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Niftytradesetup

Nifty preceisely stopped at the indicated resistances yesterday.What was depicted yesterday was very similar to what happened. Channel top proved to be a tough resistance to conquer and Nifty today rested just above mid channel line at18286.50 We had very accurately indicated the support at 18284. This is as precise as you can get with Technicals😌😊. Now What? We have this support or the next support at 18267. If 18267 is taken down we can further fall to 18190 or 18140. (Next support levels.). You can also see in the previous and current chart that invariably Mid channel line has proven to be support and NIFTY has bounced from here 4 times previously. So Let us hope we get a support from mid channel line and we can bounce from here. If we bounce from here next resistance will be 18340 and 18384. Interesting day tomorrow to see in which direction the NIFTY goes.
NSE:NIFTY
by Happy_Candles_Investment
Nifty 15 May 23 to 19 May 23 Short ,Medium and Long TermNifty 15 May 23 to 19 May 23 Short ,Medium and Long Term Nifty closed at 18314 ( 18069) and touched low of 18100. Nifty touched high of 18389. Mainly followed the band resistance provided for last two weeks ( as mentioned below) and 3-4 days the resistance acted as support. Nifty support at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines) RSI ,MACD and Stochastic are at 69%, 210 and 92% KN Election results will play small setback in the indices, might drop to the the support level provided in the coming week in initial trading sessions. However after small consolidation it will again try to attempt to surpass 18465/ 18600 /18900 in the Medium term. Nifty- short term is Neutral to Long. Need to decisively close above 18274 to reach targets ext target at 18437/18465 ( fibonacci resitances) . Nifty support at 18111/18204/18274 Buy on Dip Nifty Medium Term - Nifty need to break decisively above first target 18274 to reach next target of 18437 ( Fibonacci 0.786 Retracement)/ 18640/ followed by prev high 18890. Nifty have multiple support for Medium Term - 17865/17741 ( Previous Highs) and 17560 ( April Low) Below that 17387- 17340/ 17252 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 17208/17180//17000 long term support at 16746 ( Sep22 Low) Long term Investors can accumulate following Mutual Funds NIFTY 50 Equal weight Bank Nifty Nifty IT (Buy on dip)
NSE:NIFTY
by karthikss
3
NIFTY-Trendline-Retest-Gap Down ??Observations:: GAP DOWN opens ---------->> Price broken the trendline and observed a strong fall, and retest is observed at trendline @18340 levels. ---------->> Previous supply zone @18200 level resist the price to go down. If tomorrow price breaks this level, we will observe a strong fall towards 18120,18060 levels. if price again breaks 18200 levels, 18120 level acts as a pullback to 18200 level, at this level previously strong sell off is observed, here (18200-18120) if again strong push to the down side happens price falls below 18060,up to 17960 levels. ---------->> we have an untested demand zone @17960 will push the price upwards again. ---------->> Be careful at (18200-18120) and 18060 levels.
NSE:NIFTY
by IIT-Trader
NIFTY--Breakdown happens ??Observations:: ---------->>Price opened gap up and observed a strong fall + consolidation. ---------->> Previous supply zone (gap down) range @18260 level resist the price to go down . If tomorrow price breaks this level, we will observe a strong fall towards 18200,18120 levels. if price again breaks 18180 levels, 18120 level acts as a pullback to 18180 level, at this level previously strong sell off is observed, here (18200-18120) if again strong push to the down side happens price falls below 18060,up to 17960 levels. ---------->> we have an untested demand zone @17960 will push the price upwards again. ---------->> Be careful at (18200-18120) and 17960 levels. .
NSE:NIFTY
by IIT-Trader
Short/Sell Nifty50Nifty50 has been rallying for a while now and has entered overbought territory. Its reversal is not far. There is an inverse correlation between USDINR pair and Nifty50. now you can see from the charts below the USDINR pair is making a falling wedge which breaks to the upside and Nifty50 has been moving up in Rising Wedge which breaks to the downside. So, this could be a good trade opportunity for Nifty50 and a swing short trade. Also, Fundamentally DXY is making a long-term bottom and will rise in coming weeks, months which will cause further strength in the USDINR pair and fall in Nifty50. To Read my analysis on DXY go to the link below the post. If you like my content then please boost and share this post. I have over 6 years of trading and investing experience and have learned a lot in this time. I like to share what I have learned. If you would like to learn from my experience then follow me on trading view to get notified on my trade, market projections and several upcoming technical analysis and in-depth tutorials on technical Indicators. You can also leave a comment and let me know if you want me to look at any specific asset or want to learn about any specific topic in the world of Technical Analysis. I Will do my best to create a post for it. Keep learning and Happy trading All.
NShort
by zakoraio