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NIFTY-Will Rise from this Support @17520-17580 range.The NIFTY has broken the previous strong resistance level 17800 If the same level 17800 failed to acts as a support level, so the price fall back to the untested demand zones at 17580 and 17520 level, which are considered strong levels of support. Observations: Additionally, as we have a monthly expiry this week, it is likely that the price will remain within the same range(17960-17500). Overall Trend is Bullish, observed a low is formed by breaking HL at 17730. Note: In summary, the previous resistance level(17800) has been broken and we can expect the price to rise to 17920-17960 ,if the range(17520-17580) acts as a support. However, the presence of a supply zone(17800-17960) and the upcoming expiry may limit the price movement, and we can expect the price to remain within the range of 17500-17900 for this week. GO long: Price breaks 17660 and gives pullback to 17520-17580,go long for targets of 17700,17800,17960.(Keep on buy side.) GO Short: price broken 17520 and retests to 17580 level act as Resistance go short for downside target of 17450. Keep an eye @ 17700 level where Buyers and sellers exchange.
NSE:NIFTY
by IIT-Trader
1
A major support zone got activated today. Market today saw tremendous selling in IT sector, Services and consumer goods. The market however saw a good recovery of about 132 points from bottom on the back of purchase in PSU, FMCG, Auto and some realty counters. Below the zone from where Nifty bounced today, that is 17574 which is near 50 hours EMA we will have supports near 17454 which is 200 hours EMA as well as mid channel support which is at the same level. The zone between 17529 and 17526 is again a major support as this zone has 50 and 200 days EMA. On the upper side we might face resistance near 17738 and 17782. The zone between 17847 and 17923 is a very strong resistance zone. We can have a range bound week or weeks unless there is some strong news or result which can either pull the index above 17923 or drag it below 17454 levels.
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY TRADE SETUP FOR MONDAY 17-04-2023The Nifty range for today is 17850-17725. We recommend a long position above 17865 with a target of 18000 and a stop loss at 17820. A short position is advisable below 17700, with targets at 17650 and 17600. In the smaller time frame, if the market opens above 17850 and sustains, then we believe that every dip is a buying opportunity. In this market, we prefer to sell Puts rather than buy Calls. If the market opens below 17830 and fails to cross 17850 in the first 30 minutes, then we recommend selling the 17800 Call with a stop loss at 17870. In the case of a flat opening, we suggest selling both Calls and Puts, marking the 30-minute swing high and swing low. We recently received a query about one of our analyses, with concerns about the capital required to sell. We use a simple technique provided by Icicidirect, such as selling the 17500 Call (ATM) and buying the 18000 Call, resulting in a margin requirement of approximately 40k. We recommend checking with your broker for more details. In conclusion, trading success is about finding a way and effectively managing risk and reward.
NSE:NIFTY
by ASHWINIKUMAR2101
Spot Nifty At A Critical Juncture.Market Outlook The Nifty is poised at a cross road and a critical resistance. Either it can defy the resistance and continue rising further or it can consolidate a bit in the range of 100/ 200 points on either side and consolidate it’s position. Nifty consolidating first and then rallying further will be more logical but Stock market is not the place which obeys reasoning and logic most of the times. Either it becomes too worried or it becomes too fearless and greedy. We investors try to find equilibrium and rationale in the place which often defies laws of consistency in the short term. In the long term everything works fine and falls in a deserving place. Spot Nifty Resistance Zones: 17851, 18004, 18126 and 18267. Spot Nifty Support Zones: 17780, 17713, 17532(Strong Short Term Support), 17311(Final Short Term Support).
NSE:NIFTYLong
by Happy_Candles_Investment
An Equation of the Financial Markets in form of an Endless Loop.Elliot Wave Theory claims that Markets form similar patterns of formations on smaller time frames that are visible on higher time frames, (higher/lesser degree). Crowd behaviour which the theorist defined for traders or market participants is predictable in a manner that it ought to cause a definite result after each sequential or circumventing interval. First half of idealised Elliot Wave is Motive Wave, which consists of 5 kinds of movements but majority are in the direction of higher degree trend (3) and 2 the even movements are retracements or corrections from that higher degree trend. For example on a Monthly chart there is an Upward Trend in the markets then at weekly time frame motive wave would have 1,3,5 actionary movements in upward direction and two corrective movements in downward direction. Motive Wave is further categorised with Impulse Sub-Wave and Diagonal Sub-Wave. Impulse Wave is the normal Motive wave whereas the Diagonal Wave forms consolidation in a channel at 3rd level. The Cycle that I have marked on the chart is Elliot Wave Bearish Cycle which consists of 5 Motive Waves( 15 levels of downward trend and 10 corrective retracements in upward trend) plus 3 corrective Waves as in form of 2nd phase or 2nd overall wave of the Cycle. In my calculative assumption the Corrective Waves are ending ending 18200 levels for nifty and began at 16850. I hope I could make this loopic concept a bit clearer.
NSE:NIFTYEducation
by INDEXKING0
7
How much more Fizz left in the rally? The main question that is springing in every mind is that how much more Fizz is left in the rally? Is it a genuine back to bull market rally or should we consider it a relief rally only? We will know only if the critical resistance are crossed in the coming week/weeks. Nifty Critical Resistances: 17639, 17720, 17804 (Major Resistance) ,18066, 18136, 18207 and finally 18292 (Major Resistance) . Nifty Critical Support Zones: 17515, 17482, 17402, 17309 and finally 17210.
NSE:NIFTYLong
by Happy_Candles_Investment