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Niftyanalysis

Nifty Closed well on a testing day, another test awaits tomorrowNifty Closed well on a testing day, another test awaits tomorrow as the world awaits result of Voting in US Parliament to resolve Debt ceiling crisis. Global indices are down and awaiting the result eagerly. Support that spot Nifty has is today' low of 18483 from where the Nifty managed to recover today. The support may be tested tomorrow again. Just below it we have 50 Hours EMA at 18467 which might also be tested. Below these levels important supports remain at 18416 and 18379. Below 18379 Bear cartel can get activated. When Nifty has found a strong support and if result of Debt Ceiling crisis by raising the ceiling the resistances will be near 18576, 18600, 18637 and 18662. We still live in a world where if US sneezes the World catches cold. (Indian GDP numbers were great and can provide support to Nifty 50 and many other stocks.)
NSE:NIFTY
by Happy_Candles_Investment
Nifty 29 May 23 to 02 Jun 23 Short ,Medium and Long TermNifty 29 May 23 to 02 Jun 23 Short ,Medium and Long Term Nifty closed at 18499 ( 18203) and touched low of 18183. Nifty touched high of 18509. Nifty clearly moved up decisively above resistances mentiomed below though it bottomed out to 18061 in the previous week. Buy call was given on dip on 21-May-23. nifty followed the band resistance provided for last three- four weeks ( as mentioned below) and 3-4 days the resistance acted as support. 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines). Nifty broke resistance of 18274 and clearly moved above and closed near to 18500. RSI ,MACD and Stochastic have crossed the signals and at peak with Further room to move upwards. Nifty- short term is Neutral to Long. Need to decisively close above 18620 Nifty support at 18111/18204/18274 Buy on Dip Nifty Medium Term - Nifty expected to break 18620 and to touch previous high of 18890. Nifty have multiple support for Medium Term - 17865/18000/18111 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 Support at 17850 /17550 /17200 Long term Investors can accumulate following Mutual Funds NIFTY 50 & Nifty Equal weight ( 55%) Nifty Mid Cap ( 20 %) Nifty Small Cap (15%) Nifty IT (10%)
NSE:NIFTYLong
by karthikss
Strong Close by Nifty on Friday.Nifty has given a strong closing on Friday by closing above the Mid Channel line. The nifty has given a close just below a strong resistance of 18509. 18509 was high of Friday above which the Nifty could not close. One way to avoid this resistance would be to open gap up on Monday. If we open gap up on Monday above 18509 levels, the next resistance will be at 18562, 18601 and 18678. Supports on the lower side will be at 18460, 18389, 18324 (50 Hours EMA) and 18197. Below 18197 Final support will be 200 Hour EMA at 18101. Below 18101 Bears will regain the control. If by chance during the week or later this month or next month we get a closing below 18101 trend can change into negative.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Not sustaining above mid channel support not a good omenNifty Not sustaining above mid channel support not a good omen for the Bull run. Somehow Nifty has to make a comeback in next 2 or maximum 3 days and sustain above Mid channel line which is around 18413 mark. Right now Nifty als faced a trend line resistance which emancipates from previous top. The zone was too hot for Nifty to handle and it leaped back towards the support of 18323. Supports for Nifty Will be at: 18323, 18275, 18206 and finally 18068 to 18040 zone. (Major buffer Support). Below 18K Bears start to loose control. Resistances for Nifty: 18413, 18455, 18525 and finally 18601 (Major Resistance).
NSE:NIFTY
by Happy_Candles_Investment
Bearish divergence explained in NIFTY & BANK NIFTY.DIVERGENCE is when the price of a scrip is moving in opposite direction of an indicator, usually an oscillator. It acts as a warning that the price trend may be getting weaker. It does not necessarily mean that the trend will reverse. It could signal an exhaustion of the current trend, the beginning of a period of consolidation or a medium to long term reversal. _________________________________________________________________________________ Divergences are classified according to their levels of strength. Type A divergences are the strongest, Type B divergences show lesser strength and Type C divergences are the weakest. Type A divergences usually present the best trading opportunities, whereas Type B and Type C mostly lead to choppy price movement or consolidation. _________________________________________________________________________________ TYPE A: Type A bearish divergences occur when price rises to a new high but the oscillator is only able to rise to a high that is lower than the previous high of the oscillator. The divergences of this type often indicate a reversal towards a downtrend. TYPE B: Type B bearish divergences are formed when the price makes two equal highs or a double top and the oscillator makes a lower second top. TYPE C: Type C bearish divergences occur when price rises to a new high but the indicator stops at the same level it reached during the previous rally. _________________________________________________________________________________ Divergences are important signals which can be used to book profits on existing positions or pulling up your trailing stop losses. NIFTY and BANK NIFTY both, are displaying bearish divergences on the daily timeframe. Which type of bearish divergence do you see in NIFTY? Comment below.
NSE:NIFTY
by Tradeception_
Nifty Flowing confidently in the 30 minute channel. Nifty on a 30-minute chart is looking very confident of staying in the upper half of the channel in which it is travelling. On last 3 occasions Nifty has jumped upon reaching the mid channel support of the mid channel line. Indicating that strength of the rally is intact so far. However, on the last 4 occasions when Nifty tried to cross the Channel top it was made to retreat indicating a strong channel top resistance. Nifty Resistances going further will be: 18455 and 18500. Nifty Supports going further will be at: 18384, 18284, 18267 (Very Strong Support).
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty 15May23 to 19May23 ST,MT & LT-Chart Cleaned for VisibilityNifty 15 May 23 to 19 May 23 Short ,Medium and Long Term Nifty closed at 18314 ( 18069) and touched low of 18100. Nifty touched high of 18389. Mainly followed the band resistance provided for last two weeks ( as mentioned below) and 3-4 days the resistance acted as support. Nifty support at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines) RSI ,MACD and Stochastic are at 69%, 210 and 92% KN Election results will play small setback in the indices, might drop to the the support level provided in the coming week in initial trading sessions. However after small consolidation it will again try to attempt to surpass 18465/ 18600 /18900 in the Medium term. Nifty- short term is Neutral to Long. Need to decisively close above 18274 to reach targets ext target at 18437/18465 ( fibonacci resitances) . Nifty support at 18111/18204/18274 Buy on Dip Nifty Medium Term - Nifty need to break decisively above first target 18274 to reach next target of 18437 ( Fibonacci 0.786 Retracement)/ 18640/ followed by prev high 18890. Nifty have multiple support for Medium Term - 17865/17741 ( Previous Highs) and 17560 ( April Low) Below that 17387- 17340/ 17252 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 17208/17180//17000 long term support at 16746 ( Sep22 Low) Long term Investors can accumulate following Mutual Funds NIFTY 50 Equal weight Bank Nifty Nifty IT (Buy on dip)
NSE:NIFTY
by karthikss
Nifty 15 May 23 to 19 May 23 Short ,Medium and Long TermNifty 15 May 23 to 19 May 23 Short ,Medium and Long Term Nifty closed at 18314 ( 18069) and touched low of 18100. Nifty touched high of 18389. Mainly followed the band resistance provided for last two weeks ( as mentioned below) and 3-4 days the resistance acted as support. Nifty support at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines) RSI ,MACD and Stochastic are at 69%, 210 and 92% KN Election results will play small setback in the indices, might drop to the the support level provided in the coming week in initial trading sessions. However after small consolidation it will again try to attempt to surpass 18465/ 18600 /18900 in the Medium term. Nifty- short term is Neutral to Long. Need to decisively close above 18274 to reach targets ext target at 18437/18465 ( fibonacci resitances) . Nifty support at 18111/18204/18274 Buy on Dip Nifty Medium Term - Nifty need to break decisively above first target 18274 to reach next target of 18437 ( Fibonacci 0.786 Retracement)/ 18640/ followed by prev high 18890. Nifty have multiple support for Medium Term - 17865/17741 ( Previous Highs) and 17560 ( April Low) Below that 17387- 17340/ 17252 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 17208/17180//17000 long term support at 16746 ( Sep22 Low) Long term Investors can accumulate following Mutual Funds NIFTY 50 Equal weight Bank Nifty Nifty IT (Buy on dip)
NSE:NIFTY
by karthikss
3
Nifty Short Term Outlook NIFTY is approximately 3% away from the top. Question on minds of most investors is: When will Nifty make a new high by crossing this Crossing this 3% hurdle. Crossing this 3% hurdle will not be easy in my opinion, unless all FII, DII and Retail investors participate in the ongoing rally. Rally has hit the resistance zone now. It was a good week but going ahead Nifty will have to conquer 4 major resistances. These 4 Resistances are at 18393, 18474, 18609 and 18715. In case these resistances are not crossed there are chances of rally to fizzle out with supports at 18185 and 18053. 18053 is a major support. Below 18053 bears will start calling shots. If we get a weekly closing below 18053 the next support zone will be between 17793 and 17529 (Final Major support). Below 17529 bears will be in full control again.
NSE:NIFTY
by Happy_Candles_Investment
Nifty 08 May 23 to 12 May 23 Short ,Medium and Long TermNifty 08 May 23 to 12 May 23 Short ,Medium and Long Term Nifty closed at 18069 ( 18090) and touched low of 18042 Nifty touched high of 1827. Mainly followed the band resistance provided last week ( as mentioned below) due to awaiting of FED decision and followed by drop on last day due to HDFC stocks. Nifty small Resistances at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines) RSI ,MACD and Stochastic are at 62% fall from 75% So far Q4 have mixed results. Nifty- short term is Neutral to Long. Need to decisively close above 18274 to reach targets ext target at 184372/18465 ( fibonacci resitances) . Nifty small Resistances at 18111/18204/18274 Nifty support at 17869/177741 ( Previous Highs) and 17570/17530 (Inclined two trend line) Nifty Medium Term - Nifty need to break decisively above first target 18274 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890. Nifty Support at 17387- 17340/ 17180/17200/17252 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 long term support at 16746 ( Sep22 Low) Long term Investors can accumulate following Mutual Funds NIFTY 50 Equal weight Bank Nifty Nifty IT ( Buy on dip)
NSE:NIFTY
by karthikss
Will Reverse Head & Shoulders Breakout be a success? Market Outlook: Nifty is on a roll and taking all the negative news under it’s wings and rising like a phoenix. The Mother of all bi-monthly economic events FOMC meet and decision on US Federal Reserve rate hike/Pause and US Fed chief Powell’s comments about the future rate decisions awaits to test its resolve. A positive looking Reverse Head & Shoulder like structure is formed on Nifty Chart as you can see below. We will know later this week if the Reverse Head and Shoulder Breakout is successful or not. One thing is for sure that corrections are temporary but Indian economy, it’s strength remains intact. It may take time but Indian Indices do bounce back. Long Term Investors should trust the story of India and continue to invest for long term irrespective of whether the current Breakout or current rally sustains or not. Nifty Supports From Current Level: 18124, 17966, 17888 and 17632. Nifty Resistances from Current Level: 18180, 18252 and 18441.
NSE:NIFTYLong
by Happy_Candles_Investment
2
Nifty 02 May 23 to 5 May 23 Short ,Medium and Long TermNifty 02 May 23 to 5 May 23 Short ,Medium and Long Term Nifty touched a high of 18090 ( 17865) and touched low of 17610 Nifty closed at 18065 (Prev Close 17627). Nifty crossed the key 17867 Resistance last week ( as mentioned in last week analysis) and touched above 18000, which shows a positive sign. RSI ,MACD and Stochastic are above 75% and green zone. Q4 results are being announced and many companies posted good results. As expected Banks and NBFCs are posting good results. Can be bought for Medium term. Nifty Bank already gave good returns ( +7%) in the last 1 month as mentioned in previous reports. Nifty- short term is Long. Nifty small Resistances at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines) Above these resistances next target at 184372/18465 ( fibonacci resitances) Nifty support at 17570/17530 (Inclined two trend line) Nifty Medium Term - Nifty need to break decisively above first target 18274 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890. Nifty Support at 17387- 17340/ 17180/17200/17252 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 long term support at 16746 ( Sep22 Low) Long term Investors can accumulate following Mutual Funds NIFTY 50 Equal weight Bank Nifty Nifty IT ( Buy on dip)
NSE:NIFTYLong
by karthikss
Strength of the rally to be tested next week.After the much awaited break out of Nifty which was playing in the range between 17900 and 16900 it is the time for the strength of the rally to be tested. Nifty has to battle some important resistance next week to sail further upwards. All eyes will also be on FOMC meet of US Federal Reserves on 2nd May 2023. I don't want to sound pessimistic but everyone should note that this event has potential to become a party spoiler. (Looks less likely though as rally has crossed some important resistances but you can never really decouple your economy from what happens globally). Important Supports For The next week: 17973, 17878, 17779 and finally the strong buffer zone of 17473 to 17687. (This buffer zone has multiple supports including 50 Weeks EMA, 50 and 200 days EMA in addition to some other supports). Important Resistances: 18140, 18268, 18397 and 18481.
NSE:NIFTYLong
by Happy_Candles_Investment
WHY NIFTY WENT UPWARDS TODAY, HERE'S WHY - 26/04/23 Nifty took support from the support line tested by previous day support & day before yesterday's strong resistance after the opening of the day and consequently went upwards a lot due to the support line being very strong due to presence of multiple support & resistances on the last 2 days After that it took resistance from a previous day resistance line and consolidated a lot in the second half But the resistance line being weak due to the presence of only one earlier resistance it was breached during the end of the day and nifty went upwards again
NSE:NIFTYLong
by peace_lover
2
Morning Mantra - 25th April 2023Dear All, It was an amazing day yesterday . Wherein, we had observed that after a gap up opening of 17707, Nifty had made a day’s low of 17612 and had thereafter made a sharp recovery from that level. Overall on the hourly chart of Nifty, we can now observe a head & shoulder formation . Wherein, the level of 17800 can be considered as its neckline . Above this level of 17800, we can see Nifty for the level 18134 approx in the near term. Until the time we witness a closing of above 17800, we are still with our words to keep following the Cherry-picking strategy with the stop loss of 17300 , as of now. Besides, the conservative players can go for fresh accumulation only after witnessing a beautiful and a strong closing of above 17800 . Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Nifty 24 Apr 23 to 02 May 23 ST,MT, LT reviewNifty 24 Apr 23 to 2 Mayr 23 Short ,Medium and Long Term Nifty touched a high of 17865 just below the resistance mentioned last week ( 17867) and touched low of 17577 Nifty closed at 17624 (Prev Close 17828). RSI, 66 % and dropped to 55%. MACD is above MACD signal and Stochastic touched 100% and dipped to 75% from last week. Nifty- short term is PNeutral. Nifty small Resistances at 17859 ( Fibonacci 50% retracement)/17867 ( Inclined Trend Line Resistances ) Above these resistances next target at 18000/18100 Nifty support at 17570/17530/17387- 17340 for the week ( Inclined two trend line) Nifty Medium Term - Nifty need to break decisively above first target 18217 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890. Nifty Support at 17180/17200/17252 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 long term support at 16746 ( Sep22 Low) Long term Investors can accumulate following Mutual Funds NIFTY 50 Equal weight Bank Nifty Nifty IT
NSE:NIFTYLong
by karthikss
Nifty at a critical support. 50 and 200 days EMA have been providing a critical support to Nifty all throughout the week. 50 and 200 days EMA stand at 17544 and 17530 respectively. This zone has provided support to the Nifty almost on all days of the week proving that it is the most critical support. If this support is broken Next support for Nifty will be only at 17406 and further down at 17204 levels. However if Nifty is assured of its support the chances are that it can rise from here. The resistances that it can meet on the way up are near 17805, 17869, 18092 and 18261 levels.
NSE:NIFTYLong
by Happy_Candles_Investment