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Morning Mantra - 22nd February 2023Dear All, It was a 2nd consecutive day yesterday, where we had observed Nifty taking a beautiful support at around 17800 once again. Besides, we had also seen a beautiful opening from Nifty yesterday. However, after reaching the level of 17920, the index had somehow failed to sustain the level and so consequently we got to witness a closing of just above 17800, once again. Nonetheless, we are still with our words that the level of 17800 will once again be a very crucial level for the Market to finally decide its trend. Moreover, we are still quite positive for the upper level of 18170 as the level of Resistance in Nifty, until it is above 17800. Also, in the meanwhile, continue being stock specific. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 21st February 2023Dear All, Once again Nifty had shown us the magic of the crucial support level of 17800, yesterday. As it made a low of 17818.40 and then had ultimately given us a closing of 17844.60 Well, as we had already mentioned that there’s a close fight going on between levels of 18170 and 17800. So, for now, an either side breakout or breakdown has become very necessary for the new trend identification. However, until then, continue being stock specific. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Nifty 20 Feb 23 to 24 FEB 23 Short ,Medium and Long TermNifty 20 Feb 23 to 24 FEB 23 Short ,Medium and Long Term Nifty closed at 17944 ( Prev close 17856) Neutral Strategy was given for Last two weeks and buy on dip for Medium Term & Long Term Investors for the past few weeks and to continue the same. Nifty touched a low of 17721 last week. Market may further move sidewards for few more weeks for decisive movement either upwards or downwards. RSI and MACD are in positive zone but Stochastic is near to over bought zone. Nifty short term Nifty will be in range bound from 17700 to 18268 in short term and Nifty support at 17819(0.5 fib old) /17785(feb22 high) /17716. The support for the last weeks is from a inclined red color trend line shown in the chart apart from the previous high and Fibonnacci Supports mentioned above. Nifty Resistance will be at 17900/18000(Aug high) /18109(sep high) / 18122(0.5 fib new) /18268 (Dec22 end Jan23 high) /18355(Jan22 High). Nifty will be range bound in medium term from 17300 to 18268. Like previous week, this support levels are shown in Green & Red thick Horizontal lines. Medium term target Nifty need to break decisively above 18268 to reach 18800-18900 in Medium term. support at 17566/17435(dark red color horizontal line) /17355(new low) /17314 MA200. Long term Target 19500/20500 still in intact. In case if it falls below 17300, then next support is at 16800, which will act as major long term support.
NSE:NIFTY
by karthikss
Nifty ends the week just under mid channel resistance. Some commentators in US are reflecting that during the FOMC in March 2023 can see US Fed hike rate by 50 bps. This move is anticipated based on US Inflation numbers which where worse than expected. Also there are some questions being asked about recovery of certain sectors in China which is still to come out fully from the COVID-19 grip. These two news items in general and US related news in particular purged the momentum Nifty was gaining since beginning of the week and we saw the index nosedive a bit on Friday. Nifty Supports remain at: 17913 (Major support), 17885, 17794, 17651 and finally 17353. Nifty Resistances remain at: 17976, 18031, 18134, 18181 and finally there will be a major resistance at 18269. Long Positions should be taken only after closing above 18269.
NSE:NIFTY
by Happy_Candles_Investment
Morning Mantra - 17th February 2023Dear All, Just as we had stated yesterday, about being very near to the level of 18170. Similarly, we did witness a high of 18134.75 in Nifty, yesterday itself. Also, finally today is the last trading day of this week, and it is indeed expected to be a crucial one. As so far, we have been fortunate enough to be witnessing a consistent closing of above 17800 for the past 4 trading days. Wherein, if we witness a closing of above 17800 even today, then our support level can be shifted from 17320 to 17800 in the upcoming week. So, altogether, today’s closing will play a very significant role in deciding a direction of Nifty’s momentum for the upcoming week. Whereas, in the meanwhile, continue being specific and keep following the Cherry Picking strategy. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
1
World's best index-NIFTYNo doubt, When Nations struggling with all sorts of crisis, our INDIAN-NIFTY roaring to leap. The only source of investment . Chart clearly explains that no more significant downside, as the 4th wave retraced closer to 18200. coming weeks are just to accumulate valuable stocks, Hence until Feb'23 17800 will be a good support level. the final wave of 5 has 5 components with zigzag moves, trade carefully ,with low targets, quick profiting new buying will emerge from March'23 after 5th of 5th wave. happy trading!!
NSE:NIFTYShort
by selvamB
NIFTY VIEWNSE:NIFTY Nifty has given a Break out from falling channel and also taken out the budget day high. The Break out is not at all convincing since the volume is missing. You can read it from the chart that last couple of days of moves were backed by low volume. It is rather looking like a short covering. Going forward Volume profile suggest stiff resistance at (18080 -18120) levels. Caution is advised and it is better not to chase the present up move. You can see that price is now at 0.618 levels and could face some resistance look for a pullback to 0.786 which is at 17800. A base has also been formed there, Which will also offer a good Risk/Reward NSE:NIFTY Hourly time frame VCP pattern is completed and given a break out above budget day high. As mentioned above the break out is not convincing. Wait for a pull back. Good Luck
NSE:NIFTY
by Vasu_devan
Morning Mantra - 16th February 2023Dear All, Finally we got to witness a beautiful breakout in Nifty, yesterday. Wherein, just as we have been repeatedly stating the level of 17800, similarly Nifty has shown us a beautiful and an expected bounce back therefrom. Furthermore, we are now very near to the level of 18170. Provided we keep witnessing a strong and a consistent closing of above 17800 throughout this week. Also, as per the current circumstances, we can see our support level of 17320 to be shifting to 17800 very soon. Above 18170, 18400 will be our next target. In the meanwhile, continue staying stock specific and keep following the Cherry Picking strategy. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 15th February 2023Dear All, Fortunately after yesterday’s trading session, we have once again witnessed a positive closing of 17929.85 from Nifty. Wherein, notably the index had taken a very beautiful support from our crucial stated level of 17800, yesterday. The same stated level of 17800, which is repeatedly playing a very significant role as a Resistance and a Support for quite some time now. Thereby, proving our notion to be absolutely on point, i.e., Resistance = Support = Resistance However, for now, we are still with our words that we need to witness a stable and a consistent closing of above 17800 for at least a week. As it is only then, that we may get a clear confirmation from Nifty regarding its decision to move towards the upper Resistance levels of 18170 and 18400. Besides, as per the current market momentum, the support level of 17320 now seems to be shifting to 17800. In the meanwhile, continue being stock specific and keep following the Cherry Picking strategy. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 14th February 2023Dear All, Once again in the yesterday's trading session, we had got to witness how crucial the level of 17800 has become for Nifty. Wherein a strong Resistance is being faced at this level. As even yesterday, Nifty gave us a closing of 17770.90. So somehow Nifty seems to be struggling at around this level of 17800. Therefore, it has now become very important for the index to crossover and to sustain above this level of 17800 for at least week. As it is only then, that the probability of witnessing the levels of 18170 and 18400, will increase. Until then we can see that it’s a crucial fight between the Resistance and Support where Resistance = Support = Resistance So, in this volatility we must witness a positive and a stable closing of above 17800, which will be on our radar. In the meanwhile, stay stock specific and follow the Cherry Picking Strategy. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 13th February 2023Dear All, As we told you on last Monday, about witnessing the formation of a Piercing Pattern on the weekly chart of Nifty, which was somehow indicating a bounce back in the Market. Fortunately, thereafter, we did witness a beautiful weekly closing of above 17800 in Nifty. So for now, with the support of 17320, the level of 18170 will be our Resistance level once again. Furthermore, the impact of the budget and the quarterly results are somehow indicating that there’s a huge probability of witnessing a beautiful rebound in the Market once again, from this level of 17800 towards 18170 and 18400. So in the meanwhile, along with being stock specific, following the Cherry Picking strategy will be a good idea here. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya