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Nifty50

Sandwiched between Support and Resistance with positive biasNifty is perfectly sandwiched between strong support and strong resistance but the bias which was negative for most of March is fading. It is a very very critical day tomorrow. Nifty has already closed on Wednesday above a critical resistance of 17060 giving it a positive bias. Now the most critical resistances that remain to be conquered are 17137 and 17261. Above 17261 Nifty can race to 17408 levels where there is another critical resistance and that a big one of 200 Weeks EMA. Nifty closing the month above 17137 will be great for momentum to be carried forward to April 2023. If Nifty can close above 17261 it can be a momentum shift and Bulls can think of making a come back in April in that case. Strong Support on the lower side remain at 16825 levels.
NSE:NIFTYLong
by Happy_Candles_Investment
So What is happening in Nifty? What to expect this week?Certainly the global headwinds in banking and inflation are rocking the markets all over the world. India with strong economic momentum is a bright spot in global economy but it is still feeling the effect and can continue to feel so in the short to medium term context. In the long run Indian story certainly looks at good valuation. As soon as US Fed signals for a Pause Indian indices will certainly pick up the lost momentum and range bound trading sessions. The pattern that is forming right now on Nifty is called Base Formation pattern and certainly in past whenever we have seen such patterns we see a 500 to 1000 point rally. At times the base formation pattern fails too and goes for further consolidation at a step below. The step below in this case can be 16747 level if this base breaks or 16347 level as we can read the chart right now. In case of taking off from this base the major resistance can be near 17543/17532 levels where we have 50 and 200 days EMA. If these levels are crossed the next resistance can be 18170 to 18260 range. If Nifty launches from here the relief rally can be seen. Next week and monthly closing above 50/200 EMA is required for rally to become significant in any way.
NSE:NIFTYLong
by Happy_Candles_Investment
#Nifty 27th March 2023 | Falcon Trader AnalysisHello traders, Right now you have great opportunity to make money if you follow stop loss, risk management and position sizing. Nifty is ready to fall down, and with possible internal wave 2 near 17000 levels - 17100 levels can give you a opportunity to sell and short this market which is nothing but bubble. I am looking at 16400 levels in next 20-25 days, probably before that if internal 3 or 3 is fast, we can see 16700 within next 2 days. All the best, and happy trading.
NSE:NIFTYShort
by Falcon_Trader_1
NIFTY Monthly Divergence Indicates Bearishness for Months !!This is not to scare anyone ! But I have rarely seen any divergence on Monthly NIFTY50 chart. A monthly divergence indicates bearishness that might last for several months. Good thing is that, divergence has about 30% failures, and bad thing there is about 70% chances of happening this. My initial target would be about 15500 and further direction may be decided based on price action there. Whats Happening on the weeklies: Good thing is that, the early weekly candle appears it is getting rejected from previous weekly low of July 21. However, almost four trading sessions to go!!! Breaking these level would be more downwards. However, some pull back from this level is possible. The hourly chart below is also showing some bullish divergence, indicating some reversal from here. But God Knows how long that will hold.
NSE:NIFTYShort
by KachraStocks
Great Fightback by the Nifty in last 90 - 100 MinutesLast 2 hours today saw Nifty forming a bottom near 16828 that was the low of the day and making a pretty solid comeback. The momentum can lead us to open in positive and as US and other Global markets are supporting possibly Gap up opening tomorrow. If Nifty can sustain above 17061 tomorrow and move above 17142 tomorrow or later in the week. We can see a relief rally towards in the 17540 and 17650. 17221 and 17323 will be other important resistance points in this upmove. If Nifty can't sustain and close above 17061 we might be looking towards another dip towards 16900, 16850 or 16747. FOMC meeting of US FED on Wednesday will be the game changer for end of the month. Let us see if we have a marvelous ending of March or Melancholy March.
NSE:NIFTYLong
by Happy_Candles_Investment