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Niftysupports

Mother Line 50 EMA gave a great support to Nifty today. 50 EMA which is the Mother line gave a perfect and much required support to Nifty today. Proving again our Mother, Father and Small child story. Now tomorrow and and Friday the Nifty has to close above it to continue the upward trend. Resistances that Nifty will face on the upper side remain at 19747, 19851 and 19991. Supports for Nifty on the lower side are 19560 (50 EMA/Mother Line) and 19224. We are still not out of woods if we do not get 1 or 2 confirmation candles.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Took Support At 50 Days EMA. (Positive Sign). Nifty Took Support At 50 Days EMA which is a Positive Sign. If the support is not broken in the remainder of the week, seeds of a fresh rally and end of weakness will be sown. For this to happen Nifty not breaking the 50 days EMA is very important. Resistances on the upper side will be at 19735, 19851 and 19991. Supports for Nifty at the lower level are at 19549, 19435 and 19224. Below 19224 the bears will overtake the market.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty took support at a very important level today. Nifty took support at a very important support zone. The level being at 19709 to 19694. 19709 was today's law. If the support zone is broken the next support levels are at 19538 and 19224. If 19224 is broken we may see bears take a total control. Major support after 19224 will be near 19050 and 18900 and finally 18638. (Very unlikely that we reach there). The resistances on the upper side are at 19848, 19991 and finally 20203.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty again at a brittle Trendline support. Nifty again is at a very brittle Trendline support. Today's low of 19878 to 19890 remains the most important support for Nifty as RSI on hourly chart shown Nifty as over sold. It is very important for Nifty to recover from here. If this support is broken the next important supports for Nifty at lower levels are at 19796, 19696 and 19554 to 19530. If 19530 is broken the next most important support level will be near 19263. Below this level there is a chance that bears will be in total control. Resistances on the upper side for Nifty are at 19990 and 20057.
NSE:NIFTY
by Happy_Candles_Investment
Nifty at important support level now.Nifty is just above a very important support zone now. This support is between 20104 and 20008. Closing below 20008 can weaken the grip of Bulls. In this case the Nifty can further fall to the support levels of 19886 or even 19679. Resistances on the upper side for Nifty are near 20229 (Major resistance). If we look carefully a rounding top is forming near 20229. Which can mark end of a bull phase too. But if we get a closing above 20229 the doors will open for the targets of 20354, 20447 and finally 20559.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Near Major Resistance.Nifty is near the major resistance zone of 20200 and 20230. It returned from the resistance on Friday. Little bit of correction and consolidation is due. Selective Small and Mid cap stocks along with few Large caps can continue to be bullish. If the strong resistance between 20200 and 20230 is broken and we get a closing above 20230 the next targets will be 20354 and 20477. In case of correction the support will be provided by support zones of 20104, 19991, 19886 and 19696. Below 19696 final support zone will be between 19490 and 19227. The trend changes to negative only below 18599.
NSE:NIFTY
by Happy_Candles_Investment
Doji of indecision starting to form. With RSI at 74.3 there is a Doji formed after yet again Nifty making new record high of 20167. Nifty closed at 20103 indicating too much heat / resistance in the range of 20167 and 20200. If we close above 20200 the next target will be 20291. Supports for Nifty at the lower side will be near 20043 and 19911. Closing below 19911 can drag the Nifty to 19720 levels. Nifty may start positively but later in the day or next week there can be profit booking pressure as RSI will inch closer to 80 and above.
NSE:NIFTY
by Happy_Candles_Investment
Nifty held ground but blood bath in Mid and Small Cap indices. There was a mayhem in the market as Small and Mid-cap indices faced heat today after flying high for last few weeks. Nifty ended 3 points in the negative but the story of the day was being written elsewhere. Heavy selling and Profit booking was seen in Small and Mid cap indices. Support for Nifty will be around 19911, 19720 and 19516. Nifty turns negative if we get a closing below 19409. Resistances for Nifty on the upper side will be at 20128 and 20291.
NSE:NIFTY
by Happy_Candles_Investment
Consolidation needs after making a historic new high. Nifty made a new high today and crossed 20K for the first time making a high of 20008.15 however Nifty could not sustain the levels and closed below 20000 at 19996.35. Point number 1 is Closing above 20008.15 is important now to grow further. Second point it RSI in the hourly chart indicates that the index is overbought. On daily charts the indicates that there is some more legroom for Nifty to go ahead perhaps towards 20203 and 20400 levels in the medium term. Supports for Nifty are at 19867, 19720 and 19516. Final support for Nifty closing below which the trend can change is 19385 (Major Support). Some correction or consolidation before rampaging ahead will not be such a great thing for sustainable progress. There is long way to go but let us not get carried away. Alway have a feet on the ground approach guard your capital by by putting stop losses and guard your profits by putting trailing stop losses. In uncharted territories Stop losses and trailing stop losses will always prove to be your best friends.
NSE:NIFTY
by Happy_Candles_Investment
A proper Breakout above the mid channel resistance for NiftyNifty has given a proper Breakout above the mid channel resistance showing bullish momentum. 20,000 points on Nifty along with G-20 can be the theme for the next week. For this to happen there are 2 important resistances which Nifty has to cross. These resistances are 19867 and 19991. Supports on the lower side for Nifty in case the breakout fails will be at 19720, 19516, 19360 and 19223. Trend changes to negative in case we get a closing below 19223.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty looking Bullish but approaching a major resistance zone. Nifty is looking Bullish but approaching a major resistance zone. The zone between 19637 and 19680 is a strong resistance for Nifty. Once we get a closing above 19680 the channel towards 19764, 19811, 19866 and previous high of Nifty 19991 and new high will open up. Until then the supports for Nifty will be 19585 (Not a strong support) and 19492. The zone between 19469 and 19430 is now a strong support zone. Overall sentiment of Nifty is looking bullish but lot of sectors and indices are starting to look a little bit overbought on RSI so please keep your stop losses handy.
NSE:NIFTYLong
by Happy_Candles_Investment
Next 3 resistances very critical for nifty. Next 3 resistances very critical for Nifty to reach 20K levels. These resistances are at 19585, 19646 and finally 19680. Crossing these zones will trigger further euphoria in Nifty and we may see it go towards 19764 and it may even the previous highs. however lot of indices like small and Mid cap are nearing or already reached the overbought zones so investors should remain cautious and use trailing stop losses which can be best friends who protect capital and profits. Supports on the lower side are 19525, 19492, 19455 to 19421 zone can also be good support. Below 19421 the Nifty will again become weak and bears will try to regain the controls.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty delicately placed at Mid-Channel line support. Nifty delicately placed at Mid-Channel line support. Nifty closed below very important 50 days EMA support or the Mother line. 19196 to 19243 is the next support zone. Closing below 19196 will open the floodgates for bears and the next support level will be near 19024. Below 19024 the support zone will be between 18456 and 18861. So the negativity for Nifty looks empowering and impending. However in case there is a reversal from mid-channel line which looks little difficult but in case that happens resistances on the upper side are 19354 and 19405 which are the 50 and 200 Hours EMA respectively.
NSE:NIFTYShort
by Happy_Candles_Investment
Market is indecisive as it gave a perfect Doji. The market today gave a positive closing above 50 days EMA which was at 19285 which was a good sign but the candle that we saw today was a DOJI candle or a Perfect DOJI candle. This means that the market is indecisive. Only if the support at 19285 is held tomorrow or for the reminder of the week, Nifty can think of a recovery. Supports on the lower side for Market are 19285, 19229, 19145 and 19024. Below 19024 the market can fall upto the levels of 18861 or more. On the upper side the resistances will be at 19367, 19488 and 19587.
NSE:NIFTY
by Happy_Candles_Investment
Market This Week.Market Outlook: Nifty is delicately placed at a major support level which was this week’s low. If this week low is broken next week and we get a weekly closing below the same, we can see further weakness creeping into Nifty. Weekly closing of Nifty was not good and the closing was just below 50 Weeks EMA which is always a negative sign. The resistance for Nifty on the upper side will be at 19386, 19499 and 19586. Supports on the lower side for Nifty are at 19229, 19024, 188861, 18555 and finally 18421.
NSE:NIFTYShort
by Happy_Candles_Investment
Nifty's unsuccessfully attempts to break free for down trendNifty's unsuccessfully attempts to break free for down trend was successful in breaking one down trend but the next trend line and resistance near 19584 was too tough for it to conquer. As Nifty was unsuccessful in breaking the trend bears capitalized and brought the nifty below both 50 and 200 hours EMA. Now Nifty rests on delicate support of 19365. This is a weak support and if bears attack again this support may not hold. Next support for Nifty in such a case can be near 19310 and 19252. If 19252 is broken Nifty can yield control to the bears who may try to push it further down to 19164, 19050 or even below 19K by the end of this month. Resistances on the upper side 19437 (Strong Resistance now) followed by 19479 and 19538. But things look a little dull for weekly closing. In the Background Speech by Powell in US Fed Jackson Hole Symposium tomorrow will be key to future of global markets. Right now things do not look good as the signals are that US FED may continue with the Hawkish stand.
NSE:NIFTYShort
by Happy_Candles_Investment
19637 level is good support and Nifty may aim to go higher.19367 level is good support and Nifty may aim to go higher from here. Just below 19367 is 50 days EMA at 19281. Finding a support above 50 days EMA is a good sign and Nifty can aim for next resistance level of 19514 or even 19631 from here. Closing above 19631 will give a boost to Nifty for the targets of 19786 and finally it can again take an aim at allusive target of 20K. Supports on the lower side as mentioned will be 19367 and 19281. Below 19281 Nifty becomes weak again. But right now the jubilant mood of success of Chandrayaan 3 mission should only reflect in the market if not for the full weak atleast for tomorrow.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Just above Major Support Zone. Nifty is just above a major support zone if this support which is a very strong one is broken then we can see further weakness in Nifty. This week is crucial for Nifty. The supports for Nifty are near 19264 (Major Support). 19000, 18900 and Finally the zone between 18400 to 18372 (which seems to be a worst case scenario but is only if 19264 and 19000 are broken. (It will not be easy for bears to achieve this. On the upper side if Nifty jumps from the current support the resistances can be near 19513, 19631, 19786 and finally 19991.
NSE:NIFTY
by Happy_Candles_Investment
50 days EMA gave proper support. 50 days EMA gave proper support to Nifty supporting our MFSC Theory (Mother, Father Small Child Theory). Till Nifty remains above 50 days EMA all is good. Once / If the support is broken there can be panic and DII who are in the buying mode and supporting the index in every fall also might turn into sellers. That is not the case for now and 19299 and 19250 remain as major supports. Closing below 19250 can take us to the levels like 19079, 18894 and 18637. On the upper side if the recovery continues post major comeback on Monday, the resistances on the upper side are 19524 and 19657. Nifty very interestingly poised after a great fightback from Bulls who helped Nifty close in positive on Monday staging about 177 points recovery.
NSE:NIFTY
by Happy_Candles_Investment