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Niftyindia

BATAINDIA swing long idea The fundamentals and market share of the company are good. Recently NSE:BATAINDIA has been mentioned in various newsletters and news channels, which indicates possibly a big player is going to have a block sell soon. After the recent rally and follow-up retracements, if the share does not fall below 1416 - With sustained volumes and RSI values. We can go long on BATA for a minimum 20% upside. If levels of 1384 break, one can directly buy At the Money PUT for BATAINDIA and have at least a 10% upside there. *Educational view*
NSE:BATAINDIALong
by LokeshSurana
Gap generated on 5th August Finally Filled today. Gap generated due to gap down opening of 5th August is finally filled today. It is not necessary that all gaps either on the way up or on the way down are filled every time. As there are different type of gaps and different timings of gaps / intervals etc there are many factors which create loop holes in the gap theory. We will discuss that some other time. Gap Theory is a subject in itself. The supports for Nifty now are at 24517, 24324 and finally 24088. Resistances for Nifty in the short to medium term are at 24736, 24857, 24950 and 25080.
NSE:NIFTYLong
by Happy_Candles_Investment
Mother line yet again supports and zone 24340 to 24382 resists.Mother line yet again comes to rescue of Nifty after the zone between 24340 and 24382 stops the growth of Nifty yet again. Once this zone is crossed only then Bulls can breath easily. Trend line resistance has also come into effect with absolutely no room for Nifty to go. So there should be a breakout in Nifty in either direction tomorrow. Shadows of the candles are green and positive due to the mother line support at 23983. So hopefully the breakout should be on the positive side. Resistance levels 24340, 24382, 24584 and 24714. The supports on the lower side are 24075, 23983 and 23673.
NSE:NIFTYLong
by Happy_Candles_Investment
Good bounce back by Nifty after Mother Line confirms support. Good bounce back by Nifty after Mother Line confirms support. But we are still not out of the woods as there is a resistance zone near high of the today that is 24337 and 24382. (This is the resistance created by the gap down opening on 5th August. The starting and ending point of Such massive gaps always acts as a resistance zone while going up. The best way to cross this resistance will be a gap up opening. 24483 is another point which was the starting of this gap which will also act as a resistance on the way up. Once that is crossed we can look forward to reaching the next resistance levels of 24584 and 24714. Supports on the lower side for Nifty are at 24183, 24075 and 23978 (Mother Line 50 day's EMA). Below this level only two supports remaining will be 23912 and 23673. We can again be in this unlikely zone as of now only if there is some major bad news overnight otherwise shadow of the candles is looking positive. The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Mother Line comes to rescue for the Nifty today but can it hold?Mother Line or the 50 days EMA comes to rescue for the Nifty today but can it hold? It looks little difficult due to the global Bear onslaught. In such situations we know from the Father, Mother and the small Child story that mostly Father line of 200 days EMA can provide proper support. However before we reach there and not necessarily we reach there as there are some important supports for Nifty. The other supports for Nifty from where it can potentially make a turnaround seem to be at: 23963 (Mother Line provides support again / Support confirmation), 23673 is the mid channel support, 22788 to 22641 is also a good support zone. Below 22641 we have Father line support at 22242. Final support for Nifty is 21879. Resistances on the upper side are now at 24214, 24342 and 24714. Shadow of the candles are still dark red. To know more about the father, mother and small child story read my book The Happy Candles Way to wealth creation available on Amazon in Paperback and E-book version. The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty again tried to conquer 25K but unsuccessful Nifty again today tried to conquer 25K but fell short and reversed from 24971. Twice unable to conquer 25K has formed a temporary Double top type structure indicating weakness not massive but just a little bit. Weakness can creep in if the 24833 and 24773 are broken. Resistances on the upper side remain at 24887, 24957, 24999 and 25037. If 24773 is broken Nifty becomes meaker and then the supports remain at 24676 (Mother Line or 50 EMA Support). 24599 will be the mid channel support. Below 24599 the major supports will be at 24496, 24375 and 24234 (200 EMA support or Father line support.) Below 24234 Bears will totally try to dominate the proceeding.
NSE:NIFTY
by Happy_Candles_Investment
50 Hours EMA (Mother line) and Trend line resistance in playAs discussed in yesterday's video Mother line at 50 hours EMA and Trend line resistance stopping the march of Nifty again. Nifty again nose dived today to confirm support which it found at 25307. After finding the support Nifty recovered again today smartly to close at 24413. Mother line at 24481 and trend line resistance in the range of 24500/24525 range again acted and forced nifty downwards. These resistances are not easy to cross as described yesterday. (To know more about Mother, Father and the small child story (Represented by 50 EMA, 200 EMA and Candle sticks respectively. You need to read my book The Happy Candles Way to Wealth Creation. Available on Amazon and trending at number 18 in hot new release category. (Business Economics and Strategy). The supports for Nifty are now at 24307, 24274 and 24074(Major support Father line 200 Hours EMA) and yesterday's low. Resistances for Nifty remain at 24482, the range between 24500 and 24525. Closing above 24525 will open the doors for 24584 and 24686.
NSE:NIFTY
by Happy_Candles_Investment
Market tried to recover after forming a temporary bottom 24362.Market tried to stage a recovery after forming a temporary bottom near at 24362 to close at 24509. The recovery was good 147 points from lows of the day but ended just below 50 hours EMA Mother line which is at 24527. Closing above 24527 can help further recovery. Supports for the Nifty remain at 24465 and 24362. If 24362 is broken the only substantial support will be 24140 and Father line (200 hours EMA at 24021). Resistances on the upper side are 24527 (high and mighty Mother line of 50 Hours EMA also a trend line resistance) followed by 24587, 24660 and 24734. 24854 is the final number to conquer before we can reach 25K. To know more about Mother and Father line resistance/support and other aspects of investing please buy and read The Happy Candles Way to wealth creation. (Book Available on Amazon). With First budget of NDA 3.0 tomorrow there are chances of volatility as market expectations are high and there is also a fear of additional STT. There is also lingering action pending on F&O trades about which both finance ministry and RBI are apprehensive. It will be interesting to see what action is taken on this front. Additionally sectors like FMCG, Health care, Energy, Railway, Fertilizers, Pharma, Speciality Chemicals, Metal and IT also have lot of expectations from the budget. Policy around EVs can also help or disharten Auto sectors. Infra, Defense and Reality space will also be looking at the budget with beating heart. This is seen as make or break budget in many ways for the market with impeding correction looming large. Overall market is expectant with possibilities of lot of sectoral trends emerging from the upcoming budget tomorrow. The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty closed just below 50 hours EMA.Nifty has closed 1 point below the 50 Hour EMA at 24530. (Mother line) - to know about the Mother, Father and Small Child story read The Happy Candles Way to Wealth creation available on Amazon. Supports for Nifty now remain at 24509, 24359, 24211 and 23985. (23985 is a very important 200 hours EMA support). Resistances for Nifty will be at 24351 (50 hours EMA), 24599 and channel top resistance near 24854. Hourly RSI has cooled down from 70 which was on 18th July to 42.5. RSI support is at 38.07 and 22 levels these are the two levels after reaching which there can be a chance of a bounce back. As of now shadow of the candle is weak red.
NSE:NIFTY
by Happy_Candles_Investment
Today's high 24661 a strong resistance point to watch out for. Today's high 24661 a strong resistance point to watch out for. If Nity is not above to close above this level then we can see the fizz of the current rally going out and Nifty can go searching for supports in the short term. If we get a closing above 24661 the top of the trend seems to be near 24726 for now. Supports for Nifty seem to be near 24593, 24526, 24476 and the zone between 24443 (50 Hours EMA) and 24404. Below 24404 closing the bears will get some breathing space and can pull nifty further down.
NSE:NIFTY
by Happy_Candles_Investment
Nifty returned from an important trend line resistnace today. Nifty touched and returned from an important trend line resistance today at 24635. During the course of day another point at This will be an important hurdle to cross before we reach another hurdle which 24615 also proved to be a resistance. If these two resistances are crossed next resistance will be at 24692. Supports for Nifty are at 24526 and 24476. the zone between 24404 and 24383 forms an important band of support for Nifty as of now.
NSE:NIFTY
by Happy_Candles_Investment
Market makes a new high and closes near the same.Driven by unexpectedly positive results by TCS, most IT companies jumped in a positive rage and took the index into further unchartered territory making a high or 24592 and closing at 24502. The trend suggest that the peak can be near 24769 if the resistances of 24592 and 24662 are crossed. The supports for Spot Nifty remain at 24490, 24437, 24317 major support 50 Hours EMA (Mother line) and finally 24206. If the support of 24206 is broken there is a very high probability of bears draggin Nifty down to 200 Hours EMA (Father Line) at 23776 with various stops in between. Outlook is still neutral to positive but investors should stay nimble and keep stop losses in place.
NSE:NIFTY
by Happy_Candles_Investment
Good Support taken by Nifty today but trendline resistance loomsNifty today took a support at 24141 and market a recovery where it closed at 24324. If Nifty is able to close or hold above 24353 there can be recovery which can lead to Nifty going as high as 24403 or 24461. If and when we get a closing above 24461 we can think of crossing 24500 and hitting a high of 24520 for now. If the resistance of 24353 is not corseed and we do not get a closing above it Nifty can again go fetching a support. The support for Nifty are at 24286, 24243 (50 hours EMA)(Strong Support), 24141 and 24054. Below 24054 Bears can stake a claim and pull the Nifty further down.
NSE:NIFTY
by Happy_Candles_Investment
Nifty in a parallel channel is nearing Fibonacci resistanceNifty 50 in a parallel channel drawn on hourly candles is indicating that it might be nearing an important Fibonacci resistance of 24463. Before reaching there it needs to clear today's high that is 24443. Thus the zone between 24443 and 24463 is a huge resistance. One way to clear it would be a gap up opening tomorrow. If that is not possible tomorrow and for the reminder of the week Nifty can be under selling pressure. If 24463 is cleared the next resistance that it will face will be 24544. In case of correction and consolidation the supports will be provided by the levels of 24400, 24362, 24318 (Important Mother line support of 50 Hours EMA) and 24284. Below 24284 Nifty becomes weak and Bears can drag it to the levels of 24242 or even 24169. Further downfall will bring bears into more action and retail investors and DII can go into a full blown profit booking mode. Disclaimer: Please do not trade based on this levels of spot nifty. This post is just for education. This is not a buy or sell recommendation.
NSE:NIFTY
by Happy_Candles_Investment
Nifty made a high near our predicted top yesterday.As predicted the current top seems to be around 24408. Nifty reached round about there, made a high of 24401 and closed at 24302 which is 98.85 points down. The resistnace remains the same and supports remain the same. In fact there is a very weak additional support now at 24396 followed by 24236. Other supports for Nifty remain in the range between 24144 and 24088 (Mother Line 50 hours EMA). Below 24088 Nifty will be weak and only major support remaining will be between 23983 and 23807 before Nifty hits 23477 (Which is 200 Hours EMA). Below 23477 Bears will gain more ground and solid momentum.
NSE:NIFTY
by Happy_Candles_Investment
Nifty almost flat in but moving in a tight range. Nifty is moving in a tight range. On higher levels there is Profit booking as it falls there is buying. Perfect Bull bear tussel at play. during the tussel Nifty has found a new support of today's low at 24054. Also extended it's resistance to 24236. If we get a closing above 24236 the Channel top currently looks near 24350 to 24408 range. There is a possibility of Channel top resistance as well as channel breakout. If there is a break out we will give new targets then but supports for now are 24054, 24986, 23925 (Mother Line Support) 50 hours EMA and 23807. Resistance being at 24180, 24236 and 24408.
NSE:NIFTY
by Happy_Candles_Investment
Today's high will be an important resistance. Today's high of 24164 will be an important resistance. Closing above 24164 can open the door for 24322. 24322 is a very important channel top and trend top resistance. As there is very less room left towards the top and Nifty is delicately placed on the trend line. There are 2 things that can happen when and if the Nifty reaches channel top. There can be channel top breakout or there can be channel top resistance can come into effect and there can be consolidation and correction. If there is a correction or consolidation the support levels for Nifty will be 23982, 23859 Important 50 hours EMA (Mother Lines support). If nifty closes below 50 EMA there will be weakness. This weakness can drag Nifty further down to 23679, 23297 or even 23173.(Mid channel Support).
NSE:NIFTY
by Happy_Candles_Investment
Nifty Next Week: (Short to Medium Term Market Outlook)Nifty is moving swiftly near the channel top. In the short term hourly chart RSI is 58.8 indicating that there might be some strength left in the current rally. However, it is delicately placed between strong resistance and weak supports which indicates correction also might be round the corner. Nifty supports are at 23976 and 23881 both are weak supports. 23777 is a moderate support of 50 hours EMA. (Mother line). Strong support for Nifty is seen around the region of 23238 which has a dual support of Mid channel and 200 hours EMA. Immediate Resistances for Nifty are at 24130 (Moderate resistance) and there will be a strong resistance near 24322 (Channel top and trend top resistance. It is an interesting scenario where shadow of the candle is absolutely neutral. The dice can turn in any direction keep your stop losses in place. Market mood index indicating is another parameter to judge index and it's direction. Extreme Fear (<30), Fear (30-50), Greed (50-70), and Extreme Greed (>70). Right now the MMI index is at 71.28 indicating we have entered Extreme greed zone. So it is advised to Keep your trailing stop losses also in place. The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Short to Medium term outlookNifty is moving swiftly near the channel top. In the short term hourly chart RSI is 58.8 indicating that there might be some strength left in the current rally. However it is delicately placed between strong resistance and weak supports which indicates correction also might be round the corner. Nifty supports are at 23976 and 23881 both are weak supports. 23777 is a moderate support of 50 hours EMA. (Mother line). Strong support for Nifty is seen around the region of 23238 which has a dual support of Mid channel and 200 hours EMA. Immediate Resistances for Nifty are at 24130 (Moderate resistance) and there will be a strong resistance near 24322 (Channel top and trend top resistance. It is an interesting scenario where shadow of the candle is absolutely neutral. The dice can turn in any direction keep your stop losses in place. Market mood index indicating is another parameter to judge index and it's direction. Extreme Fear (<30), Fear (30-50), Greed (50-70), and Extreme Greed (>70). Right now the MMI index is at 71.28 indicating we have entered Extreme greed zone. So it is advised to Keep your trailing stop losses also in place.
NSE:NIFTY
by Happy_Candles_Investment
Long Term Analysis of Nifty my observations and a conclusion.The chart above is the chart of Nifty 50 since 1991. This chart here tells a few stories. I will tell you my version of these stories or observations you can derive your own conclusions from them: 1) India is a continuous bull market. There are blips due to Micro and Macro reasons but the chart keeps moving forward in the parallel channel. We are in the upper half of the channel since 2005 indicative of an economy that is moving forward and GDP that is continuously growing. There are couple of times when the market went into the lower half of the channel once was during the 2008 Sub-prime crisis and once during the COVID19 global crisis. Lot of countries of the world have still not come out of the trauma but we bounce back each time. This tells us about strength of our nation and our economy. 2) There is lot more room to grow before we hit the channel top resistance. Even in case of some major political event or market correction. We can get the mid channel support and the support of Mother line 50 Months EMA. 3) Relative Strength index is a lagging indicator used by a lot of analyst to check if the market is overbought or oversold. As per my observation over the years. We start to enter the overbought territory once the index is above 70. RSI above 80 is indicative of a market that is overbought. Similarly when the RSI levels are below 30 we enter the oversold territory and When RSI is below 20 we are in the highly oversold territory. Now if you look at the chart carefully each time monthly RSI of Nifty has gone near / above / substantially above 80 levels there has been a correction in the market. Some corrections have been large some not so substantial but inevitably market has corrected. Right now RSI of Nifty is 78.94. The levels to watch out for reversal / Consolidation / correction in my opinion can be anywhere between 79.88 and 91.35. I am not trying to scare you or predict a doomsday scenario, I am just presenting historic data in front of you. 4) Market can remain irrational for period of time beyond human comprehension. Market can remain irrational more than an investor can remain rational. So while we ride the upwave changing sectors and changing our stories and choices shuffling between small and mid and large caps do not forget to put in your stop losses and trailing stop losses. Stop losses are our friends that protect our capital and trailing stop losses are our friends that protect our profits. While we use them it can happen that a stock takes your trailing stop loss and again bounces back to huge upside but it is fine, either we learn or we win. If you have the capital you can invest again. If you will not have the capital it is an irreversible loss. Conclusion: Stay Positive but be cautious. Use stop losses with discipline and trailing stop losses generously. The chart shows that history repeats. The chart shows that India is a continuous bull market. The chart shows that long term investor will always win if he has discipline and follows a process in stock selection, profit booking and staying vigilant.
NSE:NIFTY
by Happy_Candles_Investment
Emphatic jump by Nifty on the back of IT and few other sectors.24K is done and dusted now what can we expect? As indicated earlier IT was the index to watch out for this week. There was a cup and handle formation and cup and handle breakout in the sector after lot of consolidation. Few other sectors that were red hot were Energy, Infra and consumption. We had also indicated that Mid and small cap shares will face the brunt of profit booking as there is a sectoral shift towards large caps. Nifty has given a closing above important Fibonacci level of 23931 and it has opened the door for Nifty to grow towards the targets of 24246 and 24707 if we get a closing above today's high of 24087. 24K closing is done and dusted. Weekly closing tomorrow and more importantly monthly closing above 24K will has potential to give further boost to the market in the medium and long run. Important support levels to watch out for Nifty will be at 23931, 23750 followed by 23338. Most important Mother line support of 50 days EMA is at 22912 now. Nifty will come back once may be tomorrow / next week or next month. to test one of these support. A word of caution: Many sectors like Sugar, Electronic manufacturing, Textile, Defense, PSUs,Energy, Infra, Fertilizers (Agro) and Speciality Chemicals, health care and insurance, consumption are expecting good budget which will favour them. Incase the budget is disappointing they will be the first to bear the brunt of the market. So be cautious with your stop losses while you enjoy the upward ride.
NSE:NIFTY
by Happy_Candles_Investment
New High and closing above trend line for Nifty. Nifty at All Time High What is in store next? What are the support and resistance levels now?: Nifty has made a new high on the back of rallying major Large caps in Bank Nifty, Financial services and IT stocks. Small cap was stable but Public sector, Mid-caps and Realty stocks were bearing the brunt of Profit booking. We have been indicating a major shift towards large caps since few weeks now. Important Resistance levels for Nifty now will be today's high of levels for 23754 followed by 23931 important fibonacci resistance. If we get a closing above 23931 that will open the door towards future fibonacci levels of 24246 and 24707. (fibonacci levels are usually calculated from previous top and previous bottom of Nifty here.) Important support levels for Nifty are at 23338, 23082 and 22825 (50 days EMA, Mother line support). Below 22825 Bears can pull Nifty below 22285 or even 22044 levels in worst case scenario. IT, Banking, Financials, selective Mid- and small cap can still rally further. Some Green shots in Chemical and Pharma sector too. But keep your stop losses and trailing stop losses in check. Nifty is trying to form a new top or may have formed it so be cautious. RSI is indicating that there might be little more room for growth if we get a closing above levels indicated earlier in the message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty has taken a good support.Nifty has taken a good support at 23340 and given a closing above 50 hours EMA at 23537. Shadow of the candle for now has turned positive. There is a strong resistance in place near 23548. 23455 (50 Hours EMA) and 23340 are good supports for now. Above 23548 the next resistances can be 23568 and 23667. Let us see if Nifty rally has gained some steam after little bit of consolidation to go above the next 3 strong resistance. There can be some Profit bookings and pressure to sell once these 3 levels come near.
NSE:NIFTYLong
by Happy_Candles_Investment