Nifty is loading for next up moveThe index is trading within 200 points range.
Let one 15 min candle close out of this range for breakout confirmation either side.
Potential target will be 200 points as it is 200 points range.
#nifty
Niftyindia
Nifty hovering around critical support of 15050.Holding 15050 will be very critical for Nifty 50 in order to not fall totally into the bear grip. Not that Nifty isn't in bear grip already but falling below 15050 will be indication of real weakness which can take Nifty searching for supports which might be available only near 200 weeks EMA or there about.
Critical Support Zone for Nifty or (Reversal zone 1) can be 15180 and 15050. Closing below 15050 would mean that critical support has been broken.
Further Strong supports thereafter will be: 14692(Reversal Zone 2), 14356, 13945 and finally 200 Weeks EMA at 13767. (Reversal Zone 3).
Once there is a strong reversal the resistances will be: 15949, 16529, 16912 and finally 17308.
Whenever the next bull-run starts the new top will be around 20203. (Medium to long term out-look is still very positive).
#Nifty || 17th June 2022 || Falcon Trader || Daily AnalysisStory time, I knew FOMC meeting will happen, 75BPS is priced in, but I was not carrying any positions.
Before mega event it is better to avoid holding positions as it will never help.
Market opened gap up and stop loss of many triggered, and people who were writing puts squared off and so on.
Followed by massive call writing and sharp selling leading to wave 5th formation.
Thus completing our story of wave 5th of 3rd.
Now I think price should go up in 3 waves ABC format for wave 4. Tricky but sweet and people who were late at shorting will learn a lesson.
Having said that, I myself made few mistakes and had to close my positions and open new ones. Falcon has speed and can fast trade and switch sides.
Hope this chart helps.
Like and follow for more analysis daily.
Once we touch 15900 levels, we can plan to short again... till 14K levels and beyond. Time will tell, lets focus on one day at a time
Nifty 50
nifty50 has broken the range on daily tf (time frame)
it is now also below the ichimoku cloud on the week chart
expecting nifty to bottom out at 15200 - 15150 (50 points range)
for the target of 16000 .
#Nifty || 14th June 2022 || Falcon Trader || Daily Analysis We are moving as per plan. A complete Falcon Wave count was shared in 13th June Analysis post - link below.
Now we move up in a very short term relief, the perfect trading will require you to trade in the direction of trend which should be bearish at the moment, meaning look for shorts only.
Small target around 15900 levels, followed by continued massive downward pressure. This should last till 15K levels before we get some relief.
Main support zones which will be destroyed as price will pierce through them will be 15700 and then 15300 - while bulls will order samosa today, but later they will become samosa vendor (pun intended) when the price will rock bottom as bears will continue to attack.
Don't forget the updated Game Chart where I discuss how we have entered Hell Fire which has a price magnet attached - this means more pain for people who were thinking of moon. Let the summer finish first.
Now only Falcon can help you to take the speed ...
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Nifty in search of bottom. NIFTY is in search of Bottom which might be around current zone to 15590. if 15590 is broken we may be heading for a sub 15K bottom near 14779 range. 14779 can provide a very strong support on the lower side and on the upper side now 15900, 16200 and 16400 will be strong resistances. Short covering that might come after bottom formation will be very fast and ruthless. Global sentiments are week and some positive news on Crude / War / Inflation and stability in Supply chains will only help the market settle down and release the panic valve. Markets are falling in line with international indices falling. India in a long run is set to benefit from scheme on things. Short term out look is negative but long term outlook on India still remains bullish.
NIFTY Daily Analysis 9th June 2022NIFTY perfectly bounced back from 16250 just like we discussed yesterday. NIFTY has to try breaking 16500 now, with good volumes to see Upside towards 16640 levels.
On downside, today's low can become a good Support at 16250 level
Nifty view for 10/06/22Nifty was in a good up move in the secomd half of the day ans closed above 16400. It almost touched 16500 levels and closed near by.
It has given a nice bullish daily candle and above its 20 DMA.
On 15 minute analysis, it took a nice support from its 20 ema and closed bear its Resisitance level of 16480.
Support :- 16370, 16320
Resistance :- 16480, 16560
Market has been given a nice movement and can remain in green.
Wait and watch the price action near the levels before trading the market.
NIFTY FOR TOMMOROW - 8 June 2022Nifty opens slightly gap @ 16474 vs yesterday's close at 16416.
Nifty saw a sell-off initially in the first hour, though took support at the levels .
Nifty bounced sharply from the support levels ( 16340)
Nifty then took resistance at day's high, saw a selloff from there, and closed near day's low.
The nifty structure still looks weak and the sell-off can extend further if it breaks 16340 decisively.
Nifty Support and resistance for tomorrow
Support at 16000-15800
Resistance at 16476- 16480
NIFTY looks weak after today - EOD analysis June 8th 2022NSE:NIFTY NIFTY has given a big down move today on back of RBI policy and Reliance n FMCG stocks falling.
NIFTY can test 16250 levels once again before moving upwards. If it breaks 16250 level, then it can retest 16000 levels pretty quickly.
On Upside, there is huge resistance at 16600 levels which doesn't seem to be tested anytime soon.
NIFTY formed a DOJI on Daily ChartsDespite strong positive cues on World markets, NIFTY couldn't move higher.
Today's move was quite undecisive and looking at current DOW and S&P500, they're slightly positive.
This could mean that tomorrow morning we might see a small pull back towards 16665 - 16700 levels.
On downside, 16440-16480 continues to be strong support zone, which has been tested multiple times in last few days.
NSE:NIFTY
Weekly NIFTY Outlook From 06th June to 10th June 2022After struggling to cross 50 EMA resistance Nifty on Friday crossed it finally and the momentum helped it to cross 200 days EMA too. But the joy was short lived and 200 days pushed NIFTY downwards so hard that end of Friday the indices where reeling under both 200 and 50 EMA as you can see in the chart. Now NIFTY will look to find a support again. Only after finding a proper support, Nifty will rise again and try to conquer both 50 and 200 EMA Resistances which are close to one another and a formidable resistance to conquer.
The Support Zones: 16531, 16442, 16228, 16086, 15904 (Very strong support) and finally 15756. Below 15756 bears will have full control of the market.
The Resistance Zones: 16674, 16746 (Very strong resistance), 16793 and finally 16951. Above 167953 we can see the rally consolidate towards 17300 levels.
Nifty 44 Moving Average ResistanceOn daily chart nifty failed to close above 44 MA.
Closing above the MA will trigger strong buying and we can retest previous all time high.
BULLs In-charge: NIFTY formed BULLISH ENGULFING pattern on DailyNIFTY today formed almost a Bullish Engulfing candlestick pattern on Daily charts.
Today's candle is more like Bullish Marubozu which suggests strong Bullish momentum.
BULLS are in complete charge of the market and looks like there is a Buy on every small Dip.
Now, BULLS have to break above a crucial resistance between 16665 - 16700 levels, if its able to break above it then next Target would be 16900 levels.
On Downside, NIFTY can take support from 16400 - 16490 levels, if that is broken then on downside we can see NIFTY levels of 16200.
Nifty Elliott wave (preferred) countsNifty Preferred EW Wave counts from Covid Low to 2021 high (~18600)
Major Impulse counts are labelled in Blue with minor wave counts in Orange. Major correction waves are labelled in Pink and Sub-waves within major correction waves are shown in green.
Wave 1 is some sort of diagonal - leading diagonal
Wave 3 is subdivided again in 5 impulse waves with subwave 5 extended.
Wave 4 is shallow correction with most likely some sort of descending triangle formation
Wave 2 (Blue) retraced up to 0.618 Golden fib ratio.
Wave 3 (Blue) is extended till 2.618 Fib from wave 1.
Wave 5 (Blue) is extended in the region from 0.5 to 0.618 FIB from Wave 1 and 3.
Present correction started from 18500-600 zone is evolving as WXY (mostly Double zigzag) with Y leg in formation. W leg is again subdivided in ABC (green color) X is a failed impulse with its own abc (green color) and Most likely it is in Y wave formation.
We will try to label Y wave as the price evolves. These corrective wave counts are invalid when the red downtrend line is broken and price closes above it.
If the counts are valid and Y leg is in progress, possible targets for Y wave should be somewhere around 14900-14500 zone where 1:1 extension (wave w = wave y) or 0.382 FIB retracement on the entire 5 impulse waves (From covid low to 2021 High)
Nice setup for NIFTY.Market momentum is back for the time being as NIFTY has sustained above 16400-16495 zone which was a strong resistance. On Monday the market closed at 16664.1 which is just below another strong resistance zone of 16690 to 16753. Crossing this zone, we can see a rally up to 16900-17300 zone.
Resistance levels: 16690, 16753, 16959, 17100 and finally if the momentum sustains we can arrive up to the mega resistance of 17385.
Support Levels: 16500, 16219, 15913. The range between 15886 to 15700 is a mega support zone.
Nifty view for 31/05/22.Nifty has created a gap and in second half consolidated above 16600.
Market were strong and remained in green the whole day.
On 15 minute analysis, it has respected the support of 20 ema.
Support :- 16600, 16480
Resistance :- 16700, 16800
Market has been given a nice movement initially even after the gap up.
Wait and watch the price action near the levels before trading the market.
Market Outlook 30th May to 3rd June 2022. Market has given strong push with thrust upwards towards end of this week. The rally if sustains above 16400-16495 zone will push momentum in favor of Bulls and Market can continue rally in coming week or weeks towards 16700 and above. The important level to hold and cross for Nifty would be 16400.
The Support Zones: 16219, 16026, 15913 and finally 15766. Below 15766 bears will have full control of the market.
The Resistance Zones: 16400, 16489, 16692 and 16754 will be a major resistance. Above 16754 we can see the rally consolidate towards 16900 and 17300 levels.
DZ 1 on Monthly DZ 2 on Quarterly (Worst Case)Analysis based on Demand & Supply. On quarterly TF the demand zone is yet too far but on daily TF its near. Keeping Fingers Crossed.
NIFTY approaching Sell Zone, if it breaks next target 16484 lvlNIFTY has taken a strong support and inching towards the Sell zone from 16387 to 16412.
If it breaks this levels next target is 16484 lvl and it it is able to break this level of 16484, then there would be huge & quick upward rally to fill up the gap between 16484 - 16624 made during the starting of May 2022.
NIFTY || 27th May 2022 || Falcon Trader || Daily AnalysisNIFTY 50, BOUNCED OFF from the levels as mentioned on the post related to 26th May 2022. We are seeing some bullish momentum to break 16400 levels. Once this level is taken we can even test 16600 levels.
After this is over, we will again fall down to make new lows.
Next levels to watch,
* Break of 16200 levels
* Break and test of 16400 levels
Downside?
Only if US markets are down we will see some low levels but for 27th May 2022 we are headed upwards
