Niftyindia
NIFTY 50 - Sell on RiseThis week started with a gap down opening at 17541 vs Friday close at 17604.
Made low at 17405, though did not sustain at lows, moved up and closed near the day's high at 17648.
The previous support that nifty broke on Friday is going to act as immediate resistance
Currently, nifty50 looks like sell on the rise
Notice price action in the resistance zone and any weak price action would be an opportunity to create short trades.
Trade at your own risk
Nifty Next Week. Will it turnaround or tank further? Nifty has broken all but final support in the run up to the Budget Week following the report by an FII firm against Adani group which holds shorts for the same. Although loan books of Private banks and many PSU banks has nothing to do or negligible involvement in the group, the full Bank Nifty has tanked due to a knee jerk reaction by the investors.
Although there is nothing new in the report that investors did not know. When investors react in a panic mode at times the stocks having good and great valuation also get beaten along with the High valuation stocks. That is the nature of stock market. It is a spell which at times transfers money from the impatient to the patient. At the same time one should not be fool hardy and inflict pain upon oneself by holding on to the burning coal. The philosophy is intended and most of you will understand what I mean here.
17550 and 17457 are the key supports if broken we might be looking at 17341, 17103 or even 16746 levels. On the upper side in case of a turnaround and good budget the resistances will be near 17762, 17841, 17880 and 17978 before we can hit 18K levels again.
Nifty Daily - Wave Count updateNifty wave count update
As soon as the channel was broken, it seemed that wave 4 had started. But when it went out of bounds and started going down again without starting wave 5, the picture became clear that this was not an impulsive wave. It did not follow the essential rules of Wave 4. ABCDE this triangle is being formed. The trend line has been drawn to confirm the completion of the triangle pattern. The subsequent impulse wave is expected to form a new top.
Market Outlook: Perfect Doji of indecisiveness.Nifty again feeling trapped within the support and resistance zones of 17850 and 18200. Nifty tried but was not able to break free. Good news was that major support levels did not break. At global level the investors emotions are also hovering between global recession and soft landing of US economy. There is a hope of US Federal Reserve loosening the Hawkish stance but there is a fear of Bank of Japan becoming more Hawkish. It is a perfect ‘Doji’ on weekly chart again this week, indicating indecisiveness, hope and fear. Reflection of Global mood can also be seen in NIFTY. Hopefully Nifty can break on the positive side this week as there is not much space for indecisiveness left in the squeezing triangle created in the chart.
Support Levels: 17854, 17767 and 17386.
Resistance Levels: 18136, 18187 and 18279.
Expiry day trade setupHello Traders----As expected in yesterday's analysis index crossed 1st resistance and closed near 18170. next hurdle of the index is at 1250. If we see a negative price action then price may approach toward 18050 and till we are above 18k its a buy on dips. once we fail to hold 18k then we may see the levels of 17900 & 17800 as well. keep the levels in watch and trade safe.
Have a great weekly expiry.
NIFTY50 FOR TOMORROW(17/01/2023)Hello ji,
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Today nifty50 makes lower low pattern .
that not good sing for Indian market.
Here support and Resistance levels drown.
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#Nifty50 Wave Analysis Nifty EV view suggesting small bullish momentum in this time in chart
@17800 a very good support i didn't think the market would break that easily,,,,,,,,,,
And charts and sentiments are also showing bullish
Wave B nearing end,,, my analysis says this time nifty will be ready to touch 18500 level
Wave C ????????????
NIFTY : Consolidating NIFTY is consolidating since we close our last analysis. Still I am observing chart but not finding any good entry point except buy near support & sell near resistance
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
First Learn and then remove "L" with small SL.
NIFTY FOR TOMORROW(10/01/2023)💚💚Hello ji,💚💚💚
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Today NIFTY fully bears and i make a small profit.
And i hope you should also make a profit.
here in 15mins candle NIFTY small W PATTEN form ,
and a big reverse head and shoulder from.
Maybe market bullish for tomorrow..
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