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Niftyindia

First Signals of Bull Rally cooling down.The 1.17% negative fall in stock market today courtesy weak guidance for 2024 by Infosys set the cat amongst the pigeons and profit booking in major sectoral indices lead by IT started. Capital goods and PSUs index were trying to provide some support and respite to the Nifty. On weekly chart the zone between 18887 and 50 weeks EMA which is at 18000 looks like major support zone. Before Nifty reaches this zone there will also be supports at 19565 and 19117. In the worst case scenario of some major bad news 16856 and 200 Weeks EMA of Nifty which is near 15566 can also provide major support. (Highly unlikely Nifty reaches there but you never know). Resistance on the upper side for Nifty remain at 19747 and 19991. Long term target for Nifty is first 20002 and then 21035.
NSE:NIFTY
by Happy_Candles_Investment
2
Nifty missed our Target of 20002 by about 10 points. Nifty just missed our Target of 20002 by just about 10 points. RSI is indicating that the Nifty has entered the overbought zone and a small or medium sized correction is due. however the fibonacci levels applied to Nifty Indicate a medium term target of Nifty near 20126. To reach there Nifty has to cross the major hurdle at 20002. Incase Nifty respects the Overbought Zone RSI correction theory a little bit of Correction might be due with a support at 19800, 19724, 19418 being a major Fibonacci support and below that 19321 is the main support. 50 days EMA of Nifty is too deep at 18861 below which the trend will change into a negative one.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Trying to break channel it was flowing in since 3 monthsNifty since Mid April 23 has been smoothly flowing in the drawn hourly channel. Now it has taken steps today to break this channel. Breaking an hourly channel of Three months is a very tough challenge. Relative strength index is also approaching near it's sell zone. Perhaps little bit of more effort can take Nifty towards 19800, 19900 or perhaps magic figure of 20K. For reaching 19800 or even 20000 levels Nifty has to sustain above 19700 levels in this coming week. Supports on the lower side for Nifty are near 19575, 19481 and 19316.
NSE:NIFTYLong
by Happy_Candles_Investment
NSE NIFTY hits all-time high I am thrilled to inform you that the NSE Nifty has achieved a remarkable milestone. It hit a new all-time closing high on Friday, driven by heavy buying in IT counters and fresh foreign fund inflows. Isn't that fantastic? The market is buzzing with positivity and optimism, and there couldn't be a better time to consider taking a long position on the NSE Nifty. With the IT sector showing strong growth and foreign funds pouring in, the Nifty has been on an upward trajectory. This presents an incredible opportunity for traders like you to capitalize on this momentum and potentially reap significant rewards. By going long on the NSE Nifty, you stand a chance to benefit from the continued bullish sentiment and its positive impact on your portfolio. So, why wait? Seize this moment and consider taking a long position on the NSE Nifty. With the market's current upbeat tone, it's an ideal time to ride the wave of success and potentially maximize your profits. Don't let this opportunity slip away - take action now and position yourself for success.
NSE:NIFTYLong
by bryandowningqln
Channel Top Resistance Approaching For NiftyNifty has yet again reached the region from where channel top is near by. Channel top resistance can be in the range of today's peak that is 19595 to somewhere in the range of 19661. Supports for Nifty in case of fall will remain near 19464, 19422 (50 Hours EMA), 19360 (Mid-channel support), 19233 and final major support is near 19133. Closing below 19037 and channel bottom around 19000 will awaken the bares and will have potential to change the trend.
NSE:NIFTY
by Happy_Candles_Investment
Higher High, Higher Low Pattern in Nifty. 50 Hours EMA is supporHigher High, Higher Low Pattern in Nifty. As soon as a new high is made lot of Profit booking is taking place due to which Spot-Nifty tends to come down but 50 Hours EMA is supporting the higher high, higher low pattern. If 50 Hours EMA is broken we may see some un-widing. If we see unwinding in Nifty the supports that will be activated will be 19393 (50 hours EMA), 19296 with mid channel support near by, 19233, 19133 and finally 19003. Below 19003 bears will be activated. Resistances on the upper side are 19477, 19514 and finally 19567.
NSE:NIFTY
by Happy_Candles_Investment
1
Resistance of ATH Zone works again today and stops Nifty.Resistance of ATH Zone works again today and stops Nifty. As expected the resistance zone between 19437 and 19523 again got activated. Nifty made a high of 19515.1 and returned closing the day at 19439.4. End was just above 19437 which should act as a support no.1 for tomorrow. Further supports will be at 19419, 19399, 19337, 19296 and 19232. Again 19500 to 19523 will act as resistance zone. Crossing and closing above 19525 will open the doors for 19600 or even 19700. All eyes on the Speech of FOMC member Bullard tonight.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Delicately placed between support and resistance zones. There are three major supports for Nifty on hourly channel near the current level. The supports being at 19354, 19295 and 19232. Falling below 19232 will take spot Nifty to the levels of 19065 or 18894. Below 18894 Nifty becomes very week and final major support for Bulls will be at 18651. Resistance for Nifty will be near the levels of 19437 and 19523. Crossing and closing above this zone is difficult but if Nifty closes above 19523 channel top resistance will be in the zone of 19590 to 19610.
NSE:NIFTYLong
by Happy_Candles_Investment
2
Supports and Resistances for Nifty from current levels.Hourly chart of Nifty suggests support for Nifty in the zone of 19268 and 19232. If 19232 is broken the next support will be near 19065. Below 19065 Nifty is vulnerable and can fall to the levels of 18859 or 18651. Below 18651 bears will awaken from Coma they are in currently. Trend changes to negative below 18651 closing. Resistance on the upper side for Nifty are near 19411. 19506 to 19551 will be a major resistance for Nifty as that is the top of current channel.
NSE:NIFTY
by Happy_Candles_Investment
Very Important Fibonacci resistance level approaching in Nifty.Very Important Fibonacci resistance level 19448 approaching in Nifty. If Nifty can sustain above it above 19450 the doors will open for next Fibonacci level of 20162. I dare say Nifty needs some consolidation and RSI needs some cooling down before the next big leap. RSI is right now 74.85 and as soon as it touches 80, Nifty will enter Overbought zone if already it is not overbought. Investors should take care of their trailing stop losses. Take care of their profits by putting proper trailing stop losses/ stop losses. If Nifty jumps the resistance and sustains 19450 well and good but if not there should not be loss. Loss in profit is ok if a trailing stop loss is hit but important thing is profit should not become loss in case of correction.
NSE:NIFTY
by Happy_Candles_Investment
1
The hourly Channel broken on the upper side. What Next?The hourly channel that we were following since last 2 months or more has been broken on the upper side due to the ongoing mad bull run. The question that comes to various minds is what next for Nifty or where next for Nifty. To answer that we go back to the daily chart and apply simple fibonacci levels. Fibonacci levels on daily charts suggest the following supports and resistances: Next Fibonacci Resistance at: 19448 followed by 20162 (Both have potential to be Major resistances with many minor resistances in between). Fibonacci Supports: 18887.6 (previous Peak), 18446 (Major Fibonacci support and 50 days EMA very close to it), 17856 (Another Mega Fibonacci support with 200 days EMA very close by).
NSE:NIFTYLong
by Happy_Candles_Investment
2
Momentum with Nifty, but it is approaching over-bought zone.Momentum is with Nifty, but it has reached or will soon reach the Zone which might be very close to the overbought zone. Relative Strength Index cooldown / consolidation might also be required for Nifty to scale further highs. If not tomorrow then later next week. RSI will do some catching up and Profit booking at higher levels like we saw towards the end of Wednesday can also surprise. Beware of the Bull trap in some shares with weak fundamentals which might also rise as if they are genuine dark horses. 19000-19020 is the resistance zone now. Top of the channel for current let of the rally can be 19080 to 19200 range. Support for Nifty is near 18945, 18887.6, 18839 and 18796. Bear right now are on Oxygen. Some signs of life can return only if Nifty closes below 18602. Till that time Bulls will be in firm control.
NSE:NIFTYLong
by Happy_Candles_Investment
3
Our Chart continues to work perfectlyAs you can see and we had depicted yesterday Nifty had taken a firm support at 18646 and the only now was upwards. Despite negative to Neutral US markets Nifty opened gap up above what was 50 Hours EMA, confirmed support of the EMA at 18742 for few hours and then marched ahead. The march of Nifty was halted by the Mid-Channel Line resistance at 18829 and that is where Nifty cooled down a bit to close the day at 18817.4. How is that for Precision? I hope you all are appreciating the efforts that we are putting in the analysis. What Nifty holds for tomorrow? If Mid channel line (18829) is conquered tomorrow and Nifty hold above it, we will be sooner than later looking towards re-approaching the All Time high of Nifty and probably this time around Nifty might even break it and make a new high. Resistances: 18829, 18840 and 18887.6. Post making a new high 18956 and 19018 can be very very tough resistances. Supports: If the Nifty is not able to conquer 18829 to 18840 range and sustain above it the supports will be at 18795, 18742, 18646, 18576 and 18421.
NSE:NIFTYLong
by Happy_Candles_Investment
18646 giving a great support can the rally re-launch from here?18646 giving a great support can the rally re-launch from here is the question now. Usually when index or the stock finds a proper support and investors feels confident about the support, there is a possibility of restart or re-launch of the rally from that region. Whether rally will be successful like the previous phase will remain the question. However if the rally re-starts the next resistance will be near 50 Hours EMa that is 18733. Crossing 18733 the most important ATH resistance zone of 18795 to 18887.6 awaits Nifty. Supports at the lower side remain at 18646, 18562 and finally the bears wake up if 18421 is broken.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Dives below 50 hours EMA After Failing to Conquer ATH. Nifty Nose-Dived below 50 hours EMA After Failing to Conquer All Time High which was within the touching distance. The factors responsible for the fall can be attributed to Hawkish stance of FED before July FOMC. Hawkish stance of global Central banks and Profit booking near all time high. Relative Strength Index of Nifty (RSI) also needed some cooling down. 50 Hours EMA is working as an important resistance now and today low of 18647 will be important support for Monday. If the support at 18647 is broken Nifty can languish upto bottom of current channel and 200 Hours EMA which is near 18554. If Nifty closes below 18554 final support for Bulls is near 18421 closing below which bears will spring back to life.
NSE:NIFTY
by Happy_Candles_Investment
2
The Zone around ATH is proving to be a tough resistance. The Zone around 18862 and ATH of 18887.6 is proving to be a tough resistance to conquer. Nifty has so far made multiple attempts but has not been successful so far this week after coming in the touching distance couple of times. Once ATH resistance is crossed the next resistance will be near 18953 and 19018. But before we get there Nifty might again take a dip in search of a proper launchpad for that leap of faith. Global markets are expecting a hike by FED again in July FOMC as the action was PAUSE but commentary was hawkish. If that remains the case little bit of correction can also happen in Nifty. In such a scenario the supports this week will be 18827, 18790, 18756 and 18660. Below 18524 bear will try to snatch back control. Possibility of that happening is difficult this week. But we never really know.
NSE:NIFTY
by Happy_Candles_Investment
The Question is When will Nifty Hit the All Time High? Nifty staged dramatic recovery in the afternoon today and covered shorts shocking the bears who were thinking of staging a comeback. Nifty hourly candle took support at 18660 and staged a mighty comeback of about 156 points to end the day at 18816 which is just below the resistance zone of 18842 and 18865. Final resistance will be 18887.6 which the the all time high of Nifty. Supports for Nifty are near 18790, 18752 and a strong support of 18726 followed by supports at 18660 and 18500. So the answer to the question The Question is 'When will Nifty Hit the All Time High?' is very soon. It can be later this week it can be tomorrow.
NSE:NIFTYLong
by Happy_Candles_Investment
2
Again invariably Mid-Channel line comes to rescue. Again invariably Mid-Channel line comes to rescue as the NIFTY failed to make new All Time High today after coming very very close to the top. When you are near the top or while bottom is forming volatility will be at it's peak as near the top there will be profit booking and near the bottom there will be loss boking. Spot Nifty Supports and resistances are as under: Nifty supports: 18717, 18637, 18555 and finally 18482. Below 18482 Bears will come out of coma and will try to regain control. Nifty Resistances: 18784, 18826, 18865 and finally 18887.6 (Previous Top). Top of the current channel can be between: 18887.6 and 19020.
NSE:NIFTYLong
by Happy_Candles_Investment