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Niftytrendanalysis

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
NIFTY-Today bullish move created to exit the long positions??Observations: -------->>Nifty trending upwards, today it proves that it's a retracement not a reversal sign. -------->> Again showing bullish movement in nifty, witnessed buyers are still in control. today bullish move created to exit the long positions?? why don't we think sooo.... -------->>We suspect that if it is a false breakout in nifty above 18260 level , this time the fall will be below 18060 levels. -------->> At this point 18250 level, sellers are exists by showing a huge gap down , why don't we think of sellers may again push the price towards downside. --------->> If we consider these 2 levels, 18200 or 18100 they are not strong enough to push the price higher, so if price started falling it may clear all these levels, and we have an untested demand zone@17960 levels. NOTE: Is this false breakout above 18260. NIFTY- which level Holds 18200 or 18100 ??
NSE:NIFTY
by IIT-Trader
1
Nifty 08 May 23 to 12 May 23 Short ,Medium and Long TermNifty 08 May 23 to 12 May 23 Short ,Medium and Long Term Nifty closed at 18069 ( 18090) and touched low of 18042 Nifty touched high of 1827. Mainly followed the band resistance provided last week ( as mentioned below) due to awaiting of FED decision and followed by drop on last day due to HDFC stocks. Nifty small Resistances at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines) RSI ,MACD and Stochastic are at 62% fall from 75% So far Q4 have mixed results. Nifty- short term is Neutral to Long. Need to decisively close above 18274 to reach targets ext target at 184372/18465 ( fibonacci resitances) . Nifty small Resistances at 18111/18204/18274 Nifty support at 17869/177741 ( Previous Highs) and 17570/17530 (Inclined two trend line) Nifty Medium Term - Nifty need to break decisively above first target 18274 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890. Nifty Support at 17387- 17340/ 17180/17200/17252 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 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
NIFTY--Retracement is to Enter Long Again Not for Sell ??Observations: -------->>Nifty trending upwards (after a huge gap down means not to sell, its a retracement) ---------->>After a strong bullish movement, after breakout from 17800 levels, ----------->>Nifty gives larger retracement towards 18050 levels, this retracement is to enter again long with the momentum upside towards 18300,18500 levels. --------->> consider this an opportunity to enter long from these zones, not to enter for short. --------->>Nifty showing pressure on bearish side, but wait and enter for long here, leaving a demand zone @18000-17960 levels. Be on long side with the movement. NOTE: NIFTY- Bullish from this zone 18000-17960 ??
NSE:NIFTYLong
by IIT-Trader
NIFTY--Retracement or Reversal ??Observations: --------->> After a strong breakout in nifty @17800 level, no proper retracement is observed. --------->> If 18200 acts as resistance we will observe a retracement towards 17800 or 17500 levels. --------->> If price break 18200,we have an immediate resistance @18250-18300, a false breakout may happen here @18200. ---------->>Price wants to test the previous supply @ 17800 level which may act as demand zone to move the price towards upside for the targets of 18200,18500 levels in the upcoming weeks. --------->>This week price is ranging between 17950-18200 levels. Note:: Consider it as a Retracement not a reversal in NIFTY.
NSE:NIFTY
by IIT-Trader
1
NIFTY --Strong Support @17840 -17800 ?? or Reversal @17500Note: Strong Support @17840 -17800 will acts as support go long again from this levels to reach 18100,18200 levels. It is recommended to remain on the buy side within the range of 17800-17840, as no significant retracement has been observed after breaking the supply zone at 17840 level. If this level acts as support, weekly expiry is expected to be bullish to consolidation at (18100-18200). Observations: After trending upwards in NIFTY yesterday, today the price continuously moving upwards, They are now poised to reach untested supply zones at 17920-18100 levels. However,, and if any of the previous supply zones act as support, the price could move back upwards.
NSE:NIFTYLong
by IIT-Trader
So What is happening in Nifty? What to expect this week?Certainly the global headwinds in banking and inflation are rocking the markets all over the world. India with strong economic momentum is a bright spot in global economy but it is still feeling the effect and can continue to feel so in the short to medium term context. In the long run Indian story certainly looks at good valuation. As soon as US Fed signals for a Pause Indian indices will certainly pick up the lost momentum and range bound trading sessions. The pattern that is forming right now on Nifty is called Base Formation pattern and certainly in past whenever we have seen such patterns we see a 500 to 1000 point rally. At times the base formation pattern fails too and goes for further consolidation at a step below. The step below in this case can be 16747 level if this base breaks or 16347 level as we can read the chart right now. In case of taking off from this base the major resistance can be near 17543/17532 levels where we have 50 and 200 days EMA. If these levels are crossed the next resistance can be 18170 to 18260 range. If Nifty launches from here the relief rally can be seen. Next week and monthly closing above 50/200 EMA is required for rally to become significant in any way.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty ended the day just below 200 Hours EMA.The rampant run that Nifty started after making a base near 17255 has seen it make a high of 17799 and correct from there to close below 200 Hour's EMA at 17711(200 Hour's EMA is at 17716). Close above 17716 would have been great for the momentum to continue. Now that Nifty has closed below 200 Hour's EMA, Nifty probably will need a support to start next leg of Bull run. If by chance due to global factors Nifty can open with a gap above 200 Hour's EMA it can continue the bull run again with same momentum. Hourly RSI is at 65.7 which has corrected from 3 weeks high of 74.83. This also indicates need of little bit of consolidation before further bull run. Current squeezing pattern indicates peak 18100 or 18400 if the momentum continues. Important Supports: 17681, 17559, 17435 and finally 17255. Important Resistances: 17716, 17802, 17923 and finally 18007.
NSE:NIFTYLong
by Happy_Candles_Investment
Most choppy Day of The Year and where it can lead usWe saw one of the most choppy day of the year 2023 and it has brought us to a junction from where NIFTY can go either side the resistances on the upper side will be 17733, 17780, 17933 and finally 17982. Supports for Nifty will be near 17550, 17505, 17407 and final support of 17353. Nifty strongly rejected the level of 17353 and shot upwards although closed in Red (Negative) but this gives hope to investors that 'Hammer candle' formed during the penultimate hour of trade yesterday can turn things around. with US Fed Rate hike in expected lines IT will try to push the Nifty up. We all know what is pushing the Nifty downwards.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Trade Setup for 16th June - Expiry day Trade SsetupThe US Federal Reserve announced a 75-basis point rate hike on Wednesday, leaving the doors open for another rate increase of that magnitude, and US Markets rallied as investors looked favourably on the central bank’s tougher stance against inflation. The rate hike is in line with the expectations and has already been factored in and we can expect VIX to go down today. Intra-day After a sharp fall on expectations of a rate hike by the Fed, Index took support at 15,650 and is trading in the range of 15,650 – 15,850 with high volatility and a range break is required for a good move with momentum in either direction, else we may see a rangebound expiry today. The index is currently in the pullback phase after an impulsive down-move and can face resistance at 16,080 and 16,180 (Half Bat Pattern). Index is likely to open with a gap up around resistance and we will wait for 30-45 minutes before making any positions.
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by CodeViser