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.
Niftyview
NIFTY TRADE SETUP FOR MONDAYThere is uptrend in Nifty . If Market Opens above 17643 then we can Buy on dip with Stop loss 17540.
If Market opens flat then Sell Call and Put Both . For a clear direction market has to cross 17650 and sustain .
If market gap down Below 17545 ..then we can sell at rise with 17603 or aggressive 17575 .
Estimated Pathway.It is bound to react to supply zones, even the global indices have reached the supply areas and cannot proceed further without some selling in mid way and starting financial season of the year. Quarter results will make an impact for sure on the index but that is pretty far till now other than the buzzing headlines have already started. So as per me a little gap up will push Nifty Downwards and panic selling would be encountered. Other than that the long trendline also suggests it cannot move a long bullish move tomorrow.
Nifty Lower time countsHey guys subsequent to our previous analysis with dot targets I have observed this in lower time frame.
Please checkout the counts. It looks that iii of c has completed and we are in iv of c and it seems its making a triangle in the iv wave of c.
If it happens then breakdown from e leg of triangle may occur.
Thank you. Please visit profile for detailed profile and all the analysis made till now.
Whipsaw Must Happen.Nifty has entered the supply zones Cluster, it cannot go further no matter what ranges of Dow futures or FTSE openings try to escalate it. CE at this moment would be a disaster. Trendline breakdown would give you a better way out and short the 17200 strike price till it reaches at the end of Wednesday's closing.
IF PRICE ACTION IS WRONG THEN I AM HAPPY TO LOOSE MONEY.Go short, I cannot shout more. A little change of direction does not hurt a trend, a trend takes huge momentum which is missing till now, DJI for instance has just retraced back from risk aversion levels of crisis haphazard, nonetheless they have shifted to uptrend no doubt but India lacks that fundamental support from Foreign Investments and also our Domestic Institutions have filled their belly of buying equities as much as possible. The index has a bit more room in downtrend, smaller up ticks would occur for sure but at the end April is going to be a BEARISH month.
Sandwiched between Support and Resistance with positive biasNifty is perfectly sandwiched between strong support and strong resistance but the bias which was negative for most of March is fading. It is a very very critical day tomorrow. Nifty has already closed on Wednesday above a critical resistance of 17060 giving it a positive bias. Now the most critical resistances that remain to be conquered are 17137 and 17261. Above 17261 Nifty can race to 17408 levels where there is another critical resistance and that a big one of 200 Weeks EMA. Nifty closing the month above 17137 will be great for momentum to be carried forward to April 2023. If Nifty can close above 17261 it can be a momentum shift and Bulls can think of making a come back in April in that case. Strong Support on the lower side remain at 16825 levels.
Nifty forming Corrective wave formationNifty have completed one leg of down move and now forming corrective formation, as per analysis, it is wave 4 formation which generally retrace the wave 3 in the range of 38.2-50%.
Expecting it to be wave 4 formation because Nifty didn’t break the low of 16747 which is the First inducement on the Weekly chart
Nifty - 28th MarchMarkets behaviour today was in total range-bound. We saw both buyers and sellers in action. Be cognizant that the last hour selling was quick and appears like a panic sell-off. Sticking to the same view as yesterday, markets are still bearish but also be ready for a sharp recovery.
On the higher time frame the pattern looks like a bear flag. Hence trade safe on the both sides.
Please refer to the important supports and resistances on the chart.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by me and is solely for the purpose of knowledge.
Nifty to test 16600Current price action definitely on bear's side,
No wonder their short positions would fetch bountiful returns on this monthly expiry day
The running wave , Also third leg of expanded flat may took its 62% support@16600
Hope that all odds are over by this month, and any breach below 16600 is worst for NIFTY
Review and trading plan for 29th March 2023Nifty future and banknifty future analysis and intraday plan in kannada.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
Tomorrow might be a dropping expiry.Fibonacci Retrace tool is like a wonder in Century, I began to notice nowadays. So the Quadrants explained in the picture tells that the little but some bullish energies that have been lying near nifty option chain and FUTs, its because FIIs have lost most of their holdings in their sell outs and DIIs have to balance of their Balance Sheet before THE REAL EXPIRY OF FINANCIAL ACCOUNTS. But none the less GLOBAL powers are going in a SEESAW, Indices open higher due each other's end resulting cycle chain and mostly due to Dow Futures, then the Indices are hedged in shorting them because a lot of volume can be seen in Equity Shares. The weightage stocks take the Index Higher at that moment Hedge Funds short it and thats whats happening. So 31st March will be the day when this volume in equity will ran off and Indexes wouldn't fluctuate momentum like they have been. Lets hope today Dow returns negative because I have 10 lots of 17000 PE 6 April Expiry. :0