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Niftyresistances

Market Outlook: Israel and Iran Conflict continues to haunt. After taking a drastic beating due to Israel and Iran conflict Nifty today has taken a support near Mother line (50 EMA). There is also a trend line support at the same place. If there is no bad news in next one or two days we might see a reversal in Nifty in favor of Bulls. In case there is some more bad news we may see bears tightening the grip over the market. Right now main factors driving the market are global. One in global inflation and commodity prices (Specially metals/ Precious metals and crude oil) and Israel and Iran conflict. Local factors are firmly looking good and no changes seen. If there is a full scale war the imp act will be Global and no market will remain insulated from the same. But India because of local factors and neutral stance (which might be challenged as well) will be the first or the fastest to bounce back. Supports for Nifty are at 22113, 21722, 21145 and finally 20767. Resistances for Nifty will be at 22214, 22306, 22421 and 22513. Disclaimer: The Purpose of this analysis is purely for Education. Any decision to invest in shares of F&O should not be taken based on it. This is just to show you how technical analysis works.
NSE:NIFTY
by Happy_Candles_Investment
Market Outlook:Market Outlook: The factors related to Israel and Iran Conflict will e the leading cause for market and moves rather than other local or Techincal factors for the next few days it seems. However the Support and Resistance levels seem to be as under. Nifty Resistance: In case there is some positive news of tension related to conflict decreasing will be at 22424, 22534 and 22620. Nifty Supports: In case there is further escalation in conflict which looks more likely will be at 22622, 22112(Major support from where Nifty can bounce), 22008, 21711.3. If 21711.3 is broken we can see the levels of 21149 or even 20753. Shadow of the candle is negative and anyway Global factors specially Iran and Israel will be decisive force driving the Nifty for next few days it seems.
NSE:NIFTYShort
by Happy_Candles_Investment
Nifty broke a major support and is near a crucial support. As depicted in the last message. Nifty was near a crucial resistance zone which is between 22770 and 22808. Nifty fell sharply from these levels triggred by possibility of a major 3rd World War like crisis due to Iran and Israel conflict. Now Nifty is below a major resistance that is 22567 and just above a major support level near 22511. Any further escalation in war has potential to make Nifty plunge into a nose dive towards 22416 or 22309 levels. If 22303 levels are broken Nifty can further fall quickly towards 22K levels or below. However if there is de-escalation we can see a relief rally in Nifty with resistances at 22567, 22622 and 22689 levels. In case of Nifty rising this week again 22770 to 22808 zone will be a very nasty resistance to cross. Shadow of the candle is neutral as of now and anything can happen due to global factors. Local factors are in favour of investors and fall if any can be used to invest and bottom fish.
NSE:NIFTY
by Happy_Candles_Investment
Again Nifty reaches a difficult resistance Zone. Again Nifty has reached a difficult resistance zone which is between 22773 and 22808. This is a difficult zone to cross as it has a fibonacci resistance as will as the ATH Resistance. If we get a gap up opening and a nice sustenance there after above this resistance it can resolve the problem of the resistance band. In this case further resistances will be in the range of 22898 and 23018. In case the zone acts as a difficult zone to conquer the supports for Nifty will be near 22622, 22561 and 22422. Shadow of the candle is neutral but momentum is positive so it will be an interesting day Bulls and Bears both will try to snatch the initiative. Also weekly closing has potential to keep things more interesting.
NSE:NIFTYLong
by Happy_Candles_Investment
Profit Booking seen after Nifty makes new high. Nifty in the early morning trade made a high of 22768.4 thereafter there was profit booking seen as expected post most highs. While receding the Nifty has taken support at 22622 and closed the day at 22642.75. These 2 levels will be important levels going forward. In case of further continuation of bull rally if we get a closing above 22769 the New targets or resistance zone for Nifty will be zone between 22769 to 22808. Closing above 22808 will open the doors for 22898 and 23000+ targets. In case the resistance zone between 22769 and 22808 is too tough to cross the support zone will be 22622, 22509, 22422, 22309 and finally 22250. Below 22250 Nifty becomes weak and Bears will try to snatch the control. Shadow of the candle right now is neutral today.
NSE:NIFTYLong
by Happy_Candles_Investment
Closing above 22629 has ensured it is a cup and handle BO. Closing above 22629 has ensured it is a cup and handle Break Out for Nifty. Now the only major hurdle remaining between another leg of bull run and consolidation is the resistance at 22701. Once 22701 is crossed next targets for Nifty will be 22803(Major Resistance), 22910, 23047 and 23220. If the breakout fails and Nifty is not able to cross 22701 swiftly the support levels will be at 22619, 22536, 22454 and finally 22219. Bears will awaken from coma only after we get a closing below this level till that time enjoy the bull run. Perhaps some consolidation might also be seen before some further progress in unlikely circumstances. Right now it is a one horse race for bulls and shadow of the candle is positive.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty can scale further highs if it sustains above previous ATH.Nifty bounced back but pretty well after confirming a near term bottom around 21710. right now facing mid-channel resistance. Daily closing firmly above 50 days EMA is another positive sign. Right now Nifty will face or is facing mid channel resistance which is near Friday's high of 22180. Nifty next week crossing and closing above 22180 will ensure that Nifty has closed not only above mid channel resistance but also trend line resistance which is in the same range. This dual resistance can be little stiff to cross. If it is crossed and held, next resistances will be at 22301, 22449 and finally 22526. In case the hurdle of Mid-channel resistance is not crossed the support levels for Nifty will be at 21877 (50 days EMA), 21710 and finally 21544. Shadow of the candle is neutral with positive bias indicating consolidation in the range or a further up move.
NSE:NIFTYLong
by Happy_Candles_Investment
Chart says JUST DO IT...Last year after the Ukraine was there was such a panic in the market. People were selling their precious shares at whatever price they could not expecting an adverse event or a fall is an adverse event in itself. In stock market there will be ups and there will be downs...Become a long term investor in Equity. Even the chart today says JUST DO IT as Nifty touches All Time high of 22619. At this juncture there is a very strong trend line resistance from where there was a drastic fall. The support levels indicated in earlier messages / posts were tested as the Nifty again jumped after taking the support near 22303. Nifty ended the day again finding itself trapped at 22514.65 which is a strong resistance zone indicated since many days between 22500 and 22530. Once Nifty gives a closing above this zone there will be strong bullish moves across the sectors. Until then Nifty Supports will be at: 22470, 22417, 22350 and finally 22164. Nifty Resistances will be at: 22520 to 22530, 22587, 22636, 22690, 22787 and 22830. In the long run investing in fundamentally strong stocks that are giving a technical is a great idea. So... JUST DO IT .
NSE:NIFTYLong
by Happy_Candles_Investment
Again the same resistance stopping Nifty from Progressing. Again Nifty is facing the same resistance as we have seen for the last 2 days as Nifty returned from the day's high of 22521. However the support came from the expected level mentioned yesterday i.e.22346. Most important turning point on either side can be US FED Chair Jerome H. Powell speech about Economic Outlook. (At the Stanford Business, Government, and Society Forum, Stanford, California). This will give definitive direction to global and Indian markets or atleast it will have a strong effect if not give direction. The support and Resistance remain same as yesterday. Nifty Supports: 22417, 22350, 22315, 22252 and finally 22143. Nifty Resistances: Range between 22500 and 22530, 22597, 22690, 22787 and channel top will be near 22830.
NSE:NIFTY
by Happy_Candles_Investment
As Depicted Yesterday Nifty is facing a resistance zone.As mentioned yesterday Nifty is getting trapped in a mild resistance zone after making a new ATH near 22529. This resistance zone is between 22477 and 22529. It looks like Nifty needs a little bit more consolidation to cross this zone. If this zone is crossed the next resistances for Nifty will be near 22597, 22690 and 22787. Supports for Nifty remain at 22388 and 22350. The zone between 22300 and 22252 will be a strong support zone in case of a fall with Mother line support of 50 EMA at 22268 (Strong Support). Very interestingly poised is nifty with shadow of a candle little bit on the negative side.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty in a mild resistance zone after making a new ATH. Nifty in a mild resistance zone after making a new ATH. After making a new ATH at 22529.95. As it did not close successfully above the previous all time high that is 22526 it has become a mild resistance. Momentum is good for it to make a new ATH tomorrow but the resistance may act again if it is not a gap up opening above the same level. In case of Nifty not able to cross and close above the hurdle the supports will be at 22434 and 22350. 22214 to 22252 is a strong support zone as of now. Resistance zone will be 22500 to 22529. If that resistance is successfully taken down the next resistance will be near 22597, 22690 and finally 22787. Shadow of the candle is looking neutral but the momentum can be helpful.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Looking Strong But final few hurdles before making an ATH.Nifty looking strong and my rise riding on the current momentum wave but the hurdles it needs to cross (The Resistances in the way) are 22350, 22449, 22526. The New high that Nifty can make in the current bull run can be in the range of 22597, 22690, 22787 or higher. In case some of the resistance does not allow Nifty to progress further the supports for Nifty will be at 22252, 22132 and 22070. Momentum is looking good and the shadow of the candle is Positive but there can be selling pressure on FIIs and some DIIs as the election time comes near and near. Also Fresh financial year can bring fresh strategy for FII, HNIs and DIIs.
NSE:NIFTYLong
by Happy_Candles_Investment
First hurdle 22080 crossed; Second hurdle around 22180-22200.We had depicted 22080 and 22180 as 2 hurdles for Nifty crossing which there can be a bullish rally. first hurdle was crossed today ut Second hurdle in the range of 22180 and 22200 remains. Today Nifty made a high of 22193 and returned from the same area due to the resistance zone indicated earlier. Crossing and closing the week above 22200 tomorrow will increase the chances of Bulls getting into rally mode. If the resistance in the region is not crossed and Nifty does not cross and close above today's high, there are chances that some supports will be tested again. Nifty Supports Remain at: 22080, 21852, 21806 and finally 21710. Below 21710 Bears will get a firm grip of the market. Nifty Resistances: 22193 (today's high), 22301, 22449 and finally 22526.
NSE:NIFTYLong
by Happy_Candles_Investment
Trend line and deep resistance zone blocking Nifty progressThe resistance zone between 22081 and 22180 is blocking Nifty progress currently. Once Nifty closes above 22180 bulls can call shots in the market and take it further. After crossing and closing above 22180 further resistances will be near 22301, 22449 and 22526. On the lower side supports for Nifty are near 21882, 21710 and 21544. Nifty is interestingly placed for rest of the week. Shadow of the candle right now is neutral.
NSE:NIFTY
by Happy_Candles_Investment
Nifty bounced back but right now facing mid-channel resistance.Nifty bounced back but pretty well after confirming a near term bottom around 21710. right now facing mid-channel resistance. Daily closing firmly above 50 days EMA is another positive sign. Right now Nifty will face or is facing mid channel resistance which is near Friday's high of 22180. Nifty next week crossing and closing above 22180 will ensure that Nifty has closed not only above mid channel resistance but also trend line resistance which is in the same range. This dual resistance can be little stiff to cross. If it is crossed and held, next resistances will be at 22301, 22449 and finally 22526. In case the hurdle of Mid-channel resistance is not crossed the support levels for Nifty will be at 21877 (50 days EMA), 21710 and finally 21544. Shadow of the candle is neutral with positive bias indicating consolidation in the range or a further up move.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Entering a Resistance zone after a making a good comeback.After making a low of 21710 yesterday has made a good comeback in one and a half session closing the day at 22011. Now Nifty is staring into a strong resistance zone. The resistance zone starts from the high of today. i.e. 22080 and ends at 22206. This zone consists of trend line resistance and mid channel resistance as well. Closing this week above 22206 will send a strong signal to the buyers who might return enmass post crossing this level. The next resistances after crossing 22206 will be near 22301, 22449 and 22526. On the lower side if these resistances act too strongly Nifty has a support at 22080, 21868 (50 days EMA) or mother line support, and 21710 which was the recent low. Below 21710 closing if at all it happens there can be further blood bath.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty took a trend line support while trying to form a bottom.Nifty took a trend line support at 21710 while trying to form a bottom. If the bottom is confirmed tomorrow and we get a few positive candles while closing the day or week above 22042 some bullishness can return to the market. In case the level of 21710 is broken the next support level is near 21524. In case we get a closing this week above 22042. Further resistance levels will be seen at 22204, 22299 and 22454. Shadow of the candle for tomorrow looks firmly positive as of now.
NSE:NIFTYLong
by Happy_Candles_Investment
Double Bottom Kind of structure is forming in Nifty. Double Bottom Kind of structure is forming in Nifty but still it is delicately placed. If the levels of 22037 and 21912 are held which are a support zone and if the resistance zone of 50 and 200 Hours EMA which are at 22072 and 22144 are broken on the upper side we can see strength. Thus the support Zones for Nifty are at: 22037 and 21912. Below 21912 bears will strengthen their grip. The Strong Resistance Zones that Nifty needs to cross for Bulls to start taking control is the zone between 22072 and 22144. Other Resistances if this zone is crossed will be at : 22206, 22301, 22361, 22445 and finally 22525.
NSE:NIFTYLong
by Happy_Candles_Investment
Good Fightback by bulls but need a confirmation candle tomorrow.We saw a good fightback by Bulls today as the Nifty bounced back from just close to 50 days EMA but to ensure that this was the temporary bottom we need a confirmation candle to close the week. The Resistance for Nifty will remain at 22204 and 22311 followed by 22500 range. Supports for Nifty will remain at 21851, 21779 and 21614. Below 21614 again the bears will take over. Shadow of the candle today is very dull but slightly positive however as it is a weekly closing candle due to Friday bears will also try to close the Nifty in their favour. Nifty is again interestingly poised.
NSE:NIFTYLong
by Happy_Candles_Investment
Probable Support Zone For Nifty approaching. The Zone between 21905 and 21779 can be a support Zone for Nifty as it tried to make a recovery from the area near 50 days EMA which was near 21839. If by chance 21779 is broken the next supports for Nifty will be only in the region of 21614, 21284 or even 20971. Worst case scenario can be 20412 which is a 200 days EMA and the channel bottom. So further steep downside is possible if Nifty does not bounce from today's low that is 21905, 21839 (Mother line 50 day's EMA) or 21779. On the upper side in case of resurgence of Nifty next resistances can be near 22132, 22311 and 22511. It looks like recovery above 22511 will take some consolidation. Even if Nifty resurges which it will in a few days/weeks time Small and Mid cap sectow will go through a long consolidation phase. This phase will give an oppertunity to do some proper bottom fishing in these indices for the long term. In the short to medium term the index that will get the preference will be Large Cap index.
NSE:NIFTY
by Happy_Candles_Investment
Head and Shoulders kind of pattern formed on Nifty hourly chart.Head and Shoulders kind of pattern formed on Nifty hourly chart which is not a very good indication for rest of the week. Only saving grace which can support Nifty in this scenario is a trend line and Mid-Channel support which are in the zone of 22302 and 22255. If 22255 is broken and we get a closing below it tomorrow or the day after H&S Break down will be confirmed and further down side can not be ruled out. In such a scenario Nifty might have support near 22129, 22077 (200 Hours EMA) and finally 22018. If by chance 22018 is broken on closing we might see further down side upto 21800 which seems to be the channel bottom. If H&S is not confirmed tomorrow or the day after and we receive good inflation data from upcoming India and US inflation data the resistances on the upper side will be at 22344, 22410, 22462 and finally 22523. Nifty is delicately placed near mid channel and trend line support. Very interesting week ahead. Flavour of the week, month or the quarter is going to be Large Cap stocks.
NSE:NIFTY
by Happy_Candles_Investment
1
Weak Closing by Nifty but Mid-channel support approchingNifty gave a weak closing today below 50 EMA (Mother Line). Which indicates that there can be more downside. However there will be support provided by the Mid-Channel support which is near 22263. If this support is broken further supports might be near 22129 (Trend line Support) or Father Line 200 Hours EMA near 22057. Resistances on the upper side for Nifty will be 50 Hours EMA 22337, 22410 and 22462. Shadow of the candles today looks negative today.
NSE:NIFTY
by Happy_Candles_Investment