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@Jagadheesh_Jk
Niftyindia
Critical Final Support Zone For Nifty has arrived. Critical Support Zone For Nifty has arrived. This support zone is between the low of today that is 19412 and 19299.This zone has potential to support Nifty and empower it to cross 200 and 50 hours EMA which are at 19470 and 19538 respectively. Bullish sentiment can return only after closing above 19538. Crossing 19538 the next resistance for Nifty can be near 19597 and 19645. Closing above 19645 will then give psychological edge to the Bulls who will try to pull Nifty above 19800 and eventually 20K+. Closing below 19299 can change the trend in favour of Bears.
50EMA (Mumma Support again pulls back the child like a magnet.) 50 EMA (Mumma Support again pulls back the child like a magnet.) Nifty which tried to break the shackles of 50 EMA is again under the same and now the full zone between 19566 to 19684 is full of resistances. Nifty will be bullish only after it closes above 19684. Till then there will be stock specific action based on results. Supports on the lower side are at 19528 and 19471. Other major support of 19471 is broken will be 19423. Below 19423 Nifty becomes very weak and Bears will be calling the shots totally.
Nifty Respected our Mother Father Small Child Theory. Nifty on a third attempt today broke the Parallel chanel top and closed comfortably above 50 hours EMA (19568)(Mamma Line). If Nifty sustains above 19568 tomorrow it will turn positive again. In such a scenario the next resistances will be at 19645 and 19684. Crossing and closing above 19684 will open the possibility of Nifty 19798 and 19850+. Supports for Nifty on the lower side are at 19528, 19465 (Pappa Line) and 19423.
Look at the chart and think about our Mother, Father and Small Child theory which says. The small child (Candle sticks) run around like a small child set free in a garden or a play ground. Keeps coming back to Mother line (50 EMA again and again). In case of making new highs or difficult circumstances it comes to meet Pappa line (200 EMA). In case they give 'ashirvaad' or permission to fly it runs away from them with freedom. In case they dont give permission the helpless child will remain below their shadow. Mummy and Papa are strongest supports and strongest resistance for the small child. (small child being the candle sticks, 50 EMA being soft Mamma Line and 200 EMA being Strong Pappa line.
Now again look at the chart. There was a gap down on 2nd August...Mother brought the child under her shadow and told her husband..."The child is becoming very naughty please take care of him for a while...". Pappa has to oblige.
Only 4th August the child was set free by Pappa line after the child pleaded for Freedom but Mamma line this time very disturbed did not allow freedom to the child till 7th August. Again on 8th August Mamma caught hold of the child and gave possession back to Pappa. Today morning Papa again told the child (supported him but also scolded "don't be too mischievous go and play" so the child from then on was set free..). Papa also instructed the mother..."Let the child play". This time in late after noon Mamma has obliged and the child is set free to play again. If the child behaves properly this time and stays above Mamma line...It will fly/run further...
Nifty Not able to break Channel top smells Weakness.Another attempt by Nifty today to break the channel top was unsuccessful. Nifty made a high of 19634 which was channel top and from there we saw pressure build and resistance work. The resistance pushed Nifty downwards and the support of 19533 was activated and it worked well. Nifty staged mini recovery from that level and closed the day at 19570, which is just below 50 hours EMA. Unable to conquer the channel top and ending below critical resistance has activated Bears and they will try again to push nifty down. 19533 to 19520 and then 19459 to 19423 can again be support zones for Nifty as of now. A closing below 19423 will empower the Bears more and they can further drag Nifty towards it's final support of 19296.
Nifty has closed near very critical resistance zone. Nifty on hourly chart has closed near very critical and strong resistance zone formed due to a parallel chanell in which it is falling since it made a new high of 19991.85. The resistance zone starts from today's high of 19620 and ends at 19685. Closing above 19685 is imperative for Nifty to go towards 19798, 19871 and finally then it can aim for the target of 20000+. Supports for the Nifty on the lower side will be at 19258 and 19423. closing below 19423 will bring back bears in action. Final support for Nifty is near 19296. Below 19296 closing Bears will start dominating. Below 19191 closing will be a trend change and Bears can take full control.
Very interestingly placed Nifty respecting a critical support. Very interestingly placed Nifty respecting a critical support of 19296. The zone between 19296 and 19174 is a good strong support zone for Nifty. If this zone will be broken the Nifty can open floodgate for bears and take the index towards 18883, 18440 or 18268 in the worst case scenario. However the strength shown on Friday should be seen as buoyancy of Indian markets which will attempt to take Nifty upwards. In such a case the next resistances will be near 19530, 19677, 19871, recent high of 19991.85 and finally towards new high and channel top near 20234. First 2 days of the week will decide the mood of reminder of the week or perhaps the full month.
Absolutely critical support levels for Nifty in range. Nifty will have three supports in range which will be like last refuge for bears. One is the low of today which already gave support in the closing hours to Nifty. i.e. 19292. Belos 19292 we have the support zone between 19202 and 19239 hopefully Nifty will bounce from this zone. If not...bears will start coming into action with a lot of energy. Lot of resistances for Nifty on the upper side. Prime Resistance being 19408 to 19438 zone. above 19438 the zone til 19604 will see a tough fight between bulls and bears. Above 19608 bull will again take control of the market.
Major Correction in Nifty due to Global factors. Nifty today closed 1.05% in the negative due to major global news of US downgrade. Lot of Euphoria was also there and many stocks were seething in the overbought zone so the correction was due. Major supports now for Nifty can be near 19440 and 19315. If 19315 will be broken bears will get more empowered and next support zone will be in the range of 19239 and 19202. Resistance on the upper side will be near 19557 and 19666. Mostly it looks like Nifty will test further supports only rather than resistances this week but you never know.
Another Grand day for NiftyNifty Seems to be defying gravity and seems determined to create yet another high given it is able to clear the resistances ahead. The resistances being 19767, 19837, 19912 and 19991. If these levels are crossed the New Nifty high can be near 20100 or 20242. Supports that Nifty has as of now are 19701, 19577 and 19411. Below 19411 the only major support now remains at 19315. Below 19315 bears will wake up from coma.
Nifty near an important support. Nifty is near an important zone which can potentially give it support and help it to re-launch the rally. If this zone between 19626 and 19599 is broken next important support will be at 19223 which is a major trend-line support. Welow it we will have 50 days EMA at 19085. The Bull stay in control till we dont get a weekly closing below 19085. 19085 to 18201 is a fierce battle zone of bulls and bears. Bears take control below 18201.Right now we are not looking at that conflict till the Nifty stays above 19021. Resistances for Nifty on the upper side are near 19792, 19991 and 20116.
Negative Closing and a bearish engulfing on daily chart. Negative Closing and a bearish engulfing on daily chart. Also in the hourly parallel channel 50 hours EMA is broken. In addition to this mid-channel support is also broken. This smell of weakness in the bull rally and perhaps a second signal of bear waking up from their comma. From the data available weekly closing below 19298 can change the trend of Bull rally and totally awaken the bears. Till we are above 19298 we can consider this fall as correction and consolidation within the Bull Rally.
Nifty Supports: 19641, 9578, 19507, 19373. and 19298.
Nifty Resistance: 19743, 19823, 19874 and 19939.
19750 and 50 Hours EMA at 19723 major supports for Nifty. 19750 and 50 Hours EMA at 19723 major supports for Nifty. Below these 2 levels the support for Nifty will be near 19621 and 19516. Nifty becomes vulnerable and bears can tighten their grip below 19516. Below 19516 only 19347 is the major support (200 Hours EMA). Trend can change to bearish below this level.
Resistance on the upper side for Nifty will be near 19827 and 19890. If these resistance are crossed Nifty will once again look at aiming towards 20K mark if it able to conquer final 2 resistances at 19939 and previous high of 19991.85.
Mid-Channel Support and 50 EMA on Hourly Parallel channel BrokenMid-Channel support and 50 hours EMA on Hourly Parallel channel is Broken and now the next support for Nifty is only near 19633. Other supports for Nifty are near 19572 and 19516. 200 EMA which will be like major support for the existing rally is near 19289. Below 19289 the Rally may fizzle out and bears will strive to take control. Resistances on the upper side will be the zone between 19708 to 19761 (Major resistance zone now as it will have several resistances including 50 hours EMA and Mid channel Resistance). Crossing this zone is difficult but if Nifty does cross it next resistances will be near 19827, 19890 and finally 19939.
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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.
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.
20K can be breached if 2 more resistances taken down.20K can be breached if 2 more resistances zones can be taken down.
Resistance zone 1: Today's peak of 19851 and 19871.
Resistance Zone 2: 19925 to 19950.
Supports on the lower side remain at 19724, 19525 and finally 19321.
Trend becomes totally negative below: 18887 closing.
Sustaining 19700 levels crucial for Nifty to lunge forward. Sustaining 19700 levels crucial for Nifty to lunge forward towards 19800, 19900 and finally 20K. Resistances on the upper side now seem to be only at today's peak that is 19819, 19871 and 19950. Supports on the lower side remain at today's low that is 19690, 19525 and 19321 Nifty can fall to 18887 levels. Trend change is possible only after weekly closing below this level.
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 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.
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.
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.
