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...
Nifty found rejection again from the same resistance zone described in Yesterday's idea linked to this message. Nifty Now rests near important support zone consisting of a trendline support, mid channel support and 200 hours EMA support the father line. All these are in the range between 21669 and 21600. Closing below 21600 has potential to awake the bears and...
Nifty RSI cooled rapidly and the index currently is exactly at Mid-channel support line. This line can act as a support but incase we do not get a green candle to start the day tomorrow the next support for Nifty will be near 21368 strong support followed by 21295 and 21237. If 21237 is broken Nifty can fall further to 21155, 21117 or even 21082. If some negative...
Head and Shoulder like Pattern in formed in Nifty. Currently Nifty looks like overbought. RSI is also above 80 and it feels like Euphoria Phase of Bull-run is activated. For how long the continuous bull run can persist is difficult to say as market can remain irrational more than investors can remain rational. To have a sustainable growth a little bit of...
last week we identified the zone between 19816 and 19877 as the critical résistance zone. This is exactly the zone which has stopped Nifty from growing further and going further the full week. For our march towards 20K+ levels closing above 19877 is very important. Last weeks estimations were based on hourly chart of Nifty. This week in the daily chart you can see...
The market was crumbling under the pressure of crisis in the Middle East since last few days but the news of US FED Pause in the rate hike can give the Market, a much needed Booster dose. The things can turn positive from here because of the news mentioned above as well has market respecting the support zone between 18985 to 18839 zone. Last 2 to 3 days have seen...
Nifty made an immense come back to post the knee-jerk reaction to the crisis brewing in the Middle East. A follow up candle tomorrow to confirm the grip of bulls will be required however for the bull run to continue. The resistances on the upper side for spot Nifty will be at 19721, 19817 and 19894. Supports for Nifty on the lower side will be at 19474 (Strong...
Market is indecisive but bias seems to be positive to neutral. If the support near 19483 will be broken the Nifty can further fall towards 19227, 18905 or 18531 levels. Resistances on the upper side for Nifty remain at 19795 and 20000. Nifty took a support on Friday at the trendline and bounced handsomely above 19600 which is a good sign. Now sustaining above the...
Nifty is taking support at the 50 days EMA and trying to stage recovery from there but 19440 to 19520 is a resistance zone which it is finding difficult to clear. If and when that resistance zone is cleared the next resistance zone is near 19631 and 19786. In case the Nifty breaks 50 EMA and parallel channel bottom support the bears will feel empowered and they...
Another attempt by Nifty today to break the channel top was unsuccessful. Nifty made a high of 19634 which was channel top and from there we saw pressure build and resistance work. The resistance pushed Nifty downwards and the support of 19533 was activated and it worked well. Nifty staged mini recovery from that level and closed the day at 19570, which is just...
Very Important Fibonacci resistance level 19448 approaching in Nifty. If Nifty can sustain above it above 19450 the doors will open for next Fibonacci level of 20162. I dare say Nifty needs some consolidation and RSI needs some cooling down before the next big leap. RSI is right now 74.85 and as soon as it touches 80, Nifty will enter Overbought zone if already it...
Gap-up above Mid-Channel line & sustaining above it is a big positive which most probably will take is to the channel top or near the channel top. Right now the resistances in front of NIFTY are at 18728 and 18778. Supports for Nifty are now same Mid-Channel line 18639, 18555 and 18465. Things look Bullish, positive and vibrant as of now...Looks like Nifty will...
Due to Good Closing on Friday, positive to start the new week can be expected. We might have a positive gap up start on Friday if there is no negative news on the global or local level during the weekend. The resistances to look forward to are 18600, 18662 and finally 18742. Long term targets are 18887 and 19200+ levels. Supports at the same time remain at 18488,...
Nifty Not sustaining above mid channel support not a good omen for the Bull run. Somehow Nifty has to make a comeback in next 2 or maximum 3 days and sustain above Mid channel line which is around 18413 mark. Right now Nifty als faced a trend line resistance which emancipates from previous top. The zone was too hot for Nifty to handle and it leaped back towards...
NIFTY is approximately 3% away from the top. Question on minds of most investors is: When will Nifty make a new high by crossing this Crossing this 3% hurdle. Crossing this 3% hurdle will not be easy in my opinion, unless all FII, DII and Retail investors participate in the ongoing rally. Rally has hit the resistance zone now. It was a good week but going ahead...
Market Outlook: Nifty is on a roll and taking all the negative news under it’s wings and rising like a phoenix. The Mother of all bi-monthly economic events FOMC meet and decision on US Federal Reserve rate hike/Pause and US Fed chief Powell’s comments about the future rate decisions awaits to test its resolve. A positive looking Reverse Head & Shoulder like...
Look at the yellow circle. The blue line is exactly where the Nifty stopped. That is a strong resistance crossing this resistance we may face next resistance at 17863. Supports on the lower side are the same are 17552 and 17532. If 17532 is broken we may see the levels of 17467 and 17198. For Now everything looks good. Above 17863 we will see resistance near 18092...
Nifty has reached the zone where the strength of current rally will be tested. The zone between 17700 and 17797 will be strong resistance zones for Nifty. Only if the rally has genuine strength it can cross this zone. If this resistance zone is crossed the next resistances will be at 17923, 18038 and 18137. Supports for Nifty remain at the levels of 17597, 17533,...