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Niftysupports

Nifty is holding on above the Father line but by a thin margin.After reaching a weekly high of 23869 Nifty decided to fall back in search of its support zone. Currently it is holding above the Father line in the daily chart which is at 23406. Below the Father line there is Mother line waiting to support Nifty at 23114 in case the weakness seen on Friday persists. We will be in trouble again in case we get a daily or weekly closing below this level. In such a scenario the supports for Nifty will be at 22827, 22294 and 21939. In case the Nifty is able to gain momentum again the resistances it will face will be near 23536, 23671 and 23864. Closing above 23869 will enhance the short term momentum in Nifty which can lead it to 24K+ levels. To know more about supports, Resistances, investing in stocks based on sector index, Trend lines Parallel Channels, Mother, Father and small Child Theory, Behavioural finance, Fundamental analysis, Technical analysis, Profit booking etc. Read my book The Happy Candles Way to Wealth creation. It is as on date one of the highest rated books on Amazon. The paperback version and Kindle can be bought through Amazon. You can also contact me to buy the same. Things are slightly off balance with shadow of the candle just slightly in favour of bears as of now but Bulls will definitely try and retake the advantage back to their side given a slight opportunity. So the Bull and Bear tussle to continue into April and may escalate given Trump Tarif announcements and upcoming result 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. No one can guarantee any success in highly volatile market or otherwise. There is also chance of bias in our opinion. The supports and resistances indicated are based on data which has a cycle time of being 3 months or older so it is not necessary that it will work. The author or Smart Investment 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
1
Nifty finds a support just above Mother line and Mid-channel.Nifty has today found a good support just above Mother line of the hourly chart and Mid-channel support zone as it bounced from lows of the day near 23412 to close at 23591. Tomorrow being the weekly closing, monthly closing and financial yearly closing it become very important or one of the most important days for investment enthusiasts. A positive closing tomorrow will empower bulls in a lot of ways. The first support for Nifty will be at 23550. A very strong support zone for Nifty right now remains between 23412 and 23380. This zone includes today's low, mid channel support and mother line support. A closing below 23380 will bring bears back into action who can potentially drag Nifty again to 23145, 23003 or levels below 22801. Resistance zone for Nifty remains at 23646 today's high, 23670, 23778 and 23900. A closing above 23900 will empower bulls to take Nifty to higher levels of 24046, 24169 or 24378. As described earlier very important day tomorrow with shadow of the candle being neutral to positive. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Coming back to test its supports.After a proper breakout and a rally which stretched above 1900 points from the March 4 lows, Nifty was clearly overbought on the hourly chart. It might be coming down for one or more of the following reasons: 1) Retesting support from where it can launch fresh move. 2) Correcting the RSI which had gone into the overbought zone. 3) Pressure due to upcoming Monthly and Financial year closing approaching on 28th March 2025. 3) The rally might have fizzled out. 4) Tax harvesting being done by retail investors. 5) Pressure due to upcoming Monthly and Financial The first 4 options seem to be more likely of the 5 points mentioned above. FII was again on the buying side today so DII and Retail were the major selling parties. Nifty Supports currently remain at: 1) Strong support zone of 23398 and 23309 (Hourly Mother Line support). This zone also includes the formidable mid channel support. 2) Next support is at 23145. 3) The next critical support for the rally remains at (Father line of the hourly chart) which is at 22959. 4) Final support for the rally will be at Channel bottom which is at 22801. Nifty Resistance currently are at: 1) 23602 which is now a resistance. 2) 23749 a formidable resistance. 3) Recent rally top at 23869. 4) The zone between 24071 and 24267. (The areas that can be new channel top). If you want to learn more about Mother, Father and the Small child theory designed by me about the stock market, Parallel Channels, charts, Candlestick 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 Behavioral 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. More volatility can be expected int the next 2 days due to ongoing Ukraine-US-Russia announcements, Financial year expiry and Trump Tarif updates. Trade with caution. 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 Trendline Breakout Candle by Nifty. Nifty has given a good break out above Father line (200 Days EMA) at 23399 and Long term trend line. This shows that Bulls have made a comeback and are out of Coma. However Bears can try to disrupt things later in the week. Important resistance zone of Nifty now is between 23708 and 23830. Crossing and closing above 23830 has potential for the rally to inch upwards towards next resistance levels at 24030 and 24215. The supports for Nifty now remain at 23399, 23109 and 23036. The sectors that are driving the rally are Banking (Both Private and Public sector), Finance, Public Sector Industries. Midcap, Smallcap, Infra, Pharma, Consumer Goods and some other sectors are also trying to catch up. Overall it has been a V shaped recovery. This week's closing will decide if the rally can turn out into full blown Bull run or not. Signs are ominous. Predicting exact top and exact bottom remains illusive. When People were calling for Doomsday scenario and 20K, 19K levels we have seen Nifty rising 1694 points from 4th March Low of 21964. 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. No one can guarantee any success in highly volatile market or otherwise. There is also chance of bias in our opinion. The supports and resistances indicated are based on data which has a cycle time of being 3 months or older so it is not necessary that it will work. The author or Smart Investment 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
Solid Comeback by Nifty on Weekly Chart. 1 hurdle remaining. Nifty made a solid comeback gaining 4.26% this week. One major hurdle remaining which is 23403. If Nifty can close above this level the next resistances will be at 23809, 24030, 24215, 24443, 24667 and 24873 before Nifty can regain 25K levels. The supports for Nifty on the lower side if it is not able to cross the major hurdle at 23403 will be 23109, 22789, 22334 and 21974. As of now the Bulls have done well turning the shadow of the candle positive for the next week. However there is also a small possibility of 23403 becoming Achilles heel for the rampant Bulls. Weekly RSI is at 48.89 which means it has entered the bullish territory. MACD or the Moving Average Convergence and Divergence has not fully moved into the Bullish territory but it has certainly taken the turn towards the convergence. So overall it was a great week for bulls after a long time but one final hurdle of the Bear 'Chakravyuh' remains to be conquered. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTYLong
by Happy_Candles_Investment
Make or Break 3 key Resistances Approaching. Nifty saw 3 good days of recovery. Now the real test begins as we are approaching the 3 big daddy resistances. 1) R1 Mother line Resistance (50 days EMA) 22988. 2) R2 Long Term Trend line Resistance 23237. 3) R3 Father Line Resistance 23399. If these 3 are crossed the Nifty has potential to hit 23809 in the medium to short term. If Nifty rally does not have steam it can again fall back to the support levels at 22638, 22334 or even 21974. IT has not contributed to the current rally Infact it has remained laggard. RIL has not contributed. HDFC has remained range bond. If some IT counters or Heavy Weights like RIL or HDFC join the rally we can see Nifty flying otherwise there is a potential for this rally to fizzle out again. Things are in balance right now. Shadow of the candle neutral as I write this. Very important closing weekly closing awaits us on Friday. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
1
Excellent Break Out by Nifty. Will the momentum continue?Today the Nifty had a good leap after a lot of consolidation. The key question is will the momentum continue or FIIs will again take this opportunity to book profit. Today FII is on the net buying side after a long time. If the buying continues or even if FII remains neutral there is a good chance that we can see upside from here. Key resistances for Nifty remain at 22857, 22921 and 22985. Above 22985 Nifty can gain more strength and may try to regain the levels of 23044, 23147 and 23249. 23404 as of now remains a mega resistance which is also the 200 days EMA of 200 days Father line. This zone as of now is little difficult to cross. Closing above 23404 can give might boost to the Bulls and a new Bull run can begin post closing above this point. Supports for Nifty at this juncture remain at 22726 (200 hours EMA or Father line of Hourly chart), 22594 and 22543. A closing below 22543 which is the Mother line support of the hourly chart or the (50 Hours EMA). As there are small signs of reversal on the cards. It is a good time to read my book the Happy Candles Way to Wealth Creation. This is one of the highest rated books on Amazon. This book will teach you Behavioural Finance, Fundamental Analysis and Technical analysis. Every Bull Rally has a top and every Bear run has a bottom. If you can identify them. If you can understand the risk reward ratio. If you can understand the profit booking points, entry points the Mother, Father and the Small Child theory. The magic of Mother and Father lines. There is a lot of money to be made in the stock market. You need to learn, study and form your own strategy. If you want a ready made strategy then this book offers Happy Candles Number Strategy. All these things will help you in creating generational wealth. Do read my book and evolve into a Magnificent Investor and a Wealth creator. The Book is only priced at Rs.349 go ahead grab your copy. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Nifty holding above Hourly Mother line a good signalNifty holding above 50 Hours EMA or Mother line in the hourly chart is a good signal for the market if it holds above 22464 then there is a chance of further recovery. The supports for Nifty remain at 22464 (strong Mother line support), 22368 (Another strong trend line support), 22311 and 22205. If the support at 22205 is broken Nifty can go in a jiffy to 21976 or below. In case we get a closing above 22591 Nifty will become stronger and can jump to 22678 or 22722 levels. 22722 is a strong 200 Hours EMA or Father line resistance. A closing above 22722 can take us to next historical resistance levels of 22813, 22921, 23044, 23147 and 23249 levels. Closing above 23249 has potential to bring Bulls back out of ICU and Take Nifty further up. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty near important support holding it is key for progress. Nifty this week tried to consolidate and in the process lot a lost of ground covered last week. Holding the support level of 22314 is the key to move forward. If this major support is broken Nifty may again fall to the strong Bear zone of 21975, 21782 or even 21285 levels. If 22314 support is held the future resistances can be 22531, 22668 and 22842. If these resistances are crossed we will reach Mother and Father line resistances at 23018 and 23419. A monthly closing above Father line resistance that is 23419 can bring Bulls back into action. Shadow of the candle is neutral with slightly positive tinge. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Smart recovery by Nifty after opening Gap-Down. Nifty opened Gap down after a sell-off in global markets in general and US markets in particular. Nasdaq tanked 3.81%, Dow cracked 2.08% and S&P 500 cracked 2.70% last night. Nifty however has closed 37 points in positive showing some strength. The recovery from day's low was 183.2 which sounds like a very powerful comeback. However we are not out of the woods till we close above few important resistances which are in front of Nifty. Immediate resistances are at 22531, 22668 and 22842. Once we close above 22842 there are Mother and Father Line resistances at 23067 and 23439. Closing above 23439 is the key for Bulls to make a comeback. Those who are not aware about my Mother, Father and Small Child theory of stock market can read my book the Happy Candles Way to Wealth creation. The book is one of the highest rated books on Amazon in the category. The book teaches Behavioural finance, Fundamental analysis and Technical analysis. Many consider this book as hand book of investment. Anyone who reads it will benefit and take something home some valuable learning whether he is a newbie or a seasoned investor. Supports for Nifty will be near 22314, 21975, 21782 and 21281. If Nifty can carry forward today's momentum into tomorrow there is a chance of further recovery. Shadow of the candle despite today's smart recovery is absolutely neutral. Market will be closed on Friday for Dhuleti so next 2 days are very crucial for Bulls. Mother and Father lines are far away but bulls will be very happy to get a closing above 22668 if not 22842 this week. Bears will try to drag the market below today's low of 22314. So it can be a tussle of the highest order in store for the next 2 days. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Nifty trying to bounce but few hurdles remain. Nifty is trying to bounce after forming the base but few important hurdles to cross next week if the rally has to sustain. The immediate resistances for Nifty will be 22557, 22668, 22800 and 23056. If these resistances are crossed we will have the Mother line and Father line resistances waiting for Nifty at 23116 and 23458. In the Middle of this tough resistance zone of Mother line and Father line there is also a trend line resistance around 23300. But these will come into play only if we are able to cross the immediate resistances mentioned earlier. To know what mother father line resistances are you will have to read my book The Happy Candles Way To Wealth Creation. It is one of the highest rated books on Amazon in its category. In case of the rally fizzles out the support zones will be near 22240, 21964, 21782 and finally 21281. In unlikely circumstances of 21281 broken and we get a weekly closing below it the market will fall into a major bear grip coming out of which can take a lot of time as this is the Election 2024 day low. As of now shadow of the candle looks slightly positive however FIIs are still in the selling zone despite the chart showing the signs of bottom formation. Next week is going to be very interesting. It will be interesting if FIIs finally show some interest of coming back or continue their selling mode. Little bit of support from FII here could possibly drive the rally further and add more steam to this humble beginning of what we can call a gentle up move rather than a bull run. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Good closing by Nifty, Now all eyes on tomorrow's weekly closingAnother fantastic day of recovery by Nifty which closed 207 points up today. From the lows of the day recovery was 310.6 from the lows of the day. Thus last 2 days have seen a significant up moves. The resistances now for Nifty remain at 22556, 22800 and 22981 before we reach the major resistance zone of 23139 to 23467. This zone includes a Mother line, Father line and Trend line resistance. It will take some major good news or significant buying by FII to take us into Bull zone which awaits us above this zone. Supports for Nifty remain at 22240, 21954, 21782 and 21281. Below 21281 there can be a bear mayhem which can see Nifty slipping into recession mode. For now that zone is far away and shadow of the candle currently looks neutral to positive. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty trying to stage a comeback but big resistances approachingNifty is in the process of staging a grand come back. Toda it closed with heft gain of 1.15% and 254 points. However there is an important trend line resistance including the supply zone between 22394 and 22455. If we get a closing above 22455 by the end of this week we can assume it will be a come back otherwise this bounce can be termed only as a technical bounce from the oversold zone. Once we get a closing above 22455 the next resistances will be at 22692 and 22981. Post this there will be Mother line, Major trend line and Father line resistance which can be seen in the chart at 23163, 23411 and finally 23477. It is a long way to go before we reach there. Bulls can claim a dominating position only after a closing above 23477. Supports for Nifty remain at 22183, 21954 and 21576 currently. All eyes on the closing we get this weekend. Positive or positive to flat closing required in the next 2 days for bull run to gather proper steam. Shadow of the candle currently looks neutral to positive. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTYLong
by Happy_Candles_Investment
Market Still Searching for Bottom. Nifty is still searching for a firm bottom from where it can form a base and launch a comeback. RSI of Nifty on Weekly chart is at 34.15. The weekly RSI was this low only during COVID fall when market RSI had gone below the level of 20. Most of the levels are being broken down week after week and day after day. Now Nifty supports are at 22054 and 21813. 21813 seems to be a very strong support if this support is broken we have only 21281 support which was the Election day low where there was a fear of regime change. If 21281 is broken then 20507 and 19706 Father line of weekly Chart. Daily RSI is at 22.4 which indicates Nifty might be near the oversold zone. Upside resistances for Nifty are at 22588, 22743. Crossing these 2 hurdles will bring in a formidable Fibonacci resistance of 23214 and 23334 (Mother line of Weekly chart) into picture. Bulls can make a come back only after we get a closing above 23334. Amongst all these negative indications Nifty 50 PE valuations are at 19.7. The 10 year Average PE of Nifty 50 is at 23.5. Which means lot of stocks are trading below their 10 year Price to Earning average and value buyers can see an opportunity here for long term investment and they can start collecting fallen stars. Daily 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Long Term Nifty Outlook Based on 2023 Fibonacci levels. Based on the Fibonacci levels plotted from the point from where rally started on 2023 towards the peak and reverse Fibonacci from the same 2 points. We can make the following deduction: Major Supports for Nifty can be around: 22500, 22169, 21845. Negative scenario as of now seems to be near 21227, 20507, Father line support of Weekly chart 19710. Worst case scenario 19170 or 18769. (Possible but improbable) But you never say never. Major Resistances for Nifty will be at: 23214 Fibonacci level resistance, 23351 Weekly Mother line resistance, 24921 and then previous peak at 26277. Best case scenario for Nifty to make a come back with a bang and show us a new high near 28000+ levels (Possible but improbable) But your never say never. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Reverse Hammer in Nifty (confirmation pending) sign of reversal.A reverse hammer pattern is formed in Nifty in the weekly charts. Usually This kind of formation signals trend reversal. For reversal to be successful we need a closing next week above 23044. If this happens investors and traders can breathe a sigh of relief from the on going market correction. If the reversal is not successful we might see Nifty fall further to 22427 or in the worst case scenario the next supports will be at 22132, 21718 or even 21302 as of now. On the positive side if the reversal is successful we may see Nifty rising to 23383, 23819, 24205 or close to 25K if we get a weekly or monthly close above 23044 level. Another point which goes in favour of Nifty is that weekly RSI currently is at 39.39. Last time the weekly RSI was this low was in March 23 when it was 38.80. After this point we saw a rally in Nifty which lasted almost 18/19 months. So a further small dip post which we can see a come back in Nifty as per the Relative Strength Index. Next week and the week after than will be critical for reversal of Nifty. Shadow of the candle neutral to positive this week. We might be near a temporary bottom (confirmation pending). 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Mother Line again resisting and Trendline supporting. Something got to give now in a big way as Mother line 50 Hours EMA of 1 hour chart is resisting the up move and trend line formed from the base of recent low is providing support to the Nifty. Few things can happen here which everyone can observe for Educational purpose: 1) If Trend line is broken Nifty will again try to seek support at 3 month or more cyclical points of 22802 or 22722. If 22722 is broken Nifty may find itself again searching for Bottom which can be temporarily near 22451. 2) Second thing that can happen is Nifty can just like last 2 days stay range bound and trapped between trend line supports and resistance in the range of 22722 to 23022 (Mother line of 50 hours EMA). 3) We might get a break out if we get a closing above 23022 (Mother line). In such a scenario the next resistance levels based on cyclical 3 month or older data seem to be near 23108, 23200 or 23283 (200 Hours EMA or the Father line). If we get a closing above Father line 23283 the next resistances can be 23494 or 23804. This is what short term outlook of Nifty looks like. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Nifty stopped by Trendline and Mid-Channel Resistance. Nifty again today was stopped by the trendline and mid channel resistance inside the falling channel. A closing above mid-channel around 22967 will enable some strength to Nifty. However closing above the Mid-Channel will not be enough as there are 50 hours resistance line or the Mother line of hourly chart nearby as well. This Mother line is at 23043. The next resistance if we get a closing above 23043 will be near 23200. After this hurdle is crossed the next hurdle is near 23307. 23307 is the Father line of hourly chart. Post crossing this area the channel top will be near 23494. Supports for Nifty right now are at 22802, 22745. If 22745 is broken channel bottom support is near 22451 and post that trend bottom support near 22114. The closing was negative today but shadow of the candle is neutral to positive. Which can be considered a possible sign of reversal. However it is to early to call it a clear reversal until we get a closing above 23494. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Great 234 point comeback by Nifty from lows of the day. Nifty made a great comeback of 234 points from lows of the day that is 22725 to close at 22959. The momentum has to carry forward tomorrow in order for any rally to sustain. Only when we get a closing above Mother and Father line Bulls can take a sigh of relief. Mother line and Father line are at 23530 and 23587 respectively. Before we reach there there are cyclical resistances 3 months or older at 22984, 23229 and 23435. Supports for Nifty will be at 22725, 22438 and 22159. If we get a weekly closing below 22159 the next supports will be at 21810 and 21302 only. So despite a good closing we are not out of danger zone as of now. Shadow of the candle is neutral as of now. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Nifty did well to hold on to crucial support. Can it hold ?Nifty did well today to bounce back from the lows of the day at 22774 to close at 22929. Holding this support is key. Under the pressure of relentless selling the market is in bear grip as of now. This is a good time to identify long term investment opportunities. Gaining immediate profits and fast recovery looks little difficult as of now. (You can not be 100% sure about the tops and bottoms of the market.) Next few months will give ample opportunities to average/add on bounce only. Mother father line supports and Resistances are the key to any investment during the bear phase of market. Patience of investors will be tested in the coming few weeks and months. Reshuffling your portfolios in favour of Fundamentally strong stocks that are going or still above 50 and 200 weeks EMA or Mother father line will be key. This is a stock pickers market. The forth that had build up post COVID rally is being cleared. Corrections are healthy sign for long term investors. Stock market is a place where money is transferred from the impatient to the patient. Pain will remain in the market for a short to medium term but hopefully great time and great rally awaits us in medium to long term. This next few weeks and probably months will test the new investors. Those who have seen a few Bull and Bear cycles know that good times do return eventually on the browsers. Nifty Supports remain at: 22758, 22159, 21810 and finally 21302. Nifty Resistances remain at: 23128, 23259 and 23435. Major hurdles for Bulls remain near Mother line at 23554 and Father line 23594. After a closing above 23838 only Bulls can be back into the game. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
1
Can Nifty overcome Mother, Father and the Trendline resistances?With the results in Delhi elections that will suit the market fervor can Nifty break the triple whammy of Mother, Father and Trendline resistances which are not allowing it to fly? The answer to the question can be yes. But what is important is if Nifty can sustain the opening that it might get and hold on to the levels? This will depend again on FII activity. FII as we know are on the selling side continuously. Also there is an upcoming New Income Tax bill to be tabled. Investors will wait and see the action taken on the LTCG and STCG taxes on the income. No bad news can be a good news with respect to this aspect. After the income tax relief received and RBI rate cut. Supports for Nifty remain at: 23435, 23177 and 22967. If the major support at 22967 is broken there can be a free fall in the market till the levels of 22758, 22159 or even lower as depicted in the chart. Resistances for Nifty remain at: 22619 (Father Line, 200 days EMA), 22658 (Mother line, 50 days EMA), 22838 (Major trend line resistance). If 22838 is crossed and we get a closing above it we can see the levels of 24084, 24223 and 24482. For levels above 24482 we will have to get a weekly closing above the same first. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Two important Resistances to conquer for Nifty ahead. There are 2 important resistances for Nifty ahead which need to be conquered for the Bull run that started post budget to sustain. These 2 resistances are at 23630 and 23809. Today Nifty made a good comeback from lows of the day which was near 23556 to close at 23603. The resistnace near 23809 acted again as Nifty plummeted from the level of 23773 to fall to 23556. The trend line shown in the chart acted as support for Nifty to come back into the game. There are 3 important events coming up later. RBI Policy where market is expecting a rate cur. Delhi election results and finally Income tax bill to be tabled in the parliament. Market is fearing a little bit and hoping that there is no bad news related to LTCG or STCG etc. in the bill. Nifty supports remain at: 23556, 23498 and 23484 (Mother and Father line of the daily chart). If this line is broken we can see Nifty falling to old support system of 23376 and 23222. Closing below 23222 can bring the Bears back into the game and calling the shots again. Nifty Resistances remain at: 23630 and 23809. If these to resistances are conquered we can a strong up move towards 24K level with resistances at 23991, 24197 and 24344 level. Above 24344 level Bulls will come out of ICU and start taking control of the system. Shadow of the candle right now is absolutely neutral. Tomorrows closing will be very important a closing above 23630 will be good but closing above 23809 will be great. Similarly a closing below 23556 will make the market weak. Nicely balanced right now. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Nifty tried to consolidate today after the BO yesterday. Nifty did well to consolidate and end above 50 and 200 days EMA today Nifty closed at 23696 and the Mother and Father lines are at 23664 and 23620 respectively. These Two lines will continue to act as support for the coming days and sessions. Nifty faced a very stiff resistance today as expected near 23800. It will not be easy to cross this resistance. This was made clear by us in earlier messages. Exit poll results, followed by RBI rate cut followed by actual Delhi state election results in favour of market expectation can lead to a positive sentiment build up and these levels can be taken down and Nifty can even regain 24K levels in the coming time. Nifty supports remain at: 23664 (Mother line), 23620 (Father Line), 23346 and 23222. Below 23222 weekly closing Nifty will become very bearish. Nifty Resistances remain at: 23809, 23883, 23984 24108 and finally 24197. Above 24197 Weekly closing Nifty will become very bullish. 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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTYLong
by Happy_Candles_Investment