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Nifty unable to break Hourly Channel top corrects. Nifty had reached channel top of the downward channel on hourly chart and was clearly not able to defeat it as evident in the chart and corrected wiping all the gains from yesterday's trump rally. Can it make one more effort to claim the channel top and defeat it is the question. Supports for Nifty remain at 24179, 24073 and 23816. Below 23816 the bears will feel empowered and can drag Nifty down to 23500 or 23200 levels. Resistances on the upper side remain at 24262 (Mother line resistance of 50 hours EMA), 24504, 24559 and finally father line of 200 Hour EMA at 24650. This will remain a volatile week with major shift in global policies and realignments, FED Rate decision and other Geopolitical events. Keep an eye on situation in the Middle East and Ukraine, Russia front. Positive news will have again empower bears and give another rally like Trump rally seen yesterday. Shadow of the candles is Neutral to negative again. Bond yield, Gold, Silver, Dollar index, Crude can remain volatile while NASDAQ and Dow are in the Optimistic curve. November month will in general will remain volatile and next one week will decide the fate of Indian markets. With FIIs still on selling side and DII on buying side looks like things will remain topsy turvy for Indian markets. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only and views are personal. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Analysis: How much more pain left? Where is the bottom?Nifty Analysis: 1) Today's low 23816 is very important level to watch. 2) Next support at 23502 (Father Line or 200 days EMA). 3) Final Major support near 23201(Trend line meeting point and 50 weeks EMA (Major Mother Line). 4) Closing below 23201 has potential to break the hell loose. 5) Resistance on the upside at 24145, 24320, 24506 and 24781 (50 days EMA-Mother Line). 6) Bulls can take control only after we get a closing above 24781. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Mother Line, Trend line and other resistnace up ahead to watch.Before Nifty can fly further there are some important resistances to be crossed in the near by zone are 24368 that is the high of Muhurat day, Mother line resistance at 24391, Trend line resistance near 24400. After closing above 24400, Nifty can quickly reach 24505 or even 24601 in a short time. Supports for Nifty are at 24280, 24239, 24172 and 24142. Final support for Nifty is in the range of 24069 below which bears can create further havoc. Shadow of the candle is slightly positive but FII's deep selling is making the investors vary and fearful this does not include DIIs as of now but below certain level even they can start to give in if things do not improve. Shadow of the candle is slightly positive.
NSE:NIFTY
by Happy_Candles_Investment
1
50 Hours EMA and Trendline resistance again stop Nifty progressAgain The Mother line (50 Hours Resistance) and trendline resistance threw spanner in the growth effort of Nifty. Till Mother line and trendline thereafter is not crossed we can't reach Father line resistance which is at 24853. Supports for nifty remain at 24307, 24173 and finally 24073. Below 24073 Nifty will become very weak and bears will spell further doom. Resistances on the upper side remain at the zone between 24448 and 24513 (tough to conquer Mother line and Trend line resistance respectively), 24613, 24730 and 24853. Above 24853 the critical resistance will be the zone between 24860 and 24971. Bulls can come back into the game after the close above 24971. Above 24971 Bulls can create an upward rampage. Tomorrow is a very critical day where Nifty going into November needs to close above 24513 or atleast above 24448. Signs are looking little difficult for Nifty with a negative shadow of the candle but festive buying can bring back the bulls in action hopefully. . To know more about Techno-Funda investment, Mother-Father and Small Child theory, Happy Candles Number read my book The Happy Candles Way to Wealth Creation. Gift it to yourself or your special ones this festive season. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
U shape recovery on cards for Nifty. There is a chance of U shape recovery on Nifty if it is able to beat Mother and father line resistance. Today we saw a swift recovery by Nifty after making a low of 24140. Nifty closed at 24466. That was a recovery of 326 points which is quite remarkable. The only negative point was the close which is 2 points below the Mother line resistance of 50 Hours EMA at 24468. With this close if we can get an opening above Mother line tomorrow and if Nifty sustains above it we can see further swift recovery till Father line of 200 Hours EMA which is at 24887 with a trend line resistance at 24613. Nifty Resistances remain at: 24468 (Strong Mother Line Resistance) , 24613(Strong Trend Line Resistance), 24887 (strong Father Line resistance), 24917 and 25204. Above 25204 Bulls can come back aggressively. Nifty Supports Remain at: 24349, 24173 and 24073. Below 24073 Bears can get very aggressive in dragging the market downwards. To know more about Mother, Father and Small child theory and it's correlation to stock price and 50 and 200 days EMA read my book. The Happy Candles Way to wealth creation available on Amazon in Paperback and Kindle version. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTYLong
by Happy_Candles_Investment
Technical bounce in Nifty today, recovery can be a long processToday what we saw can be called as technical recovery by Nifty in the process of bottom formation. Actual recovery can still be a long process. Bulls can be back inn business only if we get a closing above mother line of 50 days EMA that is at 24898. 24898 is a critical level because mid channel resistance for the current parallel channel as well as Mother line. Whether Nifty can weather the storm and move ahead is only a question which time will answer in the short term. Long term investors can see current situation as partial entry zone for large and mid-caps which have given a good result this quarter or are giving a good result. Supports for Nifty remain at: 23865, 23684, 23464 (Father line Strong support 200 days EMA) and 23626 (Strong Parallel Channel Bottom Support). Resistances for Nifty Remain at: 24492 (Today's high and strong Trend line resistance), 24679, 24898 (Strong Mid-channel and Mother line resistance of 50 days EMA), 25221 and 25623. Strong momentum and positive action has potential to take Nifty back to 26K+ levels. As on date even after strong resilience shown by Nifty FIIs are still on the selling side as they were net sellers of Equity worth Rs.3228 Crores. DIIs and Retail investors have been on the buying side at every dip. This is what is not allowing the Nifty to fall currently beyond 200 days EMA. Let us see who given in first. Very interesting tussle going on between FIIs and DIIs + Retail investors combination. Shadow of the candle for tomorrow is neutral to slightly positive but it is hanging by a thin thread. (Approach for long term should be cautious but positive. Approach for short term is still very cautious as we are not out of deep waters).
NSE:NIFTY
by Happy_Candles_Investment
Today we received first signals of bottom formation. Today Nifty gave first indication of bottom formation after a long time. Will the bottom hold is a question which only time can answer. Nifty staged good recovery of 107 points from the day's low that was a positive sign. MMI (Market mood index) for Nifty on Ticker tape shows that Nifty is currently in the Extreme Fear zone of 26.5. Usually good money is made when you buy in extreme fear zone and sell in extreme greed zone. The supports for Nifty for the next week remain at 24102, 24703, 23366 and 22821. Resistances for Nifty for the next week remain at 24408, 24547, 24714, 24996 and 25338. Above 25338 Bulls can come back into full action mode and can take Nifty towards 25656 in the best case scenario. The Critical Mother and Father resistance for the hourly chart are at 24547 and 24966. Critical Mid channel resistance is near 25338. Channel Bottom support is in the zone of 24102 to 24072. To know more about Parallel channel and my Mother, Father and Small child theory read my book The Happy Candles Way to Wealth creation available on Amazon in Kindle and Paper back version. You will learn a lot about Fundamental analysis, Candle Sticks analytics, Profit booking and behavioural finance from the book. The book is currently one of the highest rated books on Amazon in the financial analysis and strategy category. I assure you it will be worth every money spent. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Very weak candle more pain may be in store for Nifty. Today we saw a confirmation of a pattern similar to head and shoulders pattern. The pattern is not exactly the classic head and shoulder but it is similar which can yield similar break down results meaning more pain might be in store if next 2 support levels are broken. The low of August 5 that is 24055 will be vital zone for Nifty to take support and make a comeback. There are 2 weak supports before we reach that level. These supports are near support previous to that at 24407 and 24113. If by chance 24055 is broken the next support is there near 23811 followed by 200 days EMA (Father line) at 23428. Below this level there is pure bear territory as this chart is drawn on daily candle sticks. On the upper side the resistances that Nifty will now face are at 24711 (Strong resistance along with a trend line resistance). If this resistance will be crossed the next resistance is at 24879. By chance we get a closing above this level Mid channel resistance and Mother line resistance of 50 days EMA awaits us near 24995 and 25231 respectively. The Macros of Israel Vs Iran++, US Elections and China stimulus are the major factors affecting FII outflow. Indian Growth story remains intact sectoral churning near the bottom is a real possibility. Overbought sectors of Defense and PSU in addition to some Mid and Small caps are taking most of the beating. At some point their PE will become attractive and at some point their dividend yield will also attract investors. whether that point has arrived or will arrive soon is yet to be known. There are no signals of bottom formation as of now and Shadow of the candle remains negative.
NSE:NIFTY
by Happy_Candles_Investment
1
Mother Line Stopping moves to Nifty to go ahead.As you can see clearly from the chart with daily candles that mother line of 50 days EMA is stopping Nifty from progressing ahead. Nifty since October 7 is unable to close substantially above the mother line. This is the power of Mother line resistance. Trend lines are merging and Squeezing the Nifty with very less space left for it to maneuver. Nifty is at exact crossroads with possibility of Breakout or Breakdown at time later during this week. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. The Happy Candles Way to Wealth Creation is a book currently rated highest in the category of financial analysis and strategy on Amazon. Supports For Nifty are at: 24685, 24565, 24065 and Father line support of 200 day's EMA at 23417. (Below 23417 in unlikely situation of some major global escalation Bears will take total control of the market). Resistances for Nifty: 24858, 25017 (Mother line Resistance of 50 day's EMA), 25321, 25469 and 25634. Above 25634 bulls can come back to action. Disclaimer: There is a chance of biases including confirmation bias, information bias, halo effect and anchoring bias in this write-up. Investment in stocks, derivatives and mutual funds is subject to market risk please consult your investment advisor before taking financial decisions. The data, chart or any other information provided above is for the purpose of analysis and is purely educational in nature. They are not recommendations of any kind. We will not be responsible for Profit or loss due to descision taken based on this article. The names of the stocks or index levels mentioned if any in the article are for the purpose of education and analysis only. Purpose of this article is educational. Please do not consider this as a recommendation of any sorts.
NSE:NIFTY
by Happy_Candles_Investment
Nifty is trying to stage recovery but 3 big hurdles are nearby.Nifty has on Friday tried to stage a recovery. It ended up 287 points from day's low which was a remarkable feat. Now it is staring at 3 or 4 major hurdles before Bulls can come back in business. But well begun is half the job done. The three major resistances are at 24886 that is Friday's high, 24960 that is Mother line of 1 hour chart, and 25172 that is father line of 1 hour chart. To know more about Mother, Father and Small child theory read my book The Happy Candles Way to wealth creation available on Amazon in paperback and Kindle version. After 25172 the major hurdle will be at 25211. Closing above 25211 the bulls can try to take Nifty to higher levels. Support zones for Nifty will be at 24611, 24559 and 24466. If we get a closing below 24466 the bears can pull the Nifty further down and create more downside. Disclaimer: There is a chance of biases including confirmation bias, information bias, halo effect and anchoring bias in this write-up. Investment in stocks, derivatives and mutual funds is subject to market risk please consult your investment advisor before taking financial decisions. The data, chart or any other information provided above is for the purpose of analysis and is purely educational in nature. They are not recommendations of any kind. We will not be responsible for Profit or loss due to descision taken based on this article. The names of the stocks or index levels mentioned if any in the article are for the purpose of education and analysis only. Purpose of this article is educational. Please do not consider this as a recommendation of any sorts.
NSE:NIFTY
by Happy_Candles_Investment
Mother, Father lines and the trend line stopping NiftyEvery effort of Nifty is being stopped by mother line, Father line or the trend line. It shows weakness but the turnaround might be around the corner. The possible turnaround zones can be around 24915, 24684 or 24478. If we get a closing below 24478 bears can take over. Resistances on the upper side are 25045, 25088 and 25230. Above 25230 bulls can take a commanding position. Very delicately placed Nifty with a negative shadow of the candle. But some turn around can be expected within this week or the next when we get support from one of the zones mentioned above.
NSE:NIFTY
by Happy_Candles_Investment
Baby steps taken by Nifty towards road to recovery. Today we saw Nifty take first baby steps towards road to recovery. Nifty was seen rising from channel bottom in the hourly chart. One must note that formidable Mother and Father resistance are yet to be conquered. Nifty today was blocked by Mother line which is at 25140. Father line which is at 25262 is waiting to resist further progress of Nifty. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. If Nifty is able to conquest Mother and Father line, the next resistances will be at 25475, 25644, 25753 and 25875 before Nifty is able to regain 26K levels. Supports for Nifty will be at 24915 (Important Parallel chanel bottom), 24684 and 24478. In worst case scenario Nifty bottom currently seems to be near 23891. It is less likely that Nifty reaches here unless there is some escalation in Middle East or some other major global event.
NSE:NIFTYLong
by Happy_Candles_Investment
weekly closing below 25000 is not a good sign for Nifty. Weekly closing below 25000 is not a good sign for Nifty. Thus turning our short term outlook a little negative. Medium to long term outlook is still positive with a chance of further consolidation and correction. If by chance there is a macro event in the Middle East at this particular junction the chances of further consolidation or a 3 to 5% fall is also a clear and present. If there will be recovery it has to be next week or perhaps mid week. Another bout of missile or similar attack can bring volatility in Crude, USD and Gold. This can effect our market negatively. There is also a another stimulus package in line by China for revival of its economy. Already FIIs have migrated enmass to China. The saving grace has been DIIs buying every dip. If DIIs will come in selling mode, Retail can also sell enmass in panic. This post is not to create panic of any kind in investors. Fundamentals of Indian markets are strong. Reliance result is expected next week. That can be a turning point for good in the market if the results are good and there is no escalation in the middle east. The warning is given here so that you can place stop losses / trailing stop losses in a proper place. Supports for Nifty are at: 24804, 24416, 23818 and 22990. Below 22990 it will be bear territory. In such a scenario bears can drag the market further down to 21989 or 21197. Corrections are a part of progress cycle as they get PE ratios at an investible / attractive levels. Resistances for Nifty are at: 25026, 25426 and 25755 before Nifty gains 26K levels again. A lot depends on macro factors now and result of Reliance next week. Status Quo in Middle East, de-escalation on war front and good Reliance result can burst all bear efforts and can turn the market positive again. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Trendline resistance continues to halt Nifty. Closing BellThe trend line resistance continues to halt Nifty. Again today after making a high of 25134 Nifty saw selling pressure mostly again from FIIs. This time Nifty closed the day at 24998 below the psychological level of 25,000. This can enable bears to make Nifty test the support zone between 24932 and 24677. The resistance of Nifty are now at 25057, 25134 and 25204 Mother line resistance of 50 hours EMA and 25294 father line resistance of 200 hours EMA. Nifty continues to squeeze between support and resistance trend line and tomorrow can be the day when we can see either a proper upwing or downward move. Above 25294 Bulls will be very aggressive and drive Nifty upwards. Below 24677 Bears will be very aggressive and thrash Nifty downwards. Strictly do not trade/invest without keeping Stop losses and Trailing stop losses. Stop losses protect your capital and trailing stop losses protect your profits. To know more about stop losses, trailing stop losses, Profit booking and investment in Equity in general or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Which is available in Amazon in Kindle and Paperback version. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Mother & Father resistance on Hourly chart stops Nifty progressThe zone between 25234 and 25313 has resistances like Mother line, Father line and today's high. Crossing this zone will be important to cross for Nifty to progress further. If this zone is crossed the next targets or resistances will be at 25481 and 25687. Supports for Nifty are at 24932, 24667 and 24470. Below 24470 Nifty will become very weak. RSI median line at 43.59 is support and mid channel RSI at 50 will be the resistance. Shadow of the candle currently is neutral to positive. Nifty is squeezing between support and resistace trendline and can give a move in any direction tomorrow. Not sustaining the highs of the day was a negative sign but we all know taking mother and father ashirwaad (Closing above mother and father line is never easy when they are in resistance mode). Strictly do not trade/invest without keeping Stop losses and Trailing stop losses. Stop losses protect your capital and trailing stop losses protect your profits. To know more about stop losses, trailing stop losses, Profit booking and investment in Equity in general or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Which is available in Amazon in Kindle and Paperback version. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Good recovery candle by Nifty but Mother line yet to give way. Nifty gave a good recovery candle but Mother line resistance and mid channel resistance are yet to be conquered. the zone between 25052 and 25332 will play as a strong resistance as it contains resistances like Mother line (50 days EMA) at 25052 , Mid channel resistance around 25148 and a resistance from previous peak from mid september which is around 25332. Once this zone is crossed Bulls will try to take the market to the next levels which are 25481, 25657, 25992 and 26K+ again. The supports for Nifty remain at 24677, 24470, 24216 (channel Bottom support), 23942 and finally 200 days EMA or the Father line support at 23274. Below 23274 is all Bear territory. As we had indicated the market looked oversold yesterday there was a chance of short covering which happened today. Confirmation candle above 50 EMA tomorrow or later in the week will be an icing on the cake from where actual recovery can start. The candle formation today was similar to Bullish Harami pattern. (Harami in Japanese means Pregnant woman). Bullish Harami indicates shadow of the candle to be positive. The pattern can get confirmation only if the bullishness continues tomorrow and we have a positive closing of the week. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty again finds itself at make or break level. Mother father supports drawn on hourly candle are gone. Mid channel support is just breached. Shadow of the candle is negative. RSI finds itself at critical level in a pennant. Nifty is still oversold territory in the hourly chart. When everything seems lost we wait for the confirmation that Nifty can give about it's temporary bottom. The support for nifty as of now seem at 24667 Bollinger band bottom support, 24470, 24216 and finally 23942 level. Resistances for Nifty are at 24935, 25147, 25574 and finally 25740. The recovery might be around the corner we can expect a turnaround but probably towards mid-week, weekend or next week.
NSE:NIFTY
by Happy_Candles_Investment
Nifty looking weak after closing below Motherline. Nifty has today not respected 2 key supports that are daily Mother line support and Mid-Channel support. After making a high of 25485 Nifty closed at 25014 which is just below Mother line 50 days EMA at 25065. The candle is very weak and Nifty already looking as if in the tight grip of bears and there was massive selling at upper levels. However today's low seems to be a support level. If Nifty has to make a come back it should be during first half of next week. RSI support is at 39.82 and 26 which can be the turnaround zones, right now the RSI on daily charts is at 40.63. Nifty supports remain now at 24966 weak support, 24698, 24384 and finally 23874 Important channel bottom support. If channel bottom is broken (less likely) but by chance if it is broken the only support that will remain at father line which is at 23241. Reaching there will already be a mayhem but below that (again very less likely) the Nifty will shift totally into bear territory. Next week will be very important not only incontext of the remainder of the month but also in context of the last quarter of the year. Strictly do not trade/invest without keeping Stop losses and Trailing stop losses. Stop losses protect your capital and trailing stop losses protect your profits. To know more about stop losses, trailing stop losses, Profit booking and investment in Equity in general or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Which is available in Amazon in Kindle and Paperback version. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Do not panic button till Mother and Father supports not broken.The parallel channel tops will always be difficult to conquer. Children staying abroad and in far away places coming to meet mother and father once is a while is always a sign of a healthy family. Nifty coming to meet the mother and sometimes the father on daily chart is always a healthy sign. The reasons can be any: 1) SEBI change in rules. 2) Conflict between Israel and various other countries 3) Crude oil prices In the recent Past the reasons were incidents like: 1) Ukraine war 2) US Fed rate cuts 3) Covid 19 Outbreak Major Nifty support is near 25067 to 25040 zone as you can see in the daily chart Nifty is near mother line which is also coinciding with mid channel support and a peak support. This can be the probable turnaround zone. If this support is broken further supports will be at 24804, 24384. The zone between 23995 to 23612 is another turnaround zone as it can be the channel bottom support. 23223 is the final support of father line drawn on daily chart. Below this there can be actual panic in the market. Resistances for Nifty are now at 25439, 25665, 25836 and 26037. Above 26037 bulls will be in super power mode again. Bottom fishing time in premium/High quality/A+ category has arrived. Churn your portfolio around. New themes will soon emerge. Hold on / do not panic / sell stocks where you are in loss / use this fall to churn your portfolio. Strictly do not trade/invest without keeping Stop losses and Trailing stop losses. Stop losses protect your capital and trailing stop losses protect your profits. To know more about stop losses, trailing stop losses, Profit booking and investment in Equity in general or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Which is available in Amazon in Kindle and Paperback version. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty trapped between critical support and resistance.Nifty trapped and delicately placed between critical support and resistance. It is also facing a trendline resistance. More than these two factors the situation in the Middle East is also very delicate. Anything can happen at any point in time. Technical indicators are indicating a breakout or breakdown on either side with minute possibility of further consolidation too. So everything depends on the supports that hold and resistances that give way, if they give way. Nifty Supports are at: 25745 (Very important support where consolidation is taking place), 25595 Channel bottom support and 25409 is 200 hours EMA support or the father line). Below 25409 bears can be in commanding state. Nifty Resistances are at: 25829, 25879 (Major Mother line Resistance or 50 hours EMA Resistance), 25991 and 26077 will also be resistances when the Nifty decides to travel upwards. Strictly do not trade/invest without keeping Stop losses and Trailing stop losses. Stop losses protect your capital and trailing stop losses protect your profits. To know more about stop losses, trailing stop losses, Profit booking and investment in Equity in general or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Which is available in Amazon in Kindle and Paperback version. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
All around correction on the expected lines. After reaching a new pinnacle Nifty took a dip searching for substantial support. The Nifty which was overbought was looking for some consolidation. FIIs were mainly on the selling side. Sharp declines can correct RSI a lot like we witnessed today. The supports for Nifty now remain at 25794 (Important support level) which can allow Nifty to make a come back right from tomorrow. If not the next support levels will be at 25705, 25595. Below 25595 nifty becomes very weak and has only 200 EMA or father line as support which is at 25381. Bears take over the market below these levels. Resistances on the upper side for Nifty are at 25900 (Mother line resistance of 50 Hours EMA). Above that the next resistance will be 25991 and 26077. Above 26077 Bulls can come back to rescue above this level and take Nifty further to 26150 and above.
NSE:NIFTY
by Happy_Candles_Investment
Nifty on a record breaking spree approaches another channel top.Nifty again had a breathless run today and closed at 26216 after making a new all time high of 26250. the scope of growing further looks limited but with lot of large caps picking up pace and rotation from mid cap and small cap stocks towards large caps is helping the Nifty move further. FIIs and DIIs are both on a buying again probably indicating a move towards large caps. Heroes of the day today were Maruti Suzuki, Grasim and Tata Motors along with Bajaj Twins, M&M and Shriram Finance. Large cap banks did not much much but are not relenting as well. The parallel Channel indicates the channel top near 26443 with resistances at 26250 and 26338. Supports for Nifty is near 26029. Again the zone between 25865 and 25812 will be the most significant support as this zone contains the mid channel support along with Mother line support. The rally can turn bearish (Looks less likely as of now but you never say never) below 25282. Shadow of the candles look neutral to positive as of now. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
After making new ATH is it the time for consolidation?Three things can happen from here which usually happen when a new milestone is hit. Either Nifty can consolidate for a while, Either it can test supports till it find it's feet or it can fly ahead further. We should be prepared for either of the three happening. The best way for doing it is look forward to get new highs with feet on the ground. Feet on the ground will be having stop losses and trailing stop losses for your trade in place. Support level for Nifty are at 25863, 25668, Mother line (50 hours EMA) support of 25639, 25528, 25336 or even 200 hours EMA which is at 25170. The support zone between 25668 and 25639 is pretty strong. Resistances on the upper side are 26011 and 26114. Shadow of the candle is neutral to positive.
NSE:NIFTY
by Happy_Candles_Investment