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Niftyresistances

Trendline sending Nifty in consolidation mode. Trendline sending Nifty in consolidation mode for last few days. The positive thing is that Nifty is still holding above 50 hours EMA which we call Mother Line. The Mother line is at 24545 and the closing we got today is 24548. So Mother line still remains support. There is an additional support at 24500 too in addition to Father line which is 200 Hours EMA is also a very important support. Father line is at 24364. Below 24364 Nifty will become weak again and we can see it fall to the levels of 24100, 23907 and 23187. Resistances for Nifty remain at 24723, 24904, 25240 and finally 25514. 25514 will be a strong resistance. If we get a closing above 25514 Bulls have potential to grip the market very firmly and take it to previous highs if not new highs. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTYLong
by Happy_Candles_Investment
1
Good consolidation by Nifty. Getting ready for another jump?The positive close today and the movement inside the star is indicative of a small or medium jump before it takes another break for consolidation if Nifty can continue to hold ground and close above critical resistance of 24743. Crossing and closing above 24743 is very important for this to happen. If we get a closing above 24743 the next resistances will be at the levels of 24904, 25240 and 25514. 25514 region looks again like a strong resistance zone which will require another consolidation or strong Bullish momentum to cross that zone. If Nifty is not able to close above 24743 then the current rally can become weak or we can even see fizzling out of the same. In such a scenario the supports for Nifty will be at 24422 (50 EMA Strong Mother line support on daily candle chart), 24294 and 24100. Below 24100 there is a strong support zone between 23907 Star base support, 23648 (200 days EMA very strong Father line support on daily chart), 23187. (Which is a very very strong support as it has the star bottom coinciding with Channel bottom support.)(This seems to be the worst case scenario as of now in unlikely circumstances). If you want to learn more about charts, Candle stick analytics, Fundamental analysis, Mother and Father line importance, How to book profits, how to find a balance between Technical and fundamental analysis through Happy Candles Numbers, understand behavioural Finance and other interesting topics by learning which you can make your money work harder you should read my book THE HAPPY CANDLES WAY TO WEALTH CREATION which is available on Amazon in paperback and kindle version. E-version of the same is available on Google Play Books too. The link to purchase the book is available at the bottom of this page in the signature section. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTYLong
by Happy_Candles_Investment
Mother Line supported Nifty to bounce back from day's low. Nifty made a high of 24677 but then felt heat of the resistance and fell over 167 points until Mother Line supported Nifty to bounce back from day's low. Nifty closed flat to slightly negative at 24610. Closing -8.95 points in the negative. Closing above Mother line again is a positive sign with indices like Realty, IT, PSU Banks, Metal, Finance, MNC, FMCG, services ending in the positive. The laggard indices were PSE, Auto, Pharma, Consumption, Capital Goods, meida, infra and Energy. Nifty Supports remain at: 24584, 24501 (Mother line support of 50 Hours EMA), 24328 (Father Line support of 200 Hours EMA), 24172 (Mid channel support), 24005 and finally 23869 closing below which bears can take control of Nifty. Nifty Resistances remain at: 24641, 24693, 24759, 24858 and finally 24981 (Chanel top resistance) Above 24981 closing there can be another massive bullish breakout in Nifty. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty still consolidating after hitting the channel top. Nifty is in consolidation mode after making hitting the channel top last week. Nifty is also squeezing between support and resistance trend line with very less space remaining for maneuvering. Thus a big move on either side can be expected in a day or two. Positive movement continued in Mid and Small cap indices. The sectors that remained positive on Monday were IT, PSUs, Realty and Metals. The laggard sectors were Auto, Media, FMCG, PSU banks and Energy. The supports for Nifty are at: 24584, 24507, 24467 (Mother line support of hourly candle), 24307 (Father Line support of hourly candle), 24172 (Mid channel support) and finally 23869. Below 23869 the Nifty will become very weak. The Resistance for Nifty remain at: 24641, 24759, 24858 and finally 24961. (24961 will be the channel top resistance). Link to by my book on stock market investing is given in the signature section in this message below. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Mother Father and small child theory proven right again. The moves that we saw in Nifty today were volatile, insane, bullish. Bears tried their best to stem the rally but Bulls won big with Mother line on daily chart providing / confirming support and giving ashirwaad. The low for Nifty was 24295 the high was 24857. The candle moved violently between the 2 extreme points. Mother line gave proper support and pulled Nifty up again closing the day at 24708. Again proving that when Mother and Father line give support or ashirwad there can be no stopping. Support for Nifty remain at : 24385 (Strong Mother line support), 24295, 23936 and 23607 (Father line). Below 23607 Nifty can fall again in bear grip. Resistances for Nifty remain at : 24723, 24857, 25036 and 25212. Above 25212 Nifty will be totally in Bull grip. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTYLong
by Happy_Candles_Investment
Perfect Trendline and Mother-Father line Breakout by Nifty.Perfect Trendline and Mother-Father line Breakout by Nifty on daily chart. Now all that we need for a perfect Bullish reversal is a closing above 24540. Once we get the closing above 24540 the next resistance levels will be 24840 before we reach 25K+ levels or even 26K+ levels within few weeks time. Final frontier for Bulls as of now seems to be 24540. In case the level is not breached the support levels will be at 24367 and 23587 as of now that is the mother and father lines. This chart serves a perfect example of how parallel channel and Mother father and small child theory works. All we need is a confirmation candle above Mother line now and Bulls to breach tough resistance zone of 24540. Let us see. Very interesting week ahead. Closing this week will be very important. We need a closing above mother line in general and above 24540 in particular. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTYLong
by Happy_Candles_Investment
2 hurdles of Mother, Father line cleared, what next?Two major hurdles of Mother and Father line are cleared by Nifty. Now the major hurdle remaining is the trendline resistance at 24277. If we get a closing above this resistance Nifty can go to 24345. If and when we get a closing above 24345 Nifty will then be ready to fly and next stop can be near 24510 or even 24665. More Bullish levels await after we get a closing above 24665. These levels can be 24890, 25048 and 25277. If the trendline support at 24277 is not crossed for some reason the supports for Nifty to fall back on will be at the zone between 24097 and 24070. (24070 being the mother line of hourly chart and strong support). If 24070 is broken then the next supports will be at 23898, 23756, 23588 and finally 23292. Its looking bullish but two hurdles crossed two more (24277 and 24345) to go.
NSE:NIFTYLong
by Happy_Candles_Investment
Reverse H&S formation in 15 minute chart of Nifty on cards.Usually we do not look at chart with less than 1 hour candles but an interesting pattern is forming which can yield us a fresh bullish move in Nifty so I am presenting it today. If Nifty manages to stay above 24109 and can close above 24189 we can have a fresh bullish rally in Nifty which can see it pivot very fast as high as 24538. with resistances at 24270, 24348, 24423 and finally 24538. The important levels will be the support at 24109 and resistance at 24189. Other than 24109 (which is the mother lie for 15 minute chart) important supports will be at 24124, 24063, 24024 (which is father line of 15 minute chart). Below 24024 Nifty will become weak again and Bears can then drag it to 23962 or even 23874 again. Again the important levels to watch for the next week on resistance side will be 24189 and on support side will be 24109 and 24024 (Mother and Father lines on 15 minute chart). This is what we can read from ultra short term chart of Nifty on 15 minute candle. To know more about the Mother, Father and Small child theory, trend lines, supports and resistances read my book The Happy Candles Way to Wealth creation. In this book you will get to learn about Techno-Funda investment. Many reviewer who have read the book consider it as a hand book of investment. You can check the reviews on Amazon and google Play book. The book is available on amazon in Paperback and kindle version. E-version of the book also available on Google Play books too. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Resistance zone of Trendline Mother Line on stopping BullsOn the Daily candles chart of Nifty we can clearly see that Mother line and the trend line resistances are acting upon the Nifty and restricting it's further flight. Today we saw creation of another Doji like Monday. The Gap theory probably is also adding pressure on the Nifty. (Gap Theory is a very interesting subject about which we will sometimes do a special video.) Most of the gaps when a stock or index takes a leap should be filled in future as per the theory (in short). There was a gap up on Monday due to Maharashtra election results. In my opinion not all gaps are supposed to be filled there are some substantial gaps which never get filled. However we will do a webinar on this subject in future some day. Right now the major resistance zone is here for Bulls this zone starts from 24354 and ends at 24396. Nifty might need some consolidation or strong FII+DII buying to fly above this zone. If this zone is conquered further resistances will be at 24530, 24673, 24893 and 25253. Above 25253 there is pure Bull territory. Supports on the lower side are at 24135 major support (Higher Cradle of The Gap on Monday), 23948 (Lower cradle of the Gap), 23563 Major support from the 200 days EMA or the Father line, 23362 and finally 23254. Below 23254 we have a strong Bear territory. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation . Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Father Line not allowing Nifty but gap up support holding.Father line of 200 Hours EMA at 24212 has not yet allowed Nifty to fly freely up and above. today again like yesterday we got a closing below at 24194. Overall it was a flat day with positive movements mainly in IT, FMCG, media and Small Cap index. Once we get a closing above 24212 the next resistance will be at 24360, 24530, 24673 and 24893. After closing above 24893 Nifty has a chance to be in proper Bullish grip. Supports for Nifty on the lower side remain at 24135, 23948 and 23912 (Major Mother line Support of 50 Hours EMA). Below 23912 bears can drag Nifty to 23616, 23362 and finally 23250. Below 23250 Nifty can have a free fall into strong bearish territory. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Massive Gap-up on expected lines, Which way will Nifty go now?After Maharashtra results as expected Nifty gave a gap up opening and sustained above an important level to close the day but can the rally sustain or will it fizzle out. If Nifty can consolidate in the range and cross the important resistance of 24360 while holding the ground above 200 hours EMA of Father line at 24213 we can see a really very bullish rally in Nifty. The supports for Nifty remain at 24213, 24135, 23948 and finally 23821. Below 23821 which is the 50 Hours EMA or the Mother line the rally may Fizzle out and bears will again dominate the scene. Resistnace for Nifty remain at 24369 important trend line resistance, 24530, 24673 and 24893 before we gain 25K levels and we can move ahead. Above 25K we will be in a predominantly Bullish territory again. To know more about Mother and Father lines, trend lines and supports and resistances mentioned in the message and to find them on your own in addition to knowing more about Techno-Funda investing in a nutshell you can read my book The Happy Candles way to Wealth creation available on Kindle and Google Playbook in E-version and on Paperback edition on Amazon. It is one of the highest rated books in that category. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty might be turning corners if there is no further bad news.The medium term outlook of Nifty is that it might be turning corners if there is no further bad news on Global or Local front. RSI is also turning in the positive or bullish zone. 23251 which was the 50 Weeks EMA or the mother line was almost taken and Nifty took a support at exactly mid channel support. This level be the key going forward. In the monthly closing or thereafter if this support is broken then we might see a bear attack once again. In such a scenario next supports will be at 22825. If this support is broken the next supports will be at 21324, 20313 or even 19133 in case of a global catastrophe of some unexpected even from Ukraine / Russia / Iran / Israel front. As of now 23251 seems to be the bottom. The medium term resistances on the upper side remain at 24432, 25073, 25732 and 26152 before Nifty gains previous highs. Nifty channel top currently seems at 27100 levels. There will be a lot of consolidation and it will take a long time before we reach there (2 to 6 or more months). Difficult to predict exact time frame due to lot of uncertainties on the local and global front.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty chart explains Mother-Father & Small Child theory and RSICurrent Nifty daily chart explains Mother-Father & Small Child theory and RSI very well have a look. As we can see and explained in my previous articles in Smart Investment as well as my book, The Happy Candles Way to wealth creation available on Amazon in Paperback and kindle version. The book in E-version is also available on Google Play books. Every time and again Nifty for cooling down from the overbought zone, consolidation, finding support and finding bottom in case of a bear market looks towards taking blessing or ashirwad from mother regularly and father some times. Wherein we call 50 EMA the Mother, 200 EMA of the father and movement of the candle sticks as movement of a 3 year old kid who is moving in a garden. The theory has been explained in depth in my previous articles and books but what you read above is in a nutshell. This time as there were serious issues related to FIIs selling continuously, issues regarding inflation, consumption and domestic demand being weak we saw a steep correction in Nifty from its high. The global issues like escalating Iran Vs Israel tensions, US elections, Ukraine Vs Russia war again gaining momentum also played a spoilsport for bulls along with new episode of Adani saga. The correction might not be over we do not know for sure where the exact top and exact bottoms are but we can predict zones that can provide resistance and supports accurately. Mother and Father lines we consider major supports and well as major resistances. They are major and most important supports if price of the particular stock or index is above the lines and they will be major resistance if the price of the stock is below them. On Friday we got a strong closing above the 200 days EMA which means if we get a follow up bullish candle on Monday and index continues to sustain above 200 days EMA things can go North in favour of Bulls. If Bulls can manage to get a closing above 50 days EMA or mother line the rally can enter a very strong zone. Another noteworthy point is that Nifty also hit a near channel bottom support as well as RSI also hit an oversold zone. Thus getting a positive closing to next week and further extending the closing above Mother line will be very important going forward. Supports for Nifty remain at 23542(Strong Father line Support), 23259, 22801 and 22139. Resistances on the upper side are 23965, 24259, 24417 (Strong Mother line resistance) and 24909 before we again reach 25K+ levels. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTYLong
by Happy_Candles_Investment
Escalation in Russia, Ukraine war spoils the Nifty recovery Nifty was doing quiet well and had a strong momentum going forward. On the daily chart it had gone substantially above 200 days EMA (23541) and reached 23780. Three of things happened after that. 1) There was a massive escalation in Russia Ukraine war where Putin approved use of Nuclear weapons if required. At the same time news of Ukraine hitting Russia with ATACMS US made Long Range missile. (Bloomberg reports). This is a massive event with long global consequences. Which might be parting 'gift' from Biden to Trump. (Probably to create a difficult situation for incoming Trump). 2) Nifty hit 50 hours EMA or Mother line at 23770. As all who read my posts regularly, those who have watched my videos, taken training from me and Those who have read my Mother, Father and Small Child theory know the consequences of the same. The mother line acted on and pushed the Nifty down towards the doldrums again where it closed the day below (200 days EMA or Father line at 23541) at 23518. This is a massive jolt and only time can tell if Nifty can stage a recovery again on 21st November 2024, Thursday. As we have a holiday due to Maharashtra elections tomorrow. To know more about one of the most accurate Mother, Father and small child theory which makes your equity investment easy read my book The Happy Candles Way to Wealth creation available on Amazon in paperback edition. The same is available on Kidnle and Google Play book in E-Version. 3) Third possible thing was Bulls would not want to carry long positions with impending Maharashtra election results. The election is tough to predict with political mess in Maharashtra. Elections in India are anyway difficult to predict now a days. These reasons led to massive fall of 262 points. This fall can disharten the bulls as well making the upward recovery difficult again. Positive closing in Green is the only good thing that we can take forward from today's action. Supports for Nifty remain at 23350, 23110, 22796, 22499, 21890 and finally 21313. Below 22796 is a pure bear territory. Resistances for Nifty remain at 23629, 23770 (Major Mother line Resistance which blocked the up move today), Post that there will be Father line resistance of 200 Hours EMA at 24311. After 24311 closing or weekly closing bear can take a back seat and Bulls will have capacity to pull Nifty above 25012 or even 25351 and above. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty near Mid channel & 50 Weeks EMA (Mother Line) support. Nifty after closing below the 200 days EMA Father line on daily charts, may find support near 50 weeks EMA (Mother line of Weekly chart). The 50 weeks EMA is at 23233. Before reaching there today's low of 23350 will also be a support. If by chance both these levels are broken the mid channel support for Nifty seems to be at at 22800 zone. Below which the bears have potential to drag Nifty further down to 22500 or even below 22K levels. To know more about Parallel channels and how they work or my Mother Father small child theory you can read my book The Happy candles way to wealth creation. Available in Paperback or E-version on Amazon and Google Play book. Resistances for Nifty on the upper side are at 23658, 24122, 25012 and 25898. Above 25989 Nifty will aim to make a new all time high again as channel top currently seems to be near 27K. RSI is also suggesting that Nifty can make a substantial come back any time now. Bollinger band lower band width has been pierced today both in daily chart as well as weekly chart indicating that market is heavily oversold and short covering can lead to a moderate recovery or substantial recovery sooner than later. The signs of bottom formation are clear unless FIIs begin another round of aggressive selling. The selling by FII has been continuous but seems to have decreased in the last few sessions rising further hopes for recovery. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty at cross road of critical support. Nifty this week gave a closing at 23532 a fraction below 200 days EMA or Father line which was at 23542. It will be imperative for Nifty to close above it within next week for bulls to get out of jail. Closing above 23542 will not be enough as there are many more hurdles to cross for Nifty once it scrambles above 200 days EMA. If the Nifty is not able to cross above the 200 day's EMA by any chance next week the down side supports for Nifty will be at 23360, 23054 and 22819. Out of these 3 levels, 22819 is the most important support as it is the channel bottom support. This current channel in which Nifty is travelling initiates from May 22. Which means it is a pretty solid final support below which there can be a free fall into intense bear territory. In this case bears can drag Nifty further down to 21840 or 21264 levels. On the positive side the resistances for Nifty remain at 23864, 24265, 24565 (Major resistance 50 days EMA) followed by 24796 and 25436 levels. Above 25436 we can see a pure Bull Market again. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
30 Months Channel of Nifty suggesting Father line supportThe 30 month channel in which Nifty is travelling seems to suggest that we are near 3 critical support zones. We might see a bottom formation within this week or the next week beginning. Perhaps the pain of retail investors might end soon with chances of sectoral rotation. Let us have a look at medium to long term outlook. As we have indicated time and again Nifty comes to meet the father line and take ashirwaad of father once in a while this is that phase. Last time Nifty came to take father line support was in October 2023. It has been more than one year now and it was imperative for Nifty to meet the Father line. FIIs helped in the process by selling enmass. Three Major Supports for Nifty are: 1) 200 day EMA or Father line at 23542. 2) High before Lok Sabha Election Results 23352. 3) Parallel Channel Bottom near 22845. Either of these 3 levels can be the come back zones. Three Major Resistances for Nifty going forward will be: 1) 24040 Critical short term trend line resistance. 2) Major Mother line (50 days EMA) Resistance at 24608. 3) Shoulder of the Head and Shoulder Breakdown from where the free fall started 25436. 4) Other important resistances will be at 26277 (Previous All Time High) 5) Channel Top resistance will be in the zone of 27037 to 27705. To Know more about Parallel Channel and Mother, Father and Small Child theory mentioned in the above message. Do read my book (The Happy Candles Way to Wealth Creation) available in E-version on Google Play books and Kindle. Paperback Edition is available on Amazon.
NSE:NIFTY
by Happy_Candles_Investment
Downward parallel channel still governing NiftyThe downward channel still governing Nifty and crushing it at every giving opportunity through continuous selling pressure from mainly FIIs. However Bollinger Bands is starting to suggest that Nifty might be oversold. Supports for Nifty now remain near 23822, 23611, 23380 and 23197. Resistance for Nifty remains at 23968, 24088, 24167, 24388 and 24548. Every bounce so far has been utilised by FIIs to sell. DIIs however are on a continuous buying trail. This fall for long term investors with a horizon of 12 to 24 months can be utilized for wealth creation as Some of the large caps and Selective Mid and small caps are now started to reach mouth watering levels. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty is trapped between Mother line and trend line resistance. Nifty is trapped between Mother line and trend line resistance. The comeback that Nifty made from lows of the day was good. Today's low was 24004 from there the Nifty closed at 24141. The resistance on the way up for Nifty currently seem to be at 24221 (Mother line 50 Hours EMA), 24339, 24541, 24587 (Major Father line resistance 200 hours EMA) and 24700. Supports for Nifty remain at 24086, 24004 and finally 23816. 23816 is a major major support right now holding it from a major few hundred or even a thousand point fall. All is good till we do not get a closing below this point. Shadow of the candle right now looks neutral to positive. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Medium to Long Term Outlook. Nifty on a weekly chart seems to be in the consolidation mode. With important geopolitical events that happened around the globe and India Nifty is trying to find a firm footing from where it can launch ahead. The events like Ukraine and Russia conflict, Israel and Iran++ conflict, Indian election results, Haryana assembly elections, US elections proved very volatile for the market. Upcoming events like China stimulus package and Maharashtra Elections will also be key for the direction of Nifty while moving ahead. Best case Scenario for Nifty right now following the Parallel channel seems to be 27796 towards the mid and end of First quarter of 2025. (We would have to be a pure optimist to think it can reach close to 28K in the next 5/6 months but you never say never). Median Scenario can keep Nifty range bound and we might find it exactly in the zone that it is right now that is between 24K and 25K. Worst case scenario for Nifty seems to be between 20 and 21K as of now.(This is a less likely scenario but you never say never). Major Support Levels for Nifty are at: 23816, 23211(Major Support 50 Weeks EMA-Mother Line), 22711, 21813, 21343 and 20858 (Channel Bottom Support). Major Resistance levels for Nifty are : 24589, 25241, 25796, 26277, 27120 and 27796 (Channel Top Resistance). To learn more about Parallel Channels and Mother, Father and Small Child theory read my book. The Happy Candles Way to Wealth Creation Available on Amazon in paper back and Kindle version. The book is now available on Google Play books in E-version too. Disclaimer: The views are personal and request you not to take positions based on the above data. The chart and the levels given in the message are purely for the purpose of education.
NSE:NIFTY
by Happy_Candles_Investment
Nifty unable to break Hourly Channel top corrects. Nifty had reached channel top of the downward channel on hourly chart and was clearly not able to defeat it as evident in the chart and corrected wiping all the gains from yesterday's trump rally. Can it make one more effort to claim the channel top and defeat it is the question. Supports for Nifty remain at 24179, 24073 and 23816. Below 23816 the bears will feel empowered and can drag Nifty down to 23500 or 23200 levels. Resistances on the upper side remain at 24262 (Mother line resistance of 50 hours EMA), 24504, 24559 and finally father line of 200 Hour EMA at 24650. This will remain a volatile week with major shift in global policies and realignments, FED Rate decision and other Geopolitical events. Keep an eye on situation in the Middle East and Ukraine, Russia front. Positive news will have again empower bears and give another rally like Trump rally seen yesterday. Shadow of the candles is Neutral to negative again. Bond yield, Gold, Silver, Dollar index, Crude can remain volatile while NASDAQ and Dow are in the Optimistic curve. November month will in general will remain volatile and next one week will decide the fate of Indian markets. With FIIs still on selling side and DII on buying side looks like things will remain topsy turvy for Indian markets. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only and views are personal. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Most Global Markets Welcome Donald TrumpMarkets breathed a sigh of relief it seems on the victory of Donald Trump and rallied crossing important trend line hurdle. Now 2 important resistance remain to be conquered before Bulls can claim victory over bears. The next likely resistance levels that bulls will face will be at 24537 and Mother line resistance at 24748. (50 days EMA). Once that is crossed the next likely resistance will be at 25000 and 25217. Supports for Nifty on the lower side seem to be at 24333, 24170, 23816 and finally Father line at 23519 (200 days EMA). Below 23519 in unlikely circumstances the Nifty will fall again in Bear clutch and bear can potentially drag it down to 23201 or 22820. (currently this looks unlikely). Shadow of the candle right now is neutral to positive.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Analysis: How much more pain left? Where is the bottom?Nifty Analysis: 1) Today's low 23816 is very important level to watch. 2) Next support at 23502 (Father Line or 200 days EMA). 3) Final Major support near 23201(Trend line meeting point and 50 weeks EMA (Major Mother Line). 4) Closing below 23201 has potential to break the hell loose. 5) Resistance on the upside at 24145, 24320, 24506 and 24781 (50 days EMA-Mother Line). 6) Bulls can take control only after we get a closing above 24781. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment