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Niftyoutlook

NIFTY--13-09-23I am sharing the important levels of Support and Resistance. These levels play a crucial role in trading decisions, as they act as reliable markers of price movements. ------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further. ---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher. Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies. Trade safe...Thank you guys for your support.
NSE:NIFTY
by IIT-Trader
12
Consolidation needs after making a historic new high. Nifty made a new high today and crossed 20K for the first time making a high of 20008.15 however Nifty could not sustain the levels and closed below 20000 at 19996.35. Point number 1 is Closing above 20008.15 is important now to grow further. Second point it RSI in the hourly chart indicates that the index is overbought. On daily charts the indicates that there is some more legroom for Nifty to go ahead perhaps towards 20203 and 20400 levels in the medium term. Supports for Nifty are at 19867, 19720 and 19516. Final support for Nifty closing below which the trend can change is 19385 (Major Support). Some correction or consolidation before rampaging ahead will not be such a great thing for sustainable progress. There is long way to go but let us not get carried away. Alway have a feet on the ground approach guard your capital by by putting stop losses and guard your profits by putting trailing stop losses. In uncharted territories Stop losses and trailing stop losses will always prove to be your best friends.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY--Retracement or Reversal ?? The price has exhibited significant bullish momentum starting from the 19,200 levels. However, before attempting to challenge the bearish gap left at the all-time high (ATH), it's likely to experience retracements towards previous resistance levels. Should these resistance levels fail to sustain upward pressure, a notable bearish reversal could become apparent. Following a period of strong bullish movement, the price appears to have entered a ranging phase. During this phase, it may be prudent to consider short positions, anticipating the possibility of price offering discounts before potentially resuming its upward trajectory. If retracement failed, they will take the price entirely to the bottom side...keep safe before long. Reversal may occur.
NSE:NIFTY
by IIT-Trader
3
NIFTY--08/09/23I am sharing the important levels of Support and Resistance. These levels play a crucial role in trading decisions, as they act as reliable markers of price movements. Support levels are price points where an asset tends to find buying interest, preventing it from falling further. Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher. Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies. Trade safe...Thank you guys for your support.
NSE:NIFTY
by IIT-Trader
9
Nifty looking Bullish but approaching a major resistance zone. Nifty is looking Bullish but approaching a major resistance zone. The zone between 19637 and 19680 is a strong resistance for Nifty. Once we get a closing above 19680 the channel towards 19764, 19811, 19866 and previous high of Nifty 19991 and new high will open up. Until then the supports for Nifty will be 19585 (Not a strong support) and 19492. The zone between 19469 and 19430 is now a strong support zone. Overall sentiment of Nifty is looking bullish but lot of sectors and indices are starting to look a little bit overbought on RSI so please keep your stop losses handy.
NSE:NIFTYLong
by Happy_Candles_Investment
Next 3 resistances very critical for nifty. Next 3 resistances very critical for Nifty to reach 20K levels. These resistances are at 19585, 19646 and finally 19680. Crossing these zones will trigger further euphoria in Nifty and we may see it go towards 19764 and it may even the previous highs. however lot of indices like small and Mid cap are nearing or already reached the overbought zones so investors should remain cautious and use trailing stop losses which can be best friends who protect capital and profits. Supports on the lower side are 19525, 19492, 19455 to 19421 zone can also be good support. Below 19421 the Nifty will again become weak and bears will try to regain the controls.
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY--Consolidation + Bullish ??Nifty index, After breaking a trendline failed to move upside.... Now after 3 successive gap ups price tested the support again and showing us strong bullish in action. multiple times price taken the reversal from 19500 levels... this level is failed to take the price downside... If this strong bullish momentum will clears an obstacle to reach the bearish gap left @19750 levels... then will soon that level be tested. If price opens up and may continue upside... or if price may gives us some retracement to 19380-19360 levels will look for long , gives us discount. Its already giving discount after 3 successful gap ups, saying I am bullish we have resistance @ 19600 may gives us pullback if it is a bullish scenario. this is the only shortcut way to reach the resistances again... If we see at 19300 levels price consolidation + moving upside means a chance of bearish again...keep safe before long after these resistances. will see in the next session what happens...
NSE:NIFTY
by IIT-Trader
2
NIFTY--Drop Base Drop or Bullish ??NIFTY index, 3 continuous bullish gaps indicating bullishness... Gap up opening and filling the gap and again gap up opening ... this happens in the last 3 successive sessions.... In higher time frame price action is still bearish, After a strong break above the 19500 levels... a strong fall is observed up to 19300 levels... the liquidity grab on bottom side is finished... and now price is moving in a bullish channel,with 3 continuous bullish gaps.... if this move continuously happens to top side... tomorrow the liquidity on the topside @19650 levels will be finished soon. Keep safe...
NSE:NIFTY
by IIT-Trader
10
Nifty delicately placed at Mid-Channel line support. Nifty delicately placed at Mid-Channel line support. Nifty closed below very important 50 days EMA support or the Mother line. 19196 to 19243 is the next support zone. Closing below 19196 will open the floodgates for bears and the next support level will be near 19024. Below 19024 the support zone will be between 18456 and 18861. So the negativity for Nifty looks empowering and impending. However in case there is a reversal from mid-channel line which looks little difficult but in case that happens resistances on the upper side are 19354 and 19405 which are the 50 and 200 Hours EMA respectively.
NSE:NIFTYShort
by Happy_Candles_Investment
NIFTY--Bullish or Bearish ??After a strong bullish gap...price reversed and entire day is trading in a bullish channel... at the end of the session broken the channel and retested... It has broken the trendline as well... so tomorrow opening is very important for us...to be bullish or bearish... If opens down and continue will enter short side on retracement... or opens down and unable to break high then also be on the short side... If opens up and gives us retracement will be on buy side...up to 19500 levels... After down opening if price consolidates mean...break down happens...we have bullish gap left below... Keep safe
NSE:NIFTY
by IIT-Trader
15