Nifty 50 Updates for next weekAfter consolidating for two weeks between 16,800-17,500 levels, Nifty 50 Index finally broke the range and continued to fall sharply, triggered mainly by surprise interest rate hike by the RBI, hawkish commentary from US Fed and mixed corporate results. The short-term trend has turned bearish and it is likely that markets can further slide lower. The volatility climbed above the 21 mark again, indicating that the trend may be in favour of bears.
Week ahead
The range break during previous week has triggered ABCD (as discussed in previous weeks analysis) and XABCD Patterns. Index has formed a doji candle on the daily charts, after a significant fall and the breakdown and retesting of PDL of 16,350 will fuel fresh down-move with targets (PRZs) of 16,200 and 16,000 (Key support) respectively. One can look for a reversal in shorter timeframe in this strong demand zone. Any pullback rally is possible only if 16,500 levels is sustained with resistances at 16,650 and 16,800 (Strong resistance). Pullbacks may be short-lived as we are currently in a ‘sell-on-rise markets’ and one should keep trailing profits or keep targets small on the long side. 16,000-16,800 is the likely range for the Index in the upcoming week and volatility is expected to remain high. Carrying unhedged positions may be risky because of the gap downs / ups and its advisable to keep the position size low.
On the news front, Markets will react to RIL results in early trade on Monday. US, China and domestic inflation numbers, Data on India's industrial output, and manufacturing output will keep Indian markets on edge. Follow us for real-time updates as the week progresses.
Niftyoutlook
Nifty view for 09/05/22Nifty has created a gap an has traded in a range.
It took resisitance from its 20ema on 15 minutes time frame.
Support :- 16200, 15800
Resistance :- 16480, 16620
Market has been trading in a range and has consolidated on previous trading day.
Wait and watch the price action near the levels befote trading the market.
Support for Nifty might be round the corner. (Weekly Outlook)It was a bad week for NIFTY all hopes of recovery vanished as NIFTY could not sustain above 200 EMA after failing to sustain above 50 days EMA last week. NIFTY is trapped in a downward parallel channel currently having broken even the mid channel support levels from where NIFTY can turn upwards now are at.
Important Support Levels for NIFTY will be: 16340, 16135 (key support), 16009 and finally 15500 (Channel bottom).
Important Resistance levels for NIFTY will be: 16484, 16616, 16858 and 17072.
Shorting the #Nifty Hi peeps we closed below the neck line and staying there for over 20 min so my thesis is that we will see more downside for the Nifty Bank
Brilliant Recovery By Nifty. Imp support and resistance levels.Nifty closed 151.75 above days low. although the day ended in negative as Nifty closed at 17069 but the fact that Nifty took support above 200 days EMA is heart warming for investors. Follow up candles and what happens in the coming days is important as US Fed meets later this week and there are important upcoming announcements for global Central banks later this months.
Important Support Levels will be: 16917, 16867, 16788 and 16554.
Important Resistance levels will be: 17099, 17375, 17442 and 17650.
Nifty is in down trendPrimary Trend for a week on a 15 min time frame is uptrend. But last 1 one hour of previous trading day there was a huge selling. Nifty has fallen about 300 points and closed at 17111.06 that is below near weekly pivot of 17102.55.
Nifty is trading between 16800 to 17400 for 2 weeks. Everytime it broken 17000 on lower side it took support around 16800 to 16900 and bounced back to 17000. In previous fall there was a support around these levels that's holding the nifty from falling.
Because of weakness in global markets SGX nifty indicating open gapdown about 200points at 16900. That is Far below daily pivot of 17177.82 and weekly pivot of 1722.97
Nifty 50 Updates for next weekWeek ahead
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Nifty 50 Index has been stuck in a sideways range over the last two weeks. Index is oscillating between 16,800 and 17,500 and the same levels are likely to remain crucial for the upcoming week. As discussed in our previous weekly analysis (April 24, 2022), Nifty 50 Index formed a double bottom at 16800 levels (Important support for the week – Half bat pattern) and then traded in the range over the week with high volatility. Index opened with gaps on all sessions with trending moves in both directions during last 2 sessions. While the market stayed largely flat on a week-on-week basis, volatility increased. India VIX rose 5.79 per cent to 19.42.
Lately on Friday, US markets witnessed another technology led sell off. India 50 USD / SGX Nifty Index ended significantly lower, and we are likely to open with a gap down on Monday.
On the news front, the global markets are set to react to the US Fed Reserve decision slated to come in the middle of the coming week. Index heavyweights like Reliance, HDFC and Kotak Mahindra Bank will be coming up with their results during the week. Outcome of these events could possibly establish a trend (in either direction) which has been missing since last two weeks.
Can the Index rise past 17,500 and reclaim 18,000 again? (XABCD will be activated above 17500) Or will it break below 16,800 and see a steeper fall towards 16200 levels? (ABCD pattern will get activated on breakdown of 16800 levels). Join us for more real-time updates.
Pure Bearish form of NiftyHere I am mentioning 3 possibilities for Nifty 50.
Scenario 1: if Nifty breaks down to 16400 - 16300 to reverse, then it is an Inverse Head and Shoulders.
Scenario 2: Nifty May drop to 15500 around to form a double bottom on weekly and then reverse.
Scenario 3: This is worst of all, if nifty drops to 14200 then it confirms a Megaphone pattern.
Overall Nifty is in the corrective territory.
NIFTY just below 50days EMA. If 50 EMA broken expect more +ve As the NIFTY has closed just below 50 days EMA. Once the 50 days EMA is crossed. We can expect rally to continue. Ideal situation will be NIFTY opens gap up above the resistance.
Important resistance levels will be: 17254, 17423, 17666.
Important Support levels: 17074, 16960 and 16862.
Strong Closing of Nifty today but 50 EMA resistance ahead.Today Nifty had a solid closing where it rose 246.85 points and 1.46%. What lies ahead is an important resistance which can become an hindrance. That hindrance is 50 days EMA is at 17264. If that is able to cross this important resistance then further levels will be:
Resistance levels: 17384, 17607, 17858
If we are not able to cross 50 days EMA the support levels will be at : 17044, 16995, 16856.
Below 16850 closing Bears will take over the market once again.
Probable Bounce Back Zones For NiftyNifty can bounce back and make new all time high around 19K either from bounce zone F or bounce G.
Support and Resistance levels for Nifty will be as under:
Support - 16853, 16425 and below it Nifty can go to Mid or low 15Ks.
Resistance - 17042, 17264, 17660 and 17921 for now.
Nifty 50 Updates for next week April 24Continuing the analysis of Nifty50 as per the idea shared on April 19, the following are the events that unfolded.
1. Price reversed from the PRZ at 0.886 (17150) and found resistance at the confluence of the last swing high and the trend line coming from the top at 17300, triggering a late sell-off on April 19 - on the back of some news related to the Russia Ukraine war
2. The sell-off was so severe that Nifty50 breached 17000 and met the 1.13 PRZ at around 16870 levels in a flash
3. When everybody had turned bearish, the next day, April 20, saw a gap up opening above 17000, and the index posted a splendid recovery until 17500 levels on April 21, creating a highly bullish candle
4. At this point, Nifty50 had formed a half-bat pattern as shown - with 17500 as a powerful resistance level
5. When everybody was bullish because of the strong closing on April 21, the index surprised everyone with a gap down around 17240 levels - thanks to the half-bat pattern!
6. The day continued to be bearish, with Nifty closing around 17170 levels on the spot
7. During this same period, world markets have been bearish, with Dow falling almost 2000 points till the closing on Friday (April 22) and SGX nifty closed on Friday around 17000 levels after our market hours.
8. Coming into the last week of April, Nifty50 is posted around a critical range between 16800 and 17500. An ABCD pattern is visible from the point of rejection around 17500.
9. Now, coming to the possibilities for the week, these are the things that could happen
a. Nifty50 opens gap down on Monday per the global cues and breaches the 16800 levels - this will activate the ABCD and the probability of testing levels around 16230 opens up.
b. Nifty50 opens the gap down and regains 16800 levels forming a double bottom around these levels. In this scenario, two things can happen
i. Nifty50 goes sideways and trades in a range between 16800 and 17500 with high volatility
ii. Nifty50 gains momentum and breaks the 17500 barriers to become bullish and thus will form a ‘W’ pattern to scale 18000 in the May Series
10. Looking at the news flows over the weekend, things are very mixed - ICICI Bank has posted a good result, as Reliance - Future Retail deal off is not a good sign
11. Overall an exciting week ahead - we will keep you posted on how the views pan out as things evolve
nifty gap lets see how my idea works in this trades.. i draw trendlines but void by breakout lets see what happens
Nifty Intraday Update for 22th April 22Nifty 50 Index entered a second straight day of pullback on Thursday, rebounding 400+ points in two days. Strength in IT stocks along with heavyweights Reliance and the HDFC twins aided the up move. The Nifty50 has formed a long bull candle on the daily chart, confirming a bullish reversal pattern for the short term (follow up move after forming a ‘bullish harami’ – as highlighted in Thursday analysis). Will the pullback rally continue? We are currently in the correction phase of the down-move which started during April 2nd week and a half bat pattern is formed at 17450-17550 levels. This level is likely act as a strong resistance, because of the unfilled gap and we saw a strong down move when this level was broken on Monday. 17500-16800 is the wider consolidation range.
Intraday (45M TF)
Index gave a strong closing, breaking the trend line resistance which was holding the downtrend. XABCD patter was activated after the gap up. The pullback rally can continue only if price closes and sustains above 17420 (PDH). There is no much room for an up move, because of the PRZ and unfilled gap and 17550 levels is immediate target and we have multiple swing highs going up, which will act as resistance. 17250-17200 can act as an immediate support. lHowever, since SGX Nifty is trading significantly lower, we can see a gap down opening today. In case of gap down (Price opening below we will follow our 30 minutes range break-out strategy.
Nifty Intraday Update for 19th April 22Nifty 50 Index started the week on a negative note, in continuation of the prevailing correction phase. After a 280 points gap-down opening (slightly below the ABCD target of 17218) amid weak global cues and lower than expected results from heavyweights like Infosys and HDFC Bank, the Index continued to trade with a negative bias before recovering some of the losses towards the second half, taking a bounce from hourly support. The index is now back to the range of 17000-17450, where it was stuck for 2-3 weeks during last month.
The global cues as well as the outcome of Q4 earnings will continue to add volatility in the coming sessions. Hence, one should remain cautious during the intraday.
India 50 USD Index Analysis
Higher Time Frame (4H): The Index has formed a XABCD pattern and has given an indication of a correction of its downward impulse which started from 17920 levels, taking a bounce from its PRZ level. This level has acted as good support in previous instances as well during last month. A half-bat pattern is formed at 17500 levels which also happens to be the major previous swing high and is an important resistance. Price breaking and sustaining this level can give a good upward momentum, confirming the trend reversal.
Intraday
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Lower Time Frame (1H): Having identified a potential reversal in the higher time frame, we will now drill down into the lower time frame to identify more precise levels for intraday. The index has given a good closing, breaking the downward trendline resistance, and is likely to face its next resistance at 17340, and the day low of 17100 is expected to act as good support (PRZ Levels as per XABCD). We are likely to see a range-bound market if either of the levels is not broken.
Nifty 50 crash ⚠️ No its not a crash but it will touch its resistance then it will take some support the will be back to its normals
Macd and candle stick shows that
Hence :( stop loss is must and not good days for swings
Nifty trading within channel On 15 min chart nifty is trading within a down channel and facing resistance from upper end.
Breaking above 17700 will attract some fresh buying.
Nifty-08/04/2022-LevelsHello Traders,
Nifty-08/04/2022-Levels
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If Market Opens as a-
GAP-UP: Support of IMP (BUY) – Rejection of IMP (SELL)
FLAT: Support of IMP (BUY) – Rejection of PDL (SELL)
GAP-DOWN: Support of S@1 (BUY) – Rejection of PDL (SELL)
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Happy Learning and Trading
Rules to fallow...
1) Trade with Strict Stop Loss.
2) Trade with Small Quantity.
3) Take entries based on Support & Resistance Levels.
Please take the trade according to the levels marked, with Risk-Reward.
This is not a Buy or Sell recommendation to anyone.
Take entries after your own analysis.
This is for education purpose and a helping hand to learn trading in market.
NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level.
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SHORT FORM &FULL FORM
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PDH-> Previous Day High
PDL-> Previous Day Low
PWH-> Previous Week High
PWO-> Previous Week Open
PWC-> Previous Week Close
PWL-> Previous Week Low
IMP -> Important
R@1, R@2,R@3... ->Resistance-Zones
S@1, S@2,S@3... ->Support-Zones
M_S -> Major Support
S_H -> Swing-High
S_L -> Swing-Low
D_T -> Double Top
D_B -> Double Bottom
T_T -> Triple Top
T_B -> Triple Bottom
TF -> Time Frame
BO -> Break-Out
RR -> Risk-Reward
SL -> Stop-Loss
GAP -> The area b/w Previous Day Close and Today Open
Blue Color Text(S@*,R@*)-> Act as Major Support or Resistance-Zones(Be Alert, Chances to Market take Reversals )
NIFTY 50 Trend AnalysisScenario 1
The chart pattern looks like a descending broadening wedge which is a bullish continuation pattern.
I am expecting bottom to be around 15000-15300 levels if the above mentioned pattern plays out.
For more confluence to my idea, you can check volatility index and dollar index linked below.
VIX is at reversal point with bullish divergence in RSI and DXY was long posted but still following what I mentioned then.
Now it is about to break out of the bull flag and head higher. Both these will add more bearish pressure to stocks.
Death Cross is also likely to play out in couple of days, which is also highly bearish.
Scenario 2
If 16800 level will provide support then reverse H&S pattern will play out.
Scenario 2 is more likely because most of the stocks already bottomed out and will make higher low for bullish continuation.
Will see what happens.
Peace!!
Nifty : Daily AnalysisAfter yesterday's BIG move due to HDFC Twinc now Nifty need to be cool down to go more.
Currenlty, Nifty is trading in triangle patter. its verymuch imporatant for Nifty to corss yesterday's high and sustain. currently it is forming double top patter on 15 min time frame.
Down side 17900 is very much important support zone for Nifty. if nifty sustain and not cross it, we may see 18340 - 18500 and 19220 possible by April end.
If not sustain & break may go 17730
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
Bulls hit the 5th gear today, outlook for rest of the week.Bulls hit the 5th gear today, outlook for rest of the week now is as under:
Now 18115 is the resistance which was exactly the peak today. Crossing it the target will be 18263. In case of little bit of weakness or consolidation the supports for NIFTY are at 17951, 17796, 17709 and 17440 in a very unlikely circumstance.
NiftyHello & welcome to this analysis on NIFTY
After a few days of sideways consolidation Nifty appears to have completed its correction yesterday.
It faces resistance at 17380 / 17440 (going by current SGX Nifty its trading well above it) and then at 17650 / 17800. Failure to take out 17650-17800 zone could see long unwinding and selling pressure till 17000 or lower, whereas above that zone the trend line resistance near 18150 becomes a target.
17275 appears to be a strong support now for the settlement.
NIFTY Outlook for the coming week i.e. 4th to 8th April 2022.Market has shown immense strength this week closing at 17670 which is more than 3.02% from last week. Nifty is now headed strongly into a resistance zone and we might witness a clash between bulls and bears the coming week. The strong resistance zones will be 17709, 17819 and 17951. If Nifty has a massive continued bull run in less likely circumstances, it can reach 18030 and regain 18K+ levels in case the bulls have a field day or a week. However, this looks unlikely as of now. In case bears prevail the support levels will be near 17551, 17440, 17250 and 17008 in case the bears have a decent outing. FIIs are in buying mode and tailwinds look positive as of now unless we have some negative development in the weekend.
