23000,23100,23180 SELL BELOW - 22850 SL - 22900 TARGETS - 22780,22710,22640 NO TRADE ZONE - 22850 to 22950 Previous Day High - 23000 Previous Day Low - 22850 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:NIFTY
by Jagadheesh_JP
Consolidation and profit booking phase in Nifty. Nifty is seeing a consolidation and Profit booking phase after making a new All Time high. There was a massive pressure seen across indices. This phase and volatility which we have seen off late can continue for a while till election results are declared and a little bit post results too. FMCG and Pharma were the only 2 indices which withstood the selling pressure but broader markets were seen bleeding a bit specially the cash counters. Next one week or so will test the patience of investors and speculation should be avoided. Stay away from high risk counters and derivatives if you are not an expert. Support for Nifty can be seen near 22864 which is rather a weak support. Next support is near 22767 which is considerably strong support of 50 Hours EMA (Mother line). If 22767 is broken further support can be found only near 22602 and 22489. This zone is a strong support zone having mid channel support of the current channel and 200 hours EMA. Resistance on the upper side for Nifty are at 22937, 22999 and 23053. Above 23053 Nifty will become little strong and Bulls can further take the index to 23108 or 23150 levels which will be a strong channel top resistance.
NSE:NIFTY
by Happy_Candles_Investment