Since Flag and pole breakout there are chances that even though 50 bps rate cut has been announced by US FED there are chances of Nifty trying to retest some supports. Today Nifty tested 50 hours EMA Mother line. But there is a chance that it may test the support again. If Mother line 25282 does not support again like today there is a chance of Nifty testing...
There was an immense bout of profit booking specially in the mid and small cap stocks decimation happened in PSU stocks. Many of these stocks are near important support levels now. Many seem to have taken support today. Nifty itself took support today near 25376. Looks like this was a strong support below which is another important mother line support of 25322. To...
Flag formation in Nifty indicates some strength but be cautious as there might be chances of profit booking at higher levels. The Fibonacci levels drawn based on previous peaks indicate the next resistance between 25449 and 25493. If 25493 is crossed and we get a closing above it there is a possibility of a rally upto 25600 or 25698 levels. This will be a...
Nifty Short, Medium & Long Term : 16-Sep-24 to 20-Sep-24 Nifty closed at 25356 ( Last week 24855 ) and touched low & high of 24471-25429 ( all time high) Market touched new high last week , and nearing the Short term Resistance at 25545. RSI and stochastics levels moved up last week (63% and 87% respectively). MACD level and signal are at same level. Nifty...
Nifty consolidated for a while tested new bottom near 24753 Nifty has today taken down all the resistances and made a new all time high of 25433. Nifty could not hold on to 25.4K+ levels today so the immediate resistance for Nifty will be today's high that is 25433. The next resistance is near 24537. Channel top seems to be near 25653. The door are now open for...
Nifty is getting trapped between Two trend lines and will look to consolidate further till the trend line is broken on either side. In addition to the trend lines, Nifty is also trapped between Mother and Father line of 50 and 200 Hours EMA. Very interestingly poised Nifty with negative shadow of the candle. Immediate resistances are near 24970, 25027, 25130 and...
After remaining positive and buoyant the full day Mid-channel resistance came to force and stopped Nifty from further growth today, dragging it down from day's high of 25130. The closing is good and above Mother line (50 days EMA). To know more about Mother, father and small child theory and Happy Candles numbers that we assign to stocks read my book The Happy...
Slightly gap up opening expected in nifty above 24950 level. If nifty sustain above this level then possible upside rally upto 25150+ level. 24950-24800 will remain consolidation zone for nifty. Strong downside only expected below 24800 level.
The Indian stock market experienced a significant downturn last week, with the Nifty 50 closing at 24,852, a substantial 400 points below the previous week's close. Despite reaching a weekly high of 25,333, the index ultimately settled within its expected range of 25,850 to 24,600. Looking ahead, a bearish outlook prevails for the coming week. The Nifty is...
Nifty today looked very weak as it was not able to sustain many important support levels. Relative strength index of Nifty is also looking that it might fall further. The candle looks like an Olympic diver which has jumped from the podium. You can never say never but shadow of the candle as of now looks very negative and dark red in colour. Resistance for Nifty...
There are multiple global and local factors playing together line the multiple trendlines shown in the graph converging and diverging. These forces are not allowing Nifty to fall much and recover if it falls. At the same time they are not allowing Nifty to fly away towards 25.5K and above. The support levels for Nifty are at 25133 (Mother Line Support), 25083,...
Dear Traders, I trust this message finds you well in both your trading endeavors and personal pursuits. I am pleased to present a compelling opportunity through a new NIFTY analysis that indicates an imminent significant market shift. The recent upward surge in the market has prompted concerns, as my analysis over the past two months has consistently pointed to...
Slightly gap down opening expected in nifty near 25200 level. After opening possible it will take a support at this level. If nifty starts trading and sustain above 25250 level then possible 25400+ rally in today's session. Strong downside fall expected in case nifty starts trading below 25200 level. 25000 level will act a strong support for today's session.
Dear Traders, I trust this message finds you well in both your trading endeavors and personal pursuits. I am pleased to present a compelling opportunity through a new NIFTY analysis that indicates an imminent significant market shift. The recent upward surge in the market has prompted concerns, as my analysis over the past two months has consistently...
Although the closing on Nifty today was flat, as you can see from the chart closing was below a trendline which shows weakness. This weakness can lead to little more consolidation or can send Nifty searching for a substantial support. Resistance on the upper side seem to be at 25304 and 25337. Supports for Nifty are at 25241, 25197 below this level the major...
Nifty has attempted multiple times to break free and run wild but it has not succeeded. After making a new high there is consistent bout of profit booking seen. Over a few days now overall market breadth is not on the positive side. This phenomenon is natural when we are making new tops almost every day. Resistances for Nifty at this juncture are at 25330 and...
#Nifty surged to a new all-time high of 25236 this week, gaining nearly 400 points from the previous week's close. As predicted, the market remained within the 25500-24200 range. For the coming week, I anticipate Nifty to trade between 25850 and 24600 . A break above or below these levels could trigger significant price movements. If Nifty can sustain above...
Nifty has given a solid closing above previous ATH and important Fibonacci level showing growing momentum. A new All Time High was made today at 25192.90 for Nifty which closed strongly at 25151.95. Now there is a strong support zone for Nifty between 24998 and 24933. 24933 happens to be 50 EMA (Mother's line) as well as mid channel support. This resistance will...