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Niftyindia

Panic selling on Friday but Nifty closed above critical support.Market Outlook For The Next Week: It was a volatile week which saw ups and downs. Downs mainly due to huge sell off in HDFC Twins due to the rebalancing news of MSCI Index. The fall also cooled down RSI which has come down substantially. Closing of Nifty well above critical support level of 18029 shows that strength still might be left in NIFTY to rally again a bit further next week. Support and Resistance levels for Nifty for Next week are under. Nifty Support Levels: 18055, 18029, 17936 and finally 17843. Nifty Resistance levels: 18172, 18216, 18268 and finally 18425.
NSE:NIFTYLong
by Happy_Candles_Investment
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
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
Nifty 50 index: is this breakout sustainable?Greetings Fellow Traders, As we can see in this chart that Nifty was trading inside the Chanel down from past few days and since yesterday price broke that Chanel down and bounced on it few times...but will this be a sustainable breakout for further upside move? Well in my opinion that will be dependent on 17,950 As a resistance it's more prominent than that Chanel down...and for any sustainable upside move price needs to break that area... otherwise downside areas are mentioned in Chart... Good Luck 🍀
NSE:NIFTYShort
by AdilHussain731333
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
Nifty with positive bias poised just below 50 Hours EMA. With the result from Big Daddy of Index Reliance tomorrow Nifty is again staring at the cross roads but with a positive bias. Reliance has a weightage of 10.54% in the index and a good result can make the day or week for the Nifty or break it. Nifty is poised just below 50 hours EMA which is 17630 so the line will act as a resistance. If we get a gap up opening above it and the gap sustains it will be a perfect scenario for the rally to go forward. Resistances at 17630, 17691 and 17772. Supports for Nifty are at 17593 and 17578. Below this level Nifty can fall to 17488 levels. (This should be a major support). If this is broken the current rally may fizzle out.
NSE:NIFTYLong
by Happy_Candles_Investment
Channel Breakout of the trend is being tested. Recently Nifty on 10th April gave a channel Breakout. Since the negative channel upper limit was respected in last 4 months or so this breakout was a major first step towards up trend. Since it was a major breakout Nifty is trying to look back and test it's support zone before it can fly ahead. Major supports zones from where Nifty can re start the up trend again are: Support Zone 1: 17618 (current level) to 17528. Support Zone 2: 17424 to 17267. (A close below 17267 will make this current Channel Break out that Nifty saw on 10th April 2023 a failure). Resistance Zone 1: 17690 to 17856. Resistance Zone 2: 17856 to 18004.
NSE:NIFTYLong
by Happy_Candles_Investment
A major support zone got activated today. Market today saw tremendous selling in IT sector, Services and consumer goods. The market however saw a good recovery of about 132 points from bottom on the back of purchase in PSU, FMCG, Auto and some realty counters. Below the zone from where Nifty bounced today, that is 17574 which is near 50 hours EMA we will have supports near 17454 which is 200 hours EMA as well as mid channel support which is at the same level. The zone between 17529 and 17526 is again a major support as this zone has 50 and 200 days EMA. On the upper side we might face resistance near 17738 and 17782. The zone between 17847 and 17923 is a very strong resistance zone. We can have a range bound week or weeks unless there is some strong news or result which can either pull the index above 17923 or drag it below 17454 levels.
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY GOING UP to 19000 BUCKLE UP FOR THE RIDE!!! Price has started making Higher Highs which denotes an Uptrend, currently Price is giving a correction in the downward direction which again sigifies the Impulse Wave is in Uptrend and hence Uptrend is confirm. Price has this Fresh Demand formed in The Daily chart which synchronises with the Weekly Demand as well, hence this is a Trade Zone in Daily with a minumum Risk 1 against the Reward of 13 makes this a favourable Reward to Risk ratio Trade, The Target is derived as per the Fibonacci Extension considering the Wave 3 @ 1.618 Level which is Price 18948.15. Cheers !!! Enjoy the Ride!!!
NSE:NIFTYLong
by WavesandZones
Spot Nifty At A Critical Juncture.Market Outlook The Nifty is poised at a cross road and a critical resistance. Either it can defy the resistance and continue rising further or it can consolidate a bit in the range of 100/ 200 points on either side and consolidate it’s position. Nifty consolidating first and then rallying further will be more logical but Stock market is not the place which obeys reasoning and logic most of the times. Either it becomes too worried or it becomes too fearless and greedy. We investors try to find equilibrium and rationale in the place which often defies laws of consistency in the short term. In the long term everything works fine and falls in a deserving place. Spot Nifty Resistance Zones: 17851, 18004, 18126 and 18267. Spot Nifty Support Zones: 17780, 17713, 17532(Strong Short Term Support), 17311(Final Short Term Support).
NSE:NIFTYLong
by Happy_Candles_Investment
Cup and Handle Formation in Nifty in Progress in the long run.Nifty Outlook: Nifty Looks good for a long haul in the long run. In the short term though Nifty seems a little bit of consolidation before it heads further. RSI on hourly chart shown a need of little bit of strength through consolidation. Which means we may see little bit sluggish end of the week tomorrow as Nifty is already in the resistance zone. This zone might not allow Nifty to escape the clutches easily. But if Nifty does escape this medium term resistance, It can fly ahead with even more power. Medium Term Resistance zone: 17857 to 18100. Long Term Resistances: Long Term resistances for Nifty lies at 18446 and 18887. Medium term Supports: 17614 and 17314. Long Term Supports: 16828 and 16520. Long Term Targets for Nifty which it can reach within This year or by Second quarter of 2024 seems to be 19447 or on the upper side 20160. .
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Facing Key Resistance Zone of 17700 to 17797 Nifty has reached the zone where the strength of current rally will be tested. The zone between 17700 and 17797 will be strong resistance zones for Nifty. Only if the rally has genuine strength it can cross this zone. If this resistance zone is crossed the next resistances will be at 17923, 18038 and 18137. Supports for Nifty remain at the levels of 17597, 17533, 17460. The strongest supports for the current rally will be and 17414 and 17363 which are 50 and 200 hours EMA. Below 17363 bears will snatch back the control of the market.
NSE:NIFTY
by Happy_Candles_Investment
How much more Fizz left in the rally? The main question that is springing in every mind is that how much more Fizz is left in the rally? Is it a genuine back to bull market rally or should we consider it a relief rally only? We will know only if the critical resistance are crossed in the coming week/weeks. Nifty Critical Resistances: 17639, 17720, 17804 (Major Resistance) ,18066, 18136, 18207 and finally 18292 (Major Resistance) . Nifty Critical Support Zones: 17515, 17482, 17402, 17309 and finally 17210.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty nearing a major resistance zoneNifty has come at the doorstep of Major resistance zone. This is the region between 17586 and 17812. This Zone is full of small and big resistances for Nifty. Momentum of Nifty is good but it will take some major effort in crossing this most important zone. In case this zone is crossed this week or later next week, the next resistance are near 17977 and 18125. Supports for Nifty are near 17514, 17478, 17417 and 17310. It is a critical day tomorrow as Friday we have very rare Second holiday of the week.
NSE:NIFTY
by Happy_Candles_Investment
1
Market Outlook for 3rd to 7th April 2023. After consolidating for about 2 weeks Nifty Finally had a shackle breaking close to the week and month in the last couple of days where momentum totally changed and both FIIs and DIIs turned buyers simultaneously. While the closing of Nifty is good, a major resistance zone of 50 and 200 days EMA between 17478 and 17515 is there to be crossed. If this zone is crossed there will be another major resistance near 17618 which will be tough to cross. If we are able to cross 17618 Nifty will face a trend line channel top resistance near 17817. Bulls can be in full control only after these zones are crossed. Supports on the lower side now remain at 17300, 17204 and 17080. Let us hope that bulls can carry the momentum through to the next month and next financial year.
NSE:NIFTYLong
by Happy_Candles_Investment
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