Get started

Niftyview

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
Nifty 50 index: is this breakout sustainable?Greetings Fellow Traders, As we can see in this chart that Nifty was trading inside the Chanel down from past few days and since yesterday price broke that Chanel down and bounced on it few times...but will this be a sustainable breakout for further upside move? Well in my opinion that will be dependent on 17,950 As a resistance it's more prominent than that Chanel down...and for any sustainable upside move price needs to break that area... otherwise downside areas are mentioned in Chart... Good Luck 🍀
NSE:NIFTYShort
by AdilHussain731333
NIFTY- Will reach 18000 by monthly expiry???Observations: After trending upwards in NIFTY yesterday, today witnessed sellers opposes the price moving upwards, They are now poised to reach untested supply zones at 17700-17680 levels. However, buyers may lack the necessary power to push the price higher, and if any of the previous supply zones act as support, the price could move back upwards. It is recommended to remain on the buy side within the range of 17700-17680, as no significant retracement has been observed after breaking the supply zone at 17680 level. If this level acts as support, monthly expiry is expected to be bullish.
NSE:NIFTY
by IIT-Trader
1
NIFTY-Fall again from LH @17760 (Demand acts as Supply) ???The NIFTY index has once again risen, but it has formed a lower high at 17760, which is the same level as a previous demand zone. Interestingly, this same demand zone now appears to be acting as a supply zone, as evidenced by the fact that prices have fallen back to the 17560. If the price manages to break below the 17700 level, which is an internal supply zone, it is likely that this level will once again act as a supply zone, causing prices to fall further below the support levels at 17560-17520.
NSE:NIFTY
by IIT-Trader
1
Morning Mantra - 25th April 2023Dear All, It was an amazing day yesterday . Wherein, we had observed that after a gap up opening of 17707, Nifty had made a day’s low of 17612 and had thereafter made a sharp recovery from that level. Overall on the hourly chart of Nifty, we can now observe a head & shoulder formation . Wherein, the level of 17800 can be considered as its neckline . Above this level of 17800, we can see Nifty for the level 18134 approx in the near term. Until the time we witness a closing of above 17800, we are still with our words to keep following the Cherry-picking strategy with the stop loss of 17300 , as of now. Besides, the conservative players can go for fresh accumulation only after witnessing a beautiful and a strong closing of above 17800 . Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
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