Get started

Niftysupportsandresistances

Nifty on Weekly chart delicately placed. (Medium Term Outlook)Nifty is placed delicately on a weekly chart. Shadow of the candle is slightly positive but as the closing of the year looms large FIIs and the Bears might again try to sell on rise. On the positive side if FII will be on the buying side for the 2025 beginning and create fresh positive positions we might see a positive rally on the upside. The supports for Nifty remain at 23532, 23271 and 22724. 22724 is a very important support below which we might see a free fall which as of now can range till 21302 or even 20587. However there does not seem any trigger as of now which can bring Nifty to this levels but you never say never. On the positive side if there is a fresh buying trigger and a positive rally overall the resistances on the upper side seem to be near 23901, 24300, 24881 and finally 25409. 25409 is a strong resistance and closing above it will not only open the doors for touching the previous highs 26277 but also push Nifty towards making new highs.
NSE:NIFTY
by Happy_Candles_Investment
Escalation in Russia, Ukraine war spoils the Nifty recovery Nifty was doing quiet well and had a strong momentum going forward. On the daily chart it had gone substantially above 200 days EMA (23541) and reached 23780. Three of things happened after that. 1) There was a massive escalation in Russia Ukraine war where Putin approved use of Nuclear weapons if required. At the same time news of Ukraine hitting Russia with ATACMS US made Long Range missile. (Bloomberg reports). This is a massive event with long global consequences. Which might be parting 'gift' from Biden to Trump. (Probably to create a difficult situation for incoming Trump). 2) Nifty hit 50 hours EMA or Mother line at 23770. As all who read my posts regularly, those who have watched my videos, taken training from me and Those who have read my Mother, Father and Small Child theory know the consequences of the same. The mother line acted on and pushed the Nifty down towards the doldrums again where it closed the day below (200 days EMA or Father line at 23541) at 23518. This is a massive jolt and only time can tell if Nifty can stage a recovery again on 21st November 2024, Thursday. As we have a holiday due to Maharashtra elections tomorrow. To know more about one of the most accurate Mother, Father and small child theory which makes your equity investment easy read my book The Happy Candles Way to Wealth creation available on Amazon in paperback edition. The same is available on Kidnle and Google Play book in E-Version. 3) Third possible thing was Bulls would not want to carry long positions with impending Maharashtra election results. The election is tough to predict with political mess in Maharashtra. Elections in India are anyway difficult to predict now a days. These reasons led to massive fall of 262 points. This fall can disharten the bulls as well making the upward recovery difficult again. Positive closing in Green is the only good thing that we can take forward from today's action. Supports for Nifty remain at 23350, 23110, 22796, 22499, 21890 and finally 21313. Below 22796 is a pure bear territory. Resistances for Nifty remain at 23629, 23770 (Major Mother line Resistance which blocked the up move today), Post that there will be Father line resistance of 200 Hours EMA at 24311. After 24311 closing or weekly closing bear can take a back seat and Bulls will have capacity to pull Nifty above 25012 or even 25351 and above. 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 Vs Moon Phases: How interesting is the chart?(educational)Look at the chart and the effect of moon phases on moves of Nifty. The dark circle resonates with the dates of no moon day and Grey circle indicates the day when we saw a full moon. Invariably in most of the no moon days as can be seen in the chart index is at the peak near no moon day. Then there is a fall seen in Nifty. Recovery starts in few days of Full moon day and then again Nifty makes a peak near no moon day? Is it just a coincidence? Well the chart says everything that I have to say but there is serendipity. If we go by this analysis the recovery in Nifty might be round the corner. Say tomorrow or may be first half of next week. RSI is currently on daily chart is at 37.9 with supports at 36.43 or 26.21 that was the lowest RSI in the last one year on daily charts. Bollinger band shows a support zone near 24430 range. That is the place around which we can expect the turnaround. Father line support is near 23389 which currently looks like a worst case scenario. Resistance for Nifty seems to be at 25033 and 25400. 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
5
Chart says JUST DO IT...Last year after the Ukraine was there was such a panic in the market. People were selling their precious shares at whatever price they could not expecting an adverse event or a fall is an adverse event in itself. In stock market there will be ups and there will be downs...Become a long term investor in Equity. Even the chart today says JUST DO IT as Nifty touches All Time high of 22619. At this juncture there is a very strong trend line resistance from where there was a drastic fall. The support levels indicated in earlier messages / posts were tested as the Nifty again jumped after taking the support near 22303. Nifty ended the day again finding itself trapped at 22514.65 which is a strong resistance zone indicated since many days between 22500 and 22530. Once Nifty gives a closing above this zone there will be strong bullish moves across the sectors. Until then Nifty Supports will be at: 22470, 22417, 22350 and finally 22164. Nifty Resistances will be at: 22520 to 22530, 22587, 22636, 22690, 22787 and 22830. In the long run investing in fundamentally strong stocks that are giving a technical is a great idea. So... JUST DO IT .
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty trying to form bottom after taking channel bottom supportNifty trying to form a bottom after taking channel bottom support. Nity touched the bottom of our hourly channel and trying to consolidate in the zone. Major support for Nifty from here will be 21405 (200 Hours EMA) (Father Line) and Channel bottom 21285. If 21285 is broken Nifty may fall further till 21089 or even 20967. On the way up major resistances that Nifty will face now are 21544, 21650 and 21715 (Major Resistance 50 Hours EMA). Also note that Mid channel channel resistance is also near 21740 region. So 21715 to 21740 will be major resistance on the way up. Nifty might try to stage a recovery tomorrow but let us see if the levels hold. Weekly closing is important with Geo-Political tensions rising between Iran and Pakistan. As well as Afghanistan and Pakistan.
NSE:NIFTYLong
by Happy_Candles_Investment