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Niftysupportandresistance

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
Mother Line, Trend line and other resistnace up ahead to watch.Before Nifty can fly further there are some important resistances to be crossed in the near by zone are 24368 that is the high of Muhurat day, Mother line resistance at 24391, Trend line resistance near 24400. After closing above 24400, Nifty can quickly reach 24505 or even 24601 in a short time. Supports for Nifty are at 24280, 24239, 24172 and 24142. Final support for Nifty is in the range of 24069 below which bears can create further havoc. Shadow of the candle is slightly positive but FII's deep selling is making the investors vary and fearful this does not include DIIs as of now but below certain level even they can start to give in if things do not improve. Shadow of the candle is slightly positive.
NSE:NIFTY
by Happy_Candles_Investment
1
FIIs continue to weigh in on Nifty Index. Unblemished sell off from FIIs has dampened the festive mood of investors in the Indian markets. Looks like there was not much support for DIIs today as Retails investors might be busy with Diwali festival so FIIs today had a clear upper hand. There are signs of bottom formation and Higher high higher low pattern is formed on Nifty. Unless we have a closing below 24172 or 24069 levels, I think the things will hold. If we get a closing below 24K bears and FIIs can push Nifty further down to 23.8K or 23.2K levels. Thus supports for Nifty are at 24172, 24142 and 24069 levels. Resistances for Nifty remains at 24242, 24370, 24395, 24505, 24601, 24702 and finally 24811 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
50 Hours EMA and Trendline resistance again stop Nifty progressAgain The Mother line (50 Hours Resistance) and trendline resistance threw spanner in the growth effort of Nifty. Till Mother line and trendline thereafter is not crossed we can't reach Father line resistance which is at 24853. Supports for nifty remain at 24307, 24173 and finally 24073. Below 24073 Nifty will become very weak and bears will spell further doom. Resistances on the upper side remain at the zone between 24448 and 24513 (tough to conquer Mother line and Trend line resistance respectively), 24613, 24730 and 24853. Above 24853 the critical resistance will be the zone between 24860 and 24971. Bulls can come back into the game after the close above 24971. Above 24971 Bulls can create an upward rampage. Tomorrow is a very critical day where Nifty going into November needs to close above 24513 or atleast above 24448. Signs are looking little difficult for Nifty with a negative shadow of the candle but festive buying can bring back the bulls in action hopefully. . To know more about Techno-Funda investment, Mother-Father and Small Child theory, Happy Candles Number read my book The Happy Candles Way to Wealth Creation. Gift it to yourself or your special ones this festive season. 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
U shape recovery on cards for Nifty. There is a chance of U shape recovery on Nifty if it is able to beat Mother and father line resistance. Today we saw a swift recovery by Nifty after making a low of 24140. Nifty closed at 24466. That was a recovery of 326 points which is quite remarkable. The only negative point was the close which is 2 points below the Mother line resistance of 50 Hours EMA at 24468. With this close if we can get an opening above Mother line tomorrow and if Nifty sustains above it we can see further swift recovery till Father line of 200 Hours EMA which is at 24887 with a trend line resistance at 24613. Nifty Resistances remain at: 24468 (Strong Mother Line Resistance) , 24613(Strong Trend Line Resistance), 24887 (strong Father Line resistance), 24917 and 25204. Above 25204 Bulls can come back aggressively. Nifty Supports Remain at: 24349, 24173 and 24073. Below 24073 Bears can get very aggressive in dragging the market downwards. To know more about Mother, Father and Small child theory and it's correlation to stock price and 50 and 200 days EMA read my book. The Happy Candles Way to wealth creation available on Amazon in Paperback and Kindle version. 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
Technical bounce in Nifty today, recovery can be a long processToday what we saw can be called as technical recovery by Nifty in the process of bottom formation. Actual recovery can still be a long process. Bulls can be back inn business only if we get a closing above mother line of 50 days EMA that is at 24898. 24898 is a critical level because mid channel resistance for the current parallel channel as well as Mother line. Whether Nifty can weather the storm and move ahead is only a question which time will answer in the short term. Long term investors can see current situation as partial entry zone for large and mid-caps which have given a good result this quarter or are giving a good result. Supports for Nifty remain at: 23865, 23684, 23464 (Father line Strong support 200 days EMA) and 23626 (Strong Parallel Channel Bottom Support). Resistances for Nifty Remain at: 24492 (Today's high and strong Trend line resistance), 24679, 24898 (Strong Mid-channel and Mother line resistance of 50 days EMA), 25221 and 25623. Strong momentum and positive action has potential to take Nifty back to 26K+ levels. As on date even after strong resilience shown by Nifty FIIs are still on the selling side as they were net sellers of Equity worth Rs.3228 Crores. DIIs and Retail investors have been on the buying side at every dip. This is what is not allowing the Nifty to fall currently beyond 200 days EMA. Let us see who given in first. Very interesting tussle going on between FIIs and DIIs + Retail investors combination. Shadow of the candle for tomorrow is neutral to slightly positive but it is hanging by a thin thread. (Approach for long term should be cautious but positive. Approach for short term is still very cautious as we are not out of deep waters).
NSE:NIFTY
by Happy_Candles_Investment
Today we received first signals of bottom formation. Today Nifty gave first indication of bottom formation after a long time. Will the bottom hold is a question which only time can answer. Nifty staged good recovery of 107 points from the day's low that was a positive sign. MMI (Market mood index) for Nifty on Ticker tape shows that Nifty is currently in the Extreme Fear zone of 26.5. Usually good money is made when you buy in extreme fear zone and sell in extreme greed zone. The supports for Nifty for the next week remain at 24102, 24703, 23366 and 22821. Resistances for Nifty for the next week remain at 24408, 24547, 24714, 24996 and 25338. Above 25338 Bulls can come back into full action mode and can take Nifty towards 25656 in the best case scenario. The Critical Mother and Father resistance for the hourly chart are at 24547 and 24966. Critical Mid channel resistance is near 25338. Channel Bottom support is in the zone of 24102 to 24072. To know more about Parallel channel and my Mother, Father and Small child theory read my book The Happy Candles Way to Wealth creation available on Amazon in Kindle and Paper back version. You will learn a lot about Fundamental analysis, Candle Sticks analytics, Profit booking and behavioural finance from the book. The book is currently one of the highest rated books on Amazon in the financial analysis and strategy category. I assure you it will be worth every money spent. 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
Another day another weak show by Nifty. Nifty again could not sustain the highs of the day and ended up in the negative. Nifty on an hourly chart is spiralling downwards in a downward parallel channel. Every bounce even if it is a small one is seen as an opportunity to sell specially by the FIIs. Even today the signs or signals for bottom formation are not visible. To know more about a parallel channel do read my book the Happy Candles Way to Wealth Creation available on Amazon in paperback and Kindle version. One thing is for sure upward curve also starts out of nowhere just like the downward slide started out of nowhere so there is no need to sweat about it as the Macros for India remain healthy. Dollar index gaining more and more strength is a sign of concern however. Once the Dollar starts to relent we will see a better performance from many sectors. RSI of Dollar index is just starting to touch the overbought zone. Nifty supports remain at 24370, 24149, 23806 and finally 23111. Resistance levels for Nifty remain at 24592, 24757 and 25069 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
Very weak candle more pain may be in store for Nifty. Today we saw a confirmation of a pattern similar to head and shoulders pattern. The pattern is not exactly the classic head and shoulder but it is similar which can yield similar break down results meaning more pain might be in store if next 2 support levels are broken. The low of August 5 that is 24055 will be vital zone for Nifty to take support and make a comeback. There are 2 weak supports before we reach that level. These supports are near support previous to that at 24407 and 24113. If by chance 24055 is broken the next support is there near 23811 followed by 200 days EMA (Father line) at 23428. Below this level there is pure bear territory as this chart is drawn on daily candle sticks. On the upper side the resistances that Nifty will now face are at 24711 (Strong resistance along with a trend line resistance). If this resistance will be crossed the next resistance is at 24879. By chance we get a closing above this level Mid channel resistance and Mother line resistance of 50 days EMA awaits us near 24995 and 25231 respectively. The Macros of Israel Vs Iran++, US Elections and China stimulus are the major factors affecting FII outflow. Indian Growth story remains intact sectoral churning near the bottom is a real possibility. Overbought sectors of Defense and PSU in addition to some Mid and Small caps are taking most of the beating. At some point their PE will become attractive and at some point their dividend yield will also attract investors. whether that point has arrived or will arrive soon is yet to be known. There are no signals of bottom formation as of now and Shadow of the candle remains negative.
NSE:NIFTY
by Happy_Candles_Investment
1
Mother Line Stopping moves to Nifty to go ahead.As you can see clearly from the chart with daily candles that mother line of 50 days EMA is stopping Nifty from progressing ahead. Nifty since October 7 is unable to close substantially above the mother line. This is the power of Mother line resistance. Trend lines are merging and Squeezing the Nifty with very less space left for it to maneuver. Nifty is at exact crossroads with possibility of Breakout or Breakdown at time later during this week. 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. The Happy Candles Way to Wealth Creation is a book currently rated highest in the category of financial analysis and strategy on Amazon. Supports For Nifty are at: 24685, 24565, 24065 and Father line support of 200 day's EMA at 23417. (Below 23417 in unlikely situation of some major global escalation Bears will take total control of the market). Resistances for Nifty: 24858, 25017 (Mother line Resistance of 50 day's EMA), 25321, 25469 and 25634. Above 25634 bulls can come back to action. Disclaimer: There is a chance of biases including confirmation bias, information bias, halo effect and anchoring bias in this write-up. Investment in stocks, derivatives and mutual funds is subject to market risk please consult your investment advisor before taking financial decisions. The data, chart or any other information provided above is for the purpose of analysis and is purely educational in nature. They are not recommendations of any kind. We will not be responsible for Profit or loss due to descision taken based on this article. The names of the stocks or index levels mentioned if any in the article are for the purpose of education and analysis only. Purpose of this article is educational. Please do not consider this as a recommendation of any sorts.
NSE:NIFTY
by Happy_Candles_Investment
Nifty is trying to stage recovery but 3 big hurdles are nearby.Nifty has on Friday tried to stage a recovery. It ended up 287 points from day's low which was a remarkable feat. Now it is staring at 3 or 4 major hurdles before Bulls can come back in business. But well begun is half the job done. The three major resistances are at 24886 that is Friday's high, 24960 that is Mother line of 1 hour chart, and 25172 that is father line of 1 hour chart. To know more about Mother, Father and Small child theory read my book The Happy Candles Way to wealth creation available on Amazon in paperback and Kindle version. After 25172 the major hurdle will be at 25211. Closing above 25211 the bulls can try to take Nifty to higher levels. Support zones for Nifty will be at 24611, 24559 and 24466. If we get a closing below 24466 the bears can pull the Nifty further down and create more downside. Disclaimer: There is a chance of biases including confirmation bias, information bias, halo effect and anchoring bias in this write-up. Investment in stocks, derivatives and mutual funds is subject to market risk please consult your investment advisor before taking financial decisions. The data, chart or any other information provided above is for the purpose of analysis and is purely educational in nature. They are not recommendations of any kind. We will not be responsible for Profit or loss due to descision taken based on this article. The names of the stocks or index levels mentioned if any in the article are for the purpose of education and analysis only. Purpose of this article is educational. Please do not consider this as a recommendation of any sorts.
NSE:NIFTY
by Happy_Candles_Investment
Mother, Father lines and the trend line stopping NiftyEvery effort of Nifty is being stopped by mother line, Father line or the trend line. It shows weakness but the turnaround might be around the corner. The possible turnaround zones can be around 24915, 24684 or 24478. If we get a closing below 24478 bears can take over. Resistances on the upper side are 25045, 25088 and 25230. Above 25230 bulls can take a commanding position. Very delicately placed Nifty with a negative shadow of the candle. But some turn around can be expected within this week or the next when we get support from one of the zones mentioned above.
NSE:NIFTY
by Happy_Candles_Investment
Baby steps taken by Nifty towards road to recovery. Today we saw Nifty take first baby steps towards road to recovery. Nifty was seen rising from channel bottom in the hourly chart. One must note that formidable Mother and Father resistance are yet to be conquered. Nifty today was blocked by Mother line which is at 25140. Father line which is at 25262 is waiting to resist further progress of Nifty. 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. If Nifty is able to conquest Mother and Father line, the next resistances will be at 25475, 25644, 25753 and 25875 before Nifty is able to regain 26K levels. Supports for Nifty will be at 24915 (Important Parallel chanel bottom), 24684 and 24478. In worst case scenario Nifty bottom currently seems to be near 23891. It is less likely that Nifty reaches here unless there is some escalation in Middle East or some other major global event.
NSE:NIFTYLong
by Happy_Candles_Investment
weekly closing below 25000 is not a good sign for Nifty. Weekly closing below 25000 is not a good sign for Nifty. Thus turning our short term outlook a little negative. Medium to long term outlook is still positive with a chance of further consolidation and correction. If by chance there is a macro event in the Middle East at this particular junction the chances of further consolidation or a 3 to 5% fall is also a clear and present. If there will be recovery it has to be next week or perhaps mid week. Another bout of missile or similar attack can bring volatility in Crude, USD and Gold. This can effect our market negatively. There is also a another stimulus package in line by China for revival of its economy. Already FIIs have migrated enmass to China. The saving grace has been DIIs buying every dip. If DIIs will come in selling mode, Retail can also sell enmass in panic. This post is not to create panic of any kind in investors. Fundamentals of Indian markets are strong. Reliance result is expected next week. That can be a turning point for good in the market if the results are good and there is no escalation in the middle east. The warning is given here so that you can place stop losses / trailing stop losses in a proper place. Supports for Nifty are at: 24804, 24416, 23818 and 22990. Below 22990 it will be bear territory. In such a scenario bears can drag the market further down to 21989 or 21197. Corrections are a part of progress cycle as they get PE ratios at an investible / attractive levels. Resistances for Nifty are at: 25026, 25426 and 25755 before Nifty gains 26K levels again. A lot depends on macro factors now and result of Reliance next week. Status Quo in Middle East, de-escalation on war front and good Reliance result can burst all bear efforts and can turn the market positive 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
Trendline resistance continues to halt Nifty. Closing BellThe trend line resistance continues to halt Nifty. Again today after making a high of 25134 Nifty saw selling pressure mostly again from FIIs. This time Nifty closed the day at 24998 below the psychological level of 25,000. This can enable bears to make Nifty test the support zone between 24932 and 24677. The resistance of Nifty are now at 25057, 25134 and 25204 Mother line resistance of 50 hours EMA and 25294 father line resistance of 200 hours EMA. Nifty continues to squeeze between support and resistance trend line and tomorrow can be the day when we can see either a proper upwing or downward move. Above 25294 Bulls will be very aggressive and drive Nifty upwards. Below 24677 Bears will be very aggressive and thrash Nifty downwards. Strictly do not trade/invest without keeping Stop losses and Trailing stop losses. Stop losses protect your capital and trailing stop losses protect your profits. To know more about stop losses, trailing stop losses, Profit booking and investment in Equity in general or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Which is available in Amazon in Kindle and Paperback version. 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 resistance on Hourly chart stops Nifty progressThe zone between 25234 and 25313 has resistances like Mother line, Father line and today's high. Crossing this zone will be important to cross for Nifty to progress further. If this zone is crossed the next targets or resistances will be at 25481 and 25687. Supports for Nifty are at 24932, 24667 and 24470. Below 24470 Nifty will become very weak. RSI median line at 43.59 is support and mid channel RSI at 50 will be the resistance. Shadow of the candle currently is neutral to positive. Nifty is squeezing between support and resistace trendline and can give a move in any direction tomorrow. Not sustaining the highs of the day was a negative sign but we all know taking mother and father ashirwaad (Closing above mother and father line is never easy when they are in resistance mode). Strictly do not trade/invest without keeping Stop losses and Trailing stop losses. Stop losses protect your capital and trailing stop losses protect your profits. To know more about stop losses, trailing stop losses, Profit booking and investment in Equity in general or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Which is available in Amazon in Kindle and Paperback version. 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
Good recovery candle by Nifty but Mother line yet to give way. Nifty gave a good recovery candle but Mother line resistance and mid channel resistance are yet to be conquered. the zone between 25052 and 25332 will play as a strong resistance as it contains resistances like Mother line (50 days EMA) at 25052 , Mid channel resistance around 25148 and a resistance from previous peak from mid september which is around 25332. Once this zone is crossed Bulls will try to take the market to the next levels which are 25481, 25657, 25992 and 26K+ again. The supports for Nifty remain at 24677, 24470, 24216 (channel Bottom support), 23942 and finally 200 days EMA or the Father line support at 23274. Below 23274 is all Bear territory. As we had indicated the market looked oversold yesterday there was a chance of short covering which happened today. Confirmation candle above 50 EMA tomorrow or later in the week will be an icing on the cake from where actual recovery can start. The candle formation today was similar to Bullish Harami pattern. (Harami in Japanese means Pregnant woman). Bullish Harami indicates shadow of the candle to be positive. The pattern can get confirmation only if the bullishness continues tomorrow and we have a positive closing of the week. 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