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Niftyspot

Strong comeback by Nifty indicating temporary bottom formation.Nifty today came back strongly after taking support from Father line of 200 EMA and trendline. The support of Father line will be confirmed if we get a positive and strong closing tomorrow. The supports as of now for Nifty remain at 24790 and 24753 (Today's low and trend line support). If by chance FED will not announce a big rate cut, Nifty may again go support searching. If 24753 is broken the next support will be only at channel bottom near 24527. Shadow of the candles as of now remains positive and resistances for the Nifty is in the zone between 25005 and 25033 (Mother line 50 Hour's EMA). If we get a closing above 25033 the next resistances for Nifty will be at 25192, 25273 and 25333. See how Father line support saved Nifty today. To know about Father, Mother and the small child theory you can read my book The Happy Candles Way to wealth creation. The book is available on Amazon in paperback and Kindle version.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Facing 200 Hours EMA as a strong resistance. As expected 200 hours EMA is proving to be a strong resistance for NIFTY. Unless Nifty can convincingly close above it further journey will be difficult. Tomorrow again Nifty might consolidate a bit later in the day Nifty might try to cross 200 hours EMA. let us see if that can sustain. Resistances For Nifty: 17910, 17974 and a very tough resistance thereafter near 18068. Supports for Nifty: 17810, 17765 (Strong support 50 hours EMA) and finally 17649.
NSE:NIFTY
by Happy_Candles_Investment
Spot Nifty ended below 50 Hours EMA. If US indices and SGX Nifty don't do well overnight the chances are that few supports on the down side will be tested tomorrow. FII and DIIs both were net sellers today again showing some chinks in the armour of rally which started around 15183. Seems the strength of bulls is exhausted as third day in a row the Bulls could not even touch coveted psychological mark 18100 forget about sustaining over it. Bulls will have to show lot of courage to pull Nifty above 18100. Specially with FED announcement round the corner and a possibility of 100 bps hike has made investors cautious. Major level to watch out for tomorrow or in the coming week will be 17668 . Below 17668 Nifty can see a free fall. However the support at 17668 is so strong that even Bears will have to pull all their shots to bring Nifty below it. Resistance on the upper side remains at 18100, 18343 and 18606 levels.
NSE:NIFTY
by Happy_Candles_Investment