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Nifty50

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
Not much room to grow for Nifty unless it breaks the channel. Nifty hit the channel top today and immediately receded as there is not much space left of it to grow. Either it has to break the parallel channel and go above it or it has to fall to cool down the RSI and then come and fight to make a new high. It is obvious that as we hit levels above 23K there will be bout or bouts of profit booking too. With election results around keep expecting such volatile ralles and snap rallies. Supports for Nifty on the lower side are at 22877, 22775, 22716 and 22457. Below 22457 Nifty becomes a little weak. Resistances on the upper side for Nifty are at 22999, 23053, 23110 and finally 23150. Shadow of the candles is absolutely neutral.
NSE:NIFTY
by Happy_Candles_Investment
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NSE:NATIONALUMLong
by SasikumarMani
COAL INDIA HAVE BROKEN & SUSTAINED ITS PREVIOUS ALL TIME HIGHPREVIOUS STUDY SHARED ON 06 MAY 2024 .... Company is almost debt free. Stock is providing a good dividend yield of 5.11%. Company has a good return on equity (ROE) track record: 3 Years ROE 51.8% Company has been maintaining a healthy dividend payout of 51.8% New Projects 9MFY24 1 Environmental Clearance : EC has been obtained for 14 Proposals (Incremental EC Capacity of 9.85 MTY). 2 Forest Clearance : 1 proposal of wild life clearance (121.58 Ha) has been secured. 3 CIL has approved 5 Coal Mining Projects with a total capacity of 60.04 MTY and incremental capacity of 33.24 MTY. Solar Power Generation Aim to set up 3GW capacity of solar power projects to become net-zero by FY 25-26. CIL intends to add another 2 GW of renewable energy, aiming for a total installed capacity of 5 GW.CIL is also participating in PAN-India Solar tenders of GUVNL, SECI etc to achieve the target of 5 GW. CIL has entered in an MOU with Rajasthan Rajya Vidyut Utpadan Nigam Ltd to develop Solar Power Project at Solar Park in Rajasthan.
NSE:COALINDIALong
by iism-ExpertTrading
Nifty What ifs? it is 2004 again / seats are close to 400. Last phases of election are going on the result will be declared on 4th June the talk of the town is what will happen to Nifty if election is won by someone who is expected to win the general elections in India and what will happen if the results are unexpected. We can not predict elections and we can not predict how the Nifty will behave but certainly the charts which are representations of human emotions tell us a story and give us projections which we have seen are very close to being accurate. We have taken the help of Fibonacci retracement and parallel channel to help us understand where human emotions can lead Nifty to. Scenario 1) 2004 (History repeats itself)(Thunder seldom strikes twice in the same place but what if?) Let us talk about unexpected scenario like what happened in 2004. In this case market will definitely market will take a hit. The support levels for Nifty in such a case will be 20391. 20391 happens to be our channel bottom additionally it is also a Fibonacci support. If the Nifty falls below 20391 which it potentially can as investor emotions rather than valuations will take precedence the next support will be at 18688. In case 18688 will not hold (which is unlikely) worst case scenario as of now is Mother line support 50 Months EMA is at 17358. (This is what chart tells me as of now). In case of hung parliament / policy paralysis / War like situation at border and major internal strife Nifty may even fall to 15471.) In short there will be a lot of wealth erosion initially but nevertheless market will stabilize and upward journey will definitely begin once again if the euphoria of loss settles down. As companies will adjust / adapt and keep performing. The show will go on. When Trump lost US experts were saying that US market will have a free fall but against all odds US markets saw new highs in Biden term. Always remember that markets are unpredictable. Scenario 2) Seats are close to 350 or 400. The Euphoria and mad valuations in some stock might continue for a while but surely there will be Profit Booking fall sooner than later. The Major Nifty Resistance is near 23608 which also happens to be a mid channel resistance. That can be a potential point of profit booking. If we get a closing above 23608 which is less likely in near term, but you never say never. Or whenever in future we get a closing above 23608. This will open the doors for long term target of 27K. In 4/5 years time the best case scenario seems to be Nifty between 27 and 30K. Scenario 3) Seats are between 250 and 300. It will be victory or close to victory nevertheless it has potential to damage emotions of the investors and profit booking cycle can begin right then and there. 21376 or 20391 is possible even in such a scenario. Eventually when dust will settle and valuations are affordable again Nifty will restart it's journey towards 23608 in this case. I hope that the above Technical analysis will help you in bracing yourself for impact on D-day that is 4th June. Even if the landing is going to be smooth airlines always asks us to wear seat belts. In cars also we wear seat belts for safety. On bike we are supposed to wear helmets. What are all these equipment for? Safety. Safety mechanism of Stock market is Stop loss and Trailing stop loss. Keep them in a proper place whether it is scenario 1, 2 or 3. It will save you in case of scenario 1 or 3. Incase it is scenario 2 some of your stop losses may be hit and then the stock will run upward but remember it will be loss in profit. Loss in profit is better than loss. No one in the world has become a pauper by keeping stop losses. Disclaimer: There is a chance of biases including confirmation bias, information bias, halo effect and anchoring bias in this write-up. Investment in stocks, derivatives and mutual funds is subject to market risks, please consult your investment advisor before taking financial decisions. The data, chart and other information provided above is for the purpose of analysis and is purely educational in nature. The names of the stocks or index levels of spot Nifty mentioned in the article are for the purpose of education and analysis only. Purpose of this article is educational. Please do not consider this as a recommendation of any sorts.
NSE:NIFTYLong
by Happy_Candles_Investment
ATH Breakout for Nifty but has the rally got more steam?Major ATH All Time high Breakout for Nifty today however Nifty could not cross the much coveted level of 23K. Can Nifty do to it tomorrow? has it got the steam? RSI is high indicating that Nifty is getting overbought and valuations of a lot of stocks are very pricey. However there might still be opportunity left in a few Large cap stock specially IT, Banking and Finance space which have fallen out of favour of investors lately. Valuations in some PSU, Mid and Small Case space are questionable currently and we advise keeping a strict trailing stop loss wherever you have good profit. Remember nobody has ever become a pauper by booking profits. Keep strict trailing Stop Losses. They are best friends. Loss in Profit is ok but Profit to loss is not ok. Nifty Major Supports levels: 22784, 22507 and 22298. Major Future resistance levels: 22293, 23060, 23208 and 23407.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY - Quick Analysis - 23rd MayTwo weeks back when we had a look at the NIFTY, the index was moving down after making a double top like formation, it was approaching a good support zone around 21710-21840. It did take support from this zone, reversed and started moving up. Then we had a Bullish “W” like pattern. Now it has taken out the previous rejection zone at 22795-22550. Today we saw a Bullish widespread bar on increased volume closing at the top. We can see the momentum also flipped to the positive side. Now we can expect the NIFTY to move to the top of the inclined channel or the supply line of the inclined channel. The top should be around 23300 from where we could see a reaction. So next week we could see the NIFTY approaching this level and it could hover around this level till election result. And quite possibly. based on the Election result on the June 4th, it may break about the channel supply line and move into a higher trajectory.
NSE:NIFTY
by karthikmarar
U-formation on cards if resistance at 22632 is cleared by Nifty.It looks like Nifty can create a U formation if the resistances at 22632 is cleared and we get a proper closing above it. However for perfect U-formation the Nifty will have to cross other resistances at 22693, 22734, 22768 and finally 22794. In case we do not get a closing above 22632 and Nifty returns the supports for Nifty will be at 22536, 22484 and 22445. Below 22445 there are important support levels of 50 and 200 EMA which are 22409 and 22345. Below 22345 Nifty becomes very weak and Bears take over the market. Shadow of the candle is neutral to positive for tomorrow.
NSE:NIFTYLong
by Happy_Candles_Investment
1
NIFTY INTRADAY LEVELS FOR 23/05/2024BUY ABOVE - 22640 SL - 22590 TARGETS - 22710,22780,22830 SELL BELOW - 22550 SL - 22590 TARGETS - 22500,22440,22350 NO TRADE ZONE - 22550 to 22640 Previous Day High - 22640 Previous Day Low - 22500 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
Nifty returning from 22591 indicates strong resistance zone.Nifty returning from high of 22591 has given indication of strong resistance zone ahead. Also closing above Mid-Channel resistance was a good move but still it is not a convincing upward gallop with market breadth remaining negative and FII still selling relentlessly. Some decent mid and large cap stocks are not moving despite good results and some average stocks and PSU are moving towards exaggerated valuation. PE investing or comparing the 10 year PE to the current PE of the stock should be the way to go for investors. Do not get trapped at levels which might not return for years. (I am nor fear mongering but that should be the case in every and any circumstance anyway.) Nifty Supports levels: 22470, 22402, 22345, 22257 and 22055. Nifty Resistance levels: 22530, 22591, 22658, 22730 and 22831.
NSE:NIFTY
by Happy_Candles_Investment