Nifty My-Levels for 16th JuneThis is not a prediction! And never believe in any prediction either! Just My-Lines to watch if it's respected and PA have an edge will buy or Short. Trade your system, trade what you see!
Niftyoutlook
NIFTY Analysis??observations::
Price closed @ Supply zone.
previously A strong fall is observed from this place...
In this zone price is again showing consolidation and moved up.
If it is a Accumalation + Manipulation = Only Dstribution is left.
if tomorrow price falls below the demand zone, then will go for sell on retracement to below levels.
Is it 15th today? Again?2 months duration a cycle extends to usually, 15th is the time when momentum shifts and 5th day is the day velocity stops and moves backwards. By this theory today's ignition will take Nifty back to 18500 but do not forget the rally to the 19000 levels is yet to come and would be dreadful for bears.
NIFTY 50 all set to fallNIFTY 50 is currently trading around 18727 and has reached at major Daily and Weekly resistance area and current price action doesn't show any signs that it break break the resistance so my idea is it will be bearish during this week. Below is the possible sell opportunity
Sell around 18727
STOP LOSS: 18803
TAKE PROFIT 1: 18559
TAKE PROFIT 2: 18383
use proper money management and this analysis is for educational purpose only and not a financial advise.
18768 to 18778 proving to be resistance once again. The Ten point range between 18768 to 18778 proving to be resistance once again. Nifty however closed above the strong support of 18728. Other supports for Nifty are 18656 to 18639 zone (Strong Support). Below this area Nifty has support only near 18555, 18465 and 18417. Resistances for Nifty on the upper side if it crosses the zone of 18768 to 18778 are near 18831 and 18887.6 (Previous All Time High).
Nifty My-Levels for 14th JuneThis is not a prediction! And never believe in any prediction either! Just My-Lines to watch if it's respected and PA have an edge will buy or Short. Trade your system, trade what you see!
Importance of mid channel line in parallel channel tool. Last 3 weeks or so we saw the Importance of mid channel line in parallel channel tool. Thrice Mid channel line supported the Nifty and Nifty bounced from there. When a support is taken multiple times mostly it becomes weak. This led to fall of Nifty below Mid channel line. Once the price is below the line which was a support. The line becomes a resistance. Mid channel line is now a resistance and the same line is stopping Nifty from going ahead since couple of sessions. It was an important lesson hence explaining at depth.
Nifty Resistance remain at: 18624, 18678, 18722 and 18778.
Nifty Supports present at: 18555, 18512, 18465, 18402 and finally 18371.
Nifty My-Levels for 13th JuneThis is not a prediction! And never believe in any prediction either! Just My-Lines to watch if it's respected and PA have an edge will buy or Short. Trade your system, trade what you see!
Go long Go Blue. It might be a gap up/down morning tomorrow, but all we traders need to think is should we ignore the reversal pattern that erases bearish momentum at each interval since past 3 months, yeah because this will be the choice in front of you to decide whether we support the narrow lane of downside or enjoy the swift train which has stations above 19000 levels.
Nifty Weekly Analysis for Jun 12 - 16🔍 Analysis on Nifty for the Upcoming Week 🔮
Jun 12 - 16
The Nifty index seems to exhibit a bullish trend in both long-term & short-term as well, according to the market structure.
📈 Key Levels to Monitor:
In the upcoming week, it's important to monitor key levels 18250, 18530, 18535, 18660, 18775, & 18885.
🔎My outlook:
The outlook for the upcoming week’s trading suggests a non-directional market, potentially characterized by a sideways pattern.
📈 Bullish Scenario:
If Nifty breaks out above the significant level of 18780, supported by a strong and clear daily candle, it could indicate a bullish market trend.
📉 Bearish Scenario:
However, if Nifty breaks down below 18530, confirmed by a strong and clear daily candle, it may signal a decline towards the 18250 level.
📊 Support Level:
As long as Nifty sustains above the support level of 18530, the market can be viewed as bullish.
Nifty Closed above imp resistance, holding above it important. Yesterday we had given 18721 as an important resistance for Spot nifty. Today it has closed just above it which is a good sign. It was not a strong close but it was a good close. Key Resistances now are 18778, 18824 and previous All time high of 18887.6. Supports for the Nifty will be at 18721 it is a weak support as of now. 18683, 18639 and 18572. Relative Strength Index of Nifty is above 73 and the chart is going in the area again where Nifty will soon if not tomorrow require a little bit of consolidation or cooling down.
Nifty daily analysisIf market opens above 18700 and then give breakout after consolidation, we can buy.
Nifty is not good zone for sellling. We can enter banknifty for selling if market opens with big gapdown.
Mid Channel Line providing a moderate support to NiftyMid Channel Line providing a moderate support to Nifty in the second half of the day in last trading session. As you can see from the chart Mid-Channel line drawn on the hourly chart provided a solid support to the nifty as the Nifty jumped from 18531 to close near 18599. Supports nearby are now at 18531 and 18507. Resistance zone will be 18639 and 18667. Above 18667 the next resistance is near 18721
Nifty daily analysisIf nifty breaks upper level of 18640 then we can buy in full quantity
if nifty breaks lower level of 18580 then we can sell in small quantity for a target of 30-40 points.
Big selling pressure will come only below 18500/18480 level.
so between 18640-18500 trade in small quantity
Inverse head and shoulder pattern Breakout in Asian paint.Asian paint has given pattern on daily chart.
We can expect a big moves in Asian paint. One should hold Asian paint for a short term.
NIFTY--Turned to be Bullish Again??Observations::
Price is exactly closed near the Previous Strong Resistance,
If this acts as support will observe bullishness towards 18600,18700 levels.
If price breaks 18700 levels, it may touch ATH as well...will see this later, it will touch or not.
Until Keep watch these levels.
We have a demand zone @18200,which is a strong demand may acts as support again.
Nifty Closed well on a testing day, another test awaits tomorrowNifty Closed well on a testing day, another test awaits tomorrow as the world awaits result of Voting in US Parliament to resolve Debt ceiling crisis. Global indices are down and awaiting the result eagerly. Support that spot Nifty has is today' low of 18483 from where the Nifty managed to recover today. The support may be tested tomorrow again. Just below it we have 50 Hours EMA at 18467 which might also be tested. Below these levels important supports remain at 18416 and 18379. Below 18379 Bear cartel can get activated. When Nifty has found a strong support and if result of Debt Ceiling crisis by raising the ceiling the resistances will be near 18576, 18600, 18637 and 18662. We still live in a world where if US sneezes the World catches cold. (Indian GDP numbers were great and can provide support to Nifty 50 and many other stocks.)
NIFTY--18700 or 18500 Observations::
---->> Price is trading in range after opening gap up.
consolidation + Bullish = Sell @ Resistance.(18700 Resistance)
Consolidation + Bearish = Buy @ Support (Gap may acts as Support.)
If price showing bullish pressure towards 18700, wait here for reversal may happens, previous strong fall area.
if price comes back to 18450-18500 levels, look for buy.
if price breaks 18575 zone retest sell for target of 18500 zone. After break retest in needed to sell.
Previous strong resistance may turned to be support @18450 range.
Aascending broadening wedge - NiftyAscending broadening wedge, Bearish reversal pattern accompanied in Regression Channel.
It is visible in the shorter time frame whereas In a daytime frame, it looks bullish. The pattern will be confirmed if nifty goes below the support line.
NIFTY--18700 Or 18200Observations:: NSE:NIFTY
----->> if we see monthly candle it is a strong bearish candle,
------>> If we see weekly analysis , price enters into a zone where previous strong rejection area.
we are still in that area , High of that area is 18700.so we will buy up to 18700 area.
------>> If we go for daily analysis , price enters in that area and showing downward pressure,
price created a support in the zone @18060 level, while entering in to the resistance area.
so that level acts as support and price moved to the resistance zone again with strong bullish candle,
and breaks the previous resistance @18460 level.
----------------------------------------------------------------------------------------
Now we can see the clear picture,
Case1::
If Yesterday strong bullishness is a manipulation and fake breakout above 18460 level,
we are going to sell below 18400 where previous strong resistance, for the target's of
18360-18320,18260,18200 only.
while breaking the resistance @ 18460 price created a support @18200 level which is a new support.
case 2::
If this is a strong breakout, we have a next resistance @18700 level,
we will continue to move in the same direction, but a retracement is needed to go long,
after breaking the resistance @18460 levels no proper retracement is not seen.
if retracement is done to these levels, 18460-18400 levels and will go for buying above 18460
for targets of 18500,18570-18610 and 18700 levels.
@18570-18610 level previously bullishness and bearishness is observed @ same zone.
So clearly this week price is ranging above 18200-18700, in the middile we have resistance @18460 zone,
if this zone acts as support we go for buying up to 18700 levels,
if again acts as resistance will go for selling up to 18200 levels.
NIFTY--Strong Supply@ 18440-18460 ??Price is exactly closed in the strong Demand zone, which is previous supply zone.
if this zone acts as support, price will go up, up to the next resistance @ 18438-18458 range. Résistance + supply zone. = Strong push to downwards may observe.
Today's fall is due to previous supply zone @18400 levels, We are left with one supply that is not tested @ 18438-18458 levels.
Look here for sell for the target of 18360 and 18260, if price falls below keep in the trade up to 18000 levels.
Keep note ::
Price may be consolidate between the supply@ 18400 and supply zone @18440 levels, enter on breaking the 18400 and retest of any supply to below levels.
If price is not able to break and still in the same range the expiry neutral.
Nifty daily analysisIf market breaks 18280 then chances of nifty consolidating between 18400-18100 in this month becomes much greater.
So you could trade for small targets in between
NIFTY-- 18500 or 18000 ??Observations::
Price is clearly closed in the Previous supply zone. If supply acts as demand price is again bullish,
we have one more supply zone below @18260 if this pushes the price up again bullish ??
After a strong consolidation price is bearish which is a sign of bullish again to test the supply @18500 levels.
consolidation + down move= up side
Look for selling opportunity from 18450-18500 zone, falls below 18400 levels, 18400 acts as resistance we can go for sell again.
