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Niftyresistances

Mid Channel Resistance stopped Positive looking NiftyMid channel resistance acted on positive looking Nifty and levels above 19230 could not sustain. Closing below Mid channel resistance is not a good sign. If Nifty had closed above 19230 we would have seen a sharp rise. Now we are looking at an important support level of 19033. If Nifty can give a closing above 19033 tomorrow it will be considered a positive signal again. If Nifty is not able to sustain above 19033 then again the recent low of 18837 will be tested. If 18837 is not held in the coming week we may see a dip again upto 18489 levels. (Looks little unlikely but you can never be sure with the global tensions going on). Resistances on the upper side will be 19124 and 19230. Above 19230 the next resistance will be near 19492.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Weekly Outlook. As expected Nifty took support from 200 days EMA (Father Line) and jumped 190 points. We are not out of woods yet as the resistance levels in front of us now are 19097, 19366 and 19524 (Major resistance). Supports for Nifty are near 18832 and 18557. Falling below 18557 Nifty can crash further to 18333 levels. It is important for Nifty now to give a confirmation reversal candle on Monday. If we get a Green confirmation candle on Monday we can finally say that Nifty has bottomed out of the Middle East crisis. So Monday and Tuesday closing will be important for further recovery.
NSE:NIFTYLong
by Happy_Candles_Investment
Recovery from the big jolt on Monday expected but slowly.As depicted during the weekend a fall was expected. Now recovery from the big jolt on Monday expected but slowly. The supports will be tested again and the recovery might not be as smooth as expected by many investors. As you might have seen FIIs and DIIs were net buyers in the current fall then why the market crashed? Mostly it was due to rush of retail investors who were holding the market. The knee jerk reaction to the Middle East crisis was there to be seen in the market and difficult times might not be over as chances of further escalation is a clear and present danger. Supports For Nifty: 19213, 19029, 18867 and 18826. Resistances For Nifty: 19331, 19477 and 19684.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Showing signs of Weakness. Nifty is showing signs of weakness major factor being crisis in the Middle East. Few supports on the down side will be tested in the coming week. If the Nifty can take support at any of the support levels given below only then there will be chance of recovery by end of next week or by end of the month. Supports For Nifty: 19489 (Weak support), 19328, 19029 (Strong support), 18822 (Very strong support). Resistances for Nifty: 19602 (Strong Resistance), 19684, 19845.
NSE:NIFTYShort
by Happy_Candles_Investment
The support that Nifty took today will be tested. Nifty took a decisive support today and bounced back closing above 50 days EMA which shows strength in the market, however the support taken by Nifty yesterday 19512 might be tested again today. If that support hold then we may see a positive up move on today or in the coming week. Nifty will remain under pressure throughout the day. situation remains grim due to Middle East crisis. Auto sector looks positive and Chemical sector seems to be forming a bottom. Nifty Supports: 19511 and 19357. Nifty Resistance:19690 and 19898.
NSE:NIFTY
by Happy_Candles_Investment
Middle East Crisis send shivers down investor's spines. Middle East Crisis send shivers down investor's spines. Things are not looking that great as Nifty will probably look for further support levels. It will be a surprise if spot Nifty hold ground and closes above 50 days EMA (Mother line) that is 19604. If 19604 is broken further supports for Nifty can be found at the levels of 19357. Resistance on the upper side will be at 19878. Let us see where Nifty can hold 19357 by end of this week. Only saving grace is DIIs are buying and buying big since last few days against FII selling.
NSE:NIFTYShort
by Happy_Candles_Investment
Nifty Looking forward with strong positive biasNifty looking strong and holding above the strong support of 19770 can be good positive other supports for spot Nifty are at 19731, 19680 and 19634. Major support closing below which the positive trend can change is 19481. Crossing and closing above 19856 will unleash more upside to Nifty and take it towards 19942, 20053 and finally 20219. Things are looking strong as of now it the level of 19770. The only catch and red flag being further escalation in Middle East crisis and Third of Fourth party joining the ongoing conflict.
NSE:NIFTYLong
by Happy_Candles_Investment
Reverse Head and Shoulder pattern forming in Nifty (Positive)On a closer look at the Nifty hourly chart and smart recovery from the lows of the day, it seems that Nifty is forming a 'Reverse Head and Shoulder' pattern. This is very effective and very positive pattern. This pattern will come into effect if we get a daily closing above 19851 or thereabouts. The supports on the lower side for Nifty will be at 19712, 19600 and 19481. Resistances on the upper side are at 19851, 19891, 19942 and 20009.
NSE:NIFTYLong
by Happy_Candles_Investment
19831 proved as resistance as depicted yesterday. Read Yesterday's idea and look what was said about 19831. Look at the chart and see what 19831 did. Yesterday the resistance level was given 19831 look what happened today. Look at the specific area in the circle. That ladies and Gentlemen is power of Technical analysis. All the other resistance and support levels remain the same. As we could not cross the resistance today we might start negatively or very negatively and Nifty might stage a recovery later in the day or couple of days. 19690, 19663 or 19622 can prove to be important supports.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Looking Strong and rampaging ahead.Nifty is touch wood crossing resistance after resistance and rampaging ahead as if these resistances where mere matter of small hurdles to cross. The next major resistance for Nifty is just around the corner at 19831 which it might again try to cover by opening gap up tomorrow. If not gap up it will take some doing to cross 19831 and 19994. As they are strong resistances. Support for Spot Nifty on the lower side remain at 19722 and 19572.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty can bounce from Support. Nifty can bounce from Support if it can sustain above the levels of Friday high. That is 19799 tomorrow or in the coming week. In this case the resistances on the upper side will be 19921, 19991, 20038 and finally 20176. Supports for Nifty on the lower side remain at 19502 and 19208 on the daily chart. The momentum it gained on Friday should continue on Tuesday otherwise the Nifty will remain side ways for a few days. Crossing and closing above 19799 levels is crucial for fresh leg of rally to start in Nifty .
NSEIX:NIFTY1!Long
by Happy_Candles_Investment
Mother Line 50 EMA gave a great support to Nifty today. 50 EMA which is the Mother line gave a perfect and much required support to Nifty today. Proving again our Mother, Father and Small child story. Now tomorrow and and Friday the Nifty has to close above it to continue the upward trend. Resistances that Nifty will face on the upper side remain at 19747, 19851 and 19991. Supports for Nifty on the lower side are 19560 (50 EMA/Mother Line) and 19224. We are still not out of woods if we do not get 1 or 2 confirmation candles.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Took Support At 50 Days EMA. (Positive Sign). Nifty Took Support At 50 Days EMA which is a Positive Sign. If the support is not broken in the remainder of the week, seeds of a fresh rally and end of weakness will be sown. For this to happen Nifty not breaking the 50 days EMA is very important. Resistances on the upper side will be at 19735, 19851 and 19991. Supports for Nifty at the lower level are at 19549, 19435 and 19224. Below 19224 the bears will overtake the market.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty took support at a very important level today. Nifty took support at a very important support zone. The level being at 19709 to 19694. 19709 was today's law. If the support zone is broken the next support levels are at 19538 and 19224. If 19224 is broken we may see bears take a total control. Major support after 19224 will be near 19050 and 18900 and finally 18638. (Very unlikely that we reach there). The resistances on the upper side are at 19848, 19991 and finally 20203.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty again at a brittle Trendline support. Nifty again is at a very brittle Trendline support. Today's low of 19878 to 19890 remains the most important support for Nifty as RSI on hourly chart shown Nifty as over sold. It is very important for Nifty to recover from here. If this support is broken the next important supports for Nifty at lower levels are at 19796, 19696 and 19554 to 19530. If 19530 is broken the next most important support level will be near 19263. Below this level there is a chance that bears will be in total control. Resistances on the upper side for Nifty are at 19990 and 20057.
NSE:NIFTY
by Happy_Candles_Investment
Nifty at important support level now.Nifty is just above a very important support zone now. This support is between 20104 and 20008. Closing below 20008 can weaken the grip of Bulls. In this case the Nifty can further fall to the support levels of 19886 or even 19679. Resistances on the upper side for Nifty are near 20229 (Major resistance). If we look carefully a rounding top is forming near 20229. Which can mark end of a bull phase too. But if we get a closing above 20229 the doors will open for the targets of 20354, 20447 and finally 20559.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Near Major Resistance.Nifty is near the major resistance zone of 20200 and 20230. It returned from the resistance on Friday. Little bit of correction and consolidation is due. Selective Small and Mid cap stocks along with few Large caps can continue to be bullish. If the strong resistance between 20200 and 20230 is broken and we get a closing above 20230 the next targets will be 20354 and 20477. In case of correction the support will be provided by support zones of 20104, 19991, 19886 and 19696. Below 19696 final support zone will be between 19490 and 19227. The trend changes to negative only below 18599.
NSE:NIFTY
by Happy_Candles_Investment
Doji of indecision starting to form. With RSI at 74.3 there is a Doji formed after yet again Nifty making new record high of 20167. Nifty closed at 20103 indicating too much heat / resistance in the range of 20167 and 20200. If we close above 20200 the next target will be 20291. Supports for Nifty at the lower side will be near 20043 and 19911. Closing below 19911 can drag the Nifty to 19720 levels. Nifty may start positively but later in the day or next week there can be profit booking pressure as RSI will inch closer to 80 and above.
NSE:NIFTY
by Happy_Candles_Investment