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Niftyanalysis

Nifty Short , Medium & Long Term View-15-Jan-24 to 19-Jan-24Nifty Short , Medium & Long Term View-15-Jan-24 to 19-Jan-24 Nifty closed at 21894(Prev Cloase 21710 ) and touched low & high of 21931 & 21449. RSI and stochastics levels ( 70% & 95 % Respectively). Stochastics is in overbought zone. Market decisively closed above 21800-21850. Purchasing Nifty IT at lower levels proved effective as the Nifty IT index underperformed than other index, hence it moved up. Simillar run expected in Nifty Bank index, despite bank results were good in Q2 and expected to post good results in Q3 it didnt moved up considerably. Hence next move likely will be in Nifty Bank index. Fibonacci extended resistance is near to 22500 as shown in chart. nifty will move to next target 22308 ( Fib Resistance)/22521. Nifty IT had a good run in last month with expectation of growing world economic condition especially US. Nifty IT posted flat or negative results in Q3. But to a surprise Nifty IT moved up 4-5% up. Expectation of Q3 results especially bluechip companies, certain bank stocks market may go upwards to 22500 due to the current scenario. Profit booking upto 30% was suggested in the last month, Almost i have booked 20% profit in Equities & Mutual Funds. 100% of ulip shifted from equities to balanced funds & money market as we get free switches in ulip. Market can any time expected to turn volatile and it will continue till Q3 results, Feb budget & till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024. In Feb, Temporary budget most likely to favour income tax payers inorder to keep in mind of elections and to concentrate on infra (Railways & Road). Infra Stocks, undervalued bluechip stocks can be considered. Q3 Results & Policy changes are need to be looked into for next year growth of Nifty. Nifty- Short Term ( Positive) Resistances are at 22000, 22155, 21308, 22521 Support at 21459 (fib Resistance), 21260 ( trend line Resistance),21000, 20800 Nifty Medium Term & long Term ( neutral)- Can achieve 22500 target Support at 20500 ( Fib Support) , 20225 ( prev high), 20000 ( Fib Resistance) Long Term market expected range bound between 22500 to 18800 expected till mid of 2024. however if Q3 results are good, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance).
NSE:NIFTY
by karthikss
Breakout in Nifty Observe the last two 15 minutes candle of the nifty chart. The second last candle was an indecesive candle with huge volume than the following last candle is a green opening morubozu with a greater volume than the previous candle, formation of the both candle is a bullish engulfing pattern. As per the previous nifty analysis for longer time frame my view was bullish,view is still intact seeing the performance of nifty in previous daily session. As of intraday I expect a gap-up tomorrow(15/01/2024) in this case i will wait for the price action to form opportunity and to present itself, other than this in case of of sideway opening or gap-down opening it would be best to wait for a retest of 21800-830 level or a breakout above previous week high. NSE:NIFTY Disclaimer- Just for educational purposes.
NSE:NIFTYLong
by anway1436
Nifty closed strongly above 50 hours EMA more upside possibleNifty closed strongly above 50 hours EMA after testing exactly the channel bottom drawn and shown by us from last few days more upside is possible but important resistances for Nifty to cross on the way up will be 21661, 21718 and 21768. closing above 21768 will open the doors for 22K+ again with resistances at 21830 and 21927. Supports for Nifty on the lower side are at 21604, 21514 and 21457. Below 21457 bears wake up again. Things look positive for a good start tomorrow but later in the day there can be some resistance + Selling pressure at 21661 and 21718 or 21768.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Short , Medium & Long Term View-08-Jan-24 to 12-Jan-24Nifty Short , Medium & Long Term View-08-Jan-24 to 12-Jan-24 Nifty closed at 21710 (Prev Close 21726) and touched low & high of 21839 & 21490. RSI and stochastics levels ( 69% & 85 % Respectively). Stochastics above 80 and still in overbought zone. Market was almost flat last week. Could not take decisive close above 21800-21850. Fibonacci extended resistance is near to 22500 as shown in chart which is 5 % from current level. nifty need to decisively close above 21800-21900 Zone in order to move to next target 22000/22500. Profit booking upto 30% was suggested in the last month, Almost i have booked 20% profit in Equities & Mutual Funds. 100% of ulip shifted from equities to balanced funds & money market as we get free switches in ulip. Market can any time expected to turn volatile and it will continue till Q3 results, Feb budget & till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Individual stock pick will be the key in 2024. In Feb, Temporary budget most likely to favour income tax payers inorder to keep in mind of elections and to concentrate on infra (Railways & Road). Infra Stocks, undervalued bluechip stocks can be considered. Nifty IT had a good run in last month with expectation of growing world economic condition especially US. Nifty IT expected to post flat results in Q3. But in expectation of Q3 results especially bluechip companies, certain bank stocks market may go upwards to 22500 due to the current scenario. Q3 Results & Policy changes are need to be looked into for next year growth of Nifty. Nifty- Short Term ( Neutral) Resistances are at 21800-21850 , 22000 ( however no trend line, fibonacci resistance are available). Support at 21260 ( MA 21 ) ,21000, 20900 Nifty Medium Term & long Term - Market decisively closed above 21000 last week and near to 21500 Can achieve 22500 target if close above 21900 decisively. Support at 20500 ( Fib Support) , 20225 ( prev high), 20000 ( Fib Resistance) Long Term market range bound between 22500 to 18800 expected till mid of 2024.
NSE:NIFTY
by karthikss
Nifty Short , Medium & Long Term View-26-Dec-23 to 29-Dec-23Nifty Short , Medium & Long Term View-26-Dec-23 to 29-Dec-23 Nifty closed at 21349( Prev Week close 21496) and touched low & high of 20970 & 21590. RSI and stochastics levels reduced from overbought zone ( 72% & 69 % Respectively) . Market currently on a upward movement due to global run and had slight consolidation last week. Two Fibonacci extended resistances are near to 22500 as shown in chart which is 5 % from current level. Since there is a upward movement in global market, nifty expected to move up temporarily to 21750 / 22000 though Market is still in overbought zone. Profit booking upto 30% was suggested in the last three weeks, Almost i have booked 20% profit in Equities & Mutual Funds. 100% of ulip shifted from equities to balanced funds & money market as we get free switches in ulip. Market can any time expected to turn volatile and it will continue till Q3 results, Feb budget & till elections in 2024 (Apr-May). Company Earning per share (EPS) are near to maximum level, expected policy / budgetary push to move up further in 2024. Feb Temporary budget most likely to favour income tax payers inorder to keep in mind of elections and to concentrate on infra (Railways & Road). Nifty IT had a good run in last few days with expectation of growing world economic condition especially US. But in expectation of Q3 results especially bluechip companies, certain bank stocks market may go upwards to 22500 due to the current scenario. Q3 Results & Policy changes are need to be looked into for next year growth of Nifty. Nifty- Short Term Resistances are at 21750, 22000 ( however no trend line, fibonacci resistance are available) Support at 20800 ( MA 21 ) ,20500 ( Fib Support) , 20225 ( prev high) Nifty Medium Term & long Term - Market decisively closed above 21000 last week and near to 21500 Can achieve 22500 target if close above 22000 decisively. Support at 20225/ 20000/ 19850 Long Term market range bound between 22500 to 18800 till elections are completed.
NSE:NIFTY
by karthikss
Positive sentiment dragging Nifty further. Daily Chart of Nifty 50 suggests us that Nifty has hit the resistance zone. The zone between 21505 and 21665 is a resistance zone and has multiple resistances. Nifty continues as on date to be overbought. The reason of Nifty not falling is support from FII buying and multiple technical supports between 21352 and 21246. If 21246 is broken Nifty can fall to 21037 or even 20776 levels. 20776 should be considered a major support. If by chance we see a closing Below 20776 bears will get out of comma and can try to drag Nifty to 20502 or even 20178 levels. This should be the range of Nifty for the next 15 days to 1 month. Momentum of Nifty remains strong as on date and every dip is being bought. Such stage can lead to euphoria and investors getting trapped at higher levels. One needs to be very choosy in selecting the scripts while investing as always but more so in the stage of rally we are currently.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Short , Medium & Long Term View-18-Dec-23 to 22-Dec-23Nifty Short , Medium & Long Term View-18-Dec-23 to 22-Dec-23 Nifty closed at 21496( Prev Week close 20520) and touched low & high of 20776 & 21496. Market touched all time high of 21000 last week and then almost to 21500 without any stoppage after a massive run post election results of 3 states and US Fed rate reduction plan, followed by global stock market run. RSI and stochastics levels are in overbought zone ( 85% & 98 % Respectively) . Market currently on a upward movement due to global run, clear immediate resistance for reversal are not available. Already market grown 10% from 19500 level. Two Fibonacci extended resistances are near to 22500 as shown in chart which is 5 % from current level. Market can any time turn to volatile and expected to continue till Q3 results, Feb budget & till elections in 2024 (Apr-May). Feb Temporary budget most likely to favour income tax payers inorder to keep in mind of elections and to concentrate on infra ( Railways & Road). Banks gave good results except HDFC bank due to merger. Nifty IT had a good run in last few days with expectation of growing world economic condition especially US. Capital Goods and other companies posted average results. But in expectation of Q3 results especially bluechip companies market may go upwards to 22500 due to the current scenario. Q3 Results & Policy changes are need to be looked into for next year growth of Nifty. Nifty- Short Term Resistances are at 21750, 22000 ( however no trend line, fibonacci resistance are available) Market is in overbought zone. Profit booking upto 30% was suggested in the last two weeks, Almost i have booked 20% profit has been booked in Equities & Mutual Funds. 75% 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 decisively closed above 21000 last week and near to 21500 Can achieve 22500 target if close above 22000 decisively. Support at 20225/ 20000/ 19850 Long Term market range bound between 22500 to 18800 till elections are completed.
NSE:NIFTY
by karthikss
Be cautious while travelling in the Runaway Train (Nifty). Passengers of the Runaway Train (Nifty) need to be cautious now. The current Nifty rally has hit the Euphoria phase. India is watching a Bullet train rally and probably the station is near by. Reasons behind the rally are: 1) Recent Assembly elections considered as Semi Finals before the lok sabha elections of 2024 met the market expectations. 2) US Fed continued a the rate hike Pause and there were some indications of rate cut cycle starting in 2024. 3) Some opinion polls suggesting return of the incumbent government for the Third time in India. Political Stability is what market loves. If we add global factors like rate hike pause that gave a steroid dose to the markets. The question is: What should the investor do now? 1) Book Profit in the risky / mid-cap / Small-cap stocks with weak fundamentals. At least partial profits can be booked. 2) Find avenues where growth is still possible. Choose stocks with strong fundamentals / Monopoly / Strong MOAT. (Some large caps companies fall in this category) 3) Look at the Technicals and Fundamentals of the company you are investing in. 4) Be very choosy. I am an advocate of staying invested in the market come what may but portfolio rotation, some reshuffling profits into fundamentally strong players with vision for growth is need of the hour. As far as support and Resistance levels are concerned the next fibonacci resistance will be at 21607. If the euphoria continues into reminder of the month we may even see the levels of 22180. If the momentum continues further into 2024 I see the rally reaching 22922 or 23000 levels. Supports at the lower level are 21235, 21078. 20795 level will be a strong support level falling below which bears will start breathing again.
NSE:NIFTY
by Happy_Candles_Investment
Nifty is a Runaway Train on Steroid. As Predicted post FOMC Rate Pause decision and a murmur of rate rate cuts starting in 2024. Nifty got a steroid dose as expected and became a run away train. May be there is some more momentum left in the rally and a good close in the green to end the week will be icing on the cake. The resistances on the upper side of Nifty will be near 21212, 21266 and finally 21312. Closing above 21312 will open the channel going towards 22300+. Supports for Nifty on the lower side will be at 21125, 21074, 21040, 20953 and 20901. Trend can change below 21769. Right now momentum looks good but some consolidation cooling down of Index can also be helpful for the long run.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty holding above 20900 is a good sign but one dip is overdue Nifty holding above 20900 is a good sign but one dip towards 20500 or 19900 is overdue now. The RSI is indicating overbought zone requiring a time consolidation or correction. In case of correction the supports for Nifty will be around 20851, 20708, 20506 (Strong Support), 20259 or 19903 (Major Support). If Nifty manages to close below 19903 this month Bears can write their own comeback story. Resistances on the upper side are at 21026, 21292 and 21436. Long Term Target for Nifty in 2024 will be 22746.
NSE:NIFTY
by Happy_Candles_Investment
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
H & S Breakout in Nifty, Feels like Euphoria Phase of Bull-run.Head and Shoulder like Pattern in formed in Nifty. Currently Nifty looks like overbought. RSI is also above 80 and it feels like Euphoria Phase of Bull-run is activated. For how long the continuous bull run can persist is difficult to say as market can remain irrational more than investors can remain rational. To have a sustainable growth a little bit of correction or consolidation would be good but you never know. Bull-run is called a Bull-Run for a reason. Major fibonacci resistance for Nifty is near 20920. Supports for Nifty are near 20695, 20518, 20222 and 19736.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Short , Medium & Long Term View-04-Nov-23 to 08-Dec-23Nifty Short , Medium & Long Term View-04-Nov-23 to 08-Dec-23 Nifty closed at 20227( Prev Week close 19794) and touched low & high of 19807 & 20295. Market Decisively crossed the 20000 and crossed the all time high (20218) and touched 20295. Pre poll survey result and GDP Q2 growth boosted the market. Monday will be gap up opening due to the state elections results. Current government having confidence in sailing through next year parliament elections. Hence one of the major risk expected is almost resolved. Market expected to move up to 20500 initially. RSI and stochastics levels nearing the overbought zone ( 75% & 97 % Respectively). Nifty- Short Term Resistance at 20450-20600 zone marked with blue circle. Those are trend line resitances and also the 20500 Target ( Red Horizontal Line) resistance is dervied from % of difference between pre covid peak ( 12400 ) and covid low (7500 ) and that % is applied from the 12400 ( Pre covid peak) is calculated to 20500. As Market near to overbought zone a downward movement to 20000 / 19850 is possible in coming weeks. Market is in overbought zone.Complete 30% Profit booking as specified before around 20450- 20600 and better to be with cash. Support at 20000, 19850, 19691 & 19528 Nifty Medium Term & long Term - Market need to decisively close above 20570 to reach 21000 target. Support at 19345, 19230, 19164, 19000 Long Term market range bound between 21000 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