Niftytomorrow
NIFTY--Drop-Base-Drop Form??Nifty Observations:
-------->> After opening gap down ,showing bullish pressure but not able to fill the gap on upside.
-------->> Consolidation is observed .
-------->> Go short if price breaks 18070 level, for targets of 18020,17980,17960.
-------->> Expiry may limit the price movement in the range 18100-17960 levels.
Nifty Futures Chart Analysis for Friday#Nifty Futures Chart Analysis for Friday.
While global indices have been moving lower for the few days, But many major markets have shown strong recovery over the past day. However, when analyzing the US indices, it is still below the resistance zone. That's the only thing we have to say on the negative side of the market right now. Apart from that, our market continues to have a very bullish momentum.
Nifty Prediction for Tomorrow - 27 Aprilon 26th April 2023 Spot Nifty Closed at 17813.60 (+ 0.25%)
Pivot Level : 17784.18
Support Level : 17740.62/ 17667.63
Resistance Level : 17857.17 / 17900.73
Scenario 1 :- If Nifty closes any candle above 17863, we can enter in call option or buy futures for the target of 17950 with Strict Stop Loss of 17843.
Scenario 2 :- If Nifty closes any candle below 17770, buy a put option or sell futures for target of 17650 with very small Stop Loss 17792.
Scenario 3 :- If Nifty hits the stop loss in scenario 1 than ignore reentry in positive positive. Instead of positive, we can create negative position by buying put option or future selling with stop loss of 17875 for the target of 17650.
Pin Point Prediction Of Nifty For 23-2-23Hello Traders,
This fall of today was predicted yesterday . To make your trading easy Every day I predict trend and behaviors' of market in form of marking and predictions so that you trading can be easy. For more detail for tomorrow trading can be seen below.
NIFTY VIEWNSE:NIFTY Nifty has given a Break out from falling channel and also taken out the budget day high.
The Break out is not at all convincing since the volume is missing. You can read it from the chart that last couple of days of moves were backed by low volume.
It is rather looking like a short covering. Going forward Volume profile suggest stiff resistance at (18080 -18120) levels.
Caution is advised and it is better not to chase the present up move.
You can see that price is now at 0.618 levels and could face some resistance look for a pullback to 0.786 which is at 17800. A base has also been formed there, Which will also offer a good Risk/Reward
NSE:NIFTY Hourly time frame VCP pattern is completed and given a break out above budget day high. As mentioned above the break out is not convincing. Wait for a pull back.
Good Luck