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Spotnifty

Channel Top Resistance Approaching For NiftyNifty has yet again reached the region from where channel top is near by. Channel top resistance can be in the range of today's peak that is 19595 to somewhere in the range of 19661. Supports for Nifty in case of fall will remain near 19464, 19422 (50 Hours EMA), 19360 (Mid-channel support), 19233 and final major support is near 19133. Closing below 19037 and channel bottom around 19000 will awaken the bares and will have potential to change the trend.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Delicately placed between support and resistance zones. There are three major supports for Nifty on hourly channel near the current level. The supports being at 19354, 19295 and 19232. Falling below 19232 will take spot Nifty to the levels of 19065 or 18894. Below 18894 Nifty becomes very week and final major support for Bulls will be at 18651. Resistance for Nifty will be near the levels of 19437 and 19523. Crossing and closing above this zone is difficult but if Nifty closes above 19523 channel top resistance will be in the zone of 19590 to 19610.
NSE:NIFTYLong
by Happy_Candles_Investment
2
Very Important Fibonacci resistance level approaching in Nifty.Very Important Fibonacci resistance level 19448 approaching in Nifty. If Nifty can sustain above it above 19450 the doors will open for next Fibonacci level of 20162. I dare say Nifty needs some consolidation and RSI needs some cooling down before the next big leap. RSI is right now 74.85 and as soon as it touches 80, Nifty will enter Overbought zone if already it is not overbought. Investors should take care of their trailing stop losses. Take care of their profits by putting proper trailing stop losses/ stop losses. If Nifty jumps the resistance and sustains 19450 well and good but if not there should not be loss. Loss in profit is ok if a trailing stop loss is hit but important thing is profit should not become loss in case of correction.
NSE:NIFTY
by Happy_Candles_Investment
1
The hourly Channel broken on the upper side. What Next?The hourly channel that we were following since last 2 months or more has been broken on the upper side due to the ongoing mad bull run. The question that comes to various minds is what next for Nifty or where next for Nifty. To answer that we go back to the daily chart and apply simple fibonacci levels. Fibonacci levels on daily charts suggest the following supports and resistances: Next Fibonacci Resistance at: 19448 followed by 20162 (Both have potential to be Major resistances with many minor resistances in between). Fibonacci Supports: 18887.6 (previous Peak), 18446 (Major Fibonacci support and 50 days EMA very close to it), 17856 (Another Mega Fibonacci support with 200 days EMA very close by).
NSE:NIFTYLong
by Happy_Candles_Investment
2
Momentum with Nifty, but it is approaching over-bought zone.Momentum is with Nifty, but it has reached or will soon reach the Zone which might be very close to the overbought zone. Relative Strength Index cooldown / consolidation might also be required for Nifty to scale further highs. If not tomorrow then later next week. RSI will do some catching up and Profit booking at higher levels like we saw towards the end of Wednesday can also surprise. Beware of the Bull trap in some shares with weak fundamentals which might also rise as if they are genuine dark horses. 19000-19020 is the resistance zone now. Top of the channel for current let of the rally can be 19080 to 19200 range. Support for Nifty is near 18945, 18887.6, 18839 and 18796. Bear right now are on Oxygen. Some signs of life can return only if Nifty closes below 18602. Till that time Bulls will be in firm control.
NSE:NIFTYLong
by Happy_Candles_Investment
3
Our Chart continues to work perfectlyAs you can see and we had depicted yesterday Nifty had taken a firm support at 18646 and the only now was upwards. Despite negative to Neutral US markets Nifty opened gap up above what was 50 Hours EMA, confirmed support of the EMA at 18742 for few hours and then marched ahead. The march of Nifty was halted by the Mid-Channel Line resistance at 18829 and that is where Nifty cooled down a bit to close the day at 18817.4. How is that for Precision? I hope you all are appreciating the efforts that we are putting in the analysis. What Nifty holds for tomorrow? If Mid channel line (18829) is conquered tomorrow and Nifty hold above it, we will be sooner than later looking towards re-approaching the All Time high of Nifty and probably this time around Nifty might even break it and make a new high. Resistances: 18829, 18840 and 18887.6. Post making a new high 18956 and 19018 can be very very tough resistances. Supports: If the Nifty is not able to conquer 18829 to 18840 range and sustain above it the supports will be at 18795, 18742, 18646, 18576 and 18421.
NSE:NIFTYLong
by Happy_Candles_Investment
18646 giving a great support can the rally re-launch from here?18646 giving a great support can the rally re-launch from here is the question now. Usually when index or the stock finds a proper support and investors feels confident about the support, there is a possibility of restart or re-launch of the rally from that region. Whether rally will be successful like the previous phase will remain the question. However if the rally re-starts the next resistance will be near 50 Hours EMa that is 18733. Crossing 18733 the most important ATH resistance zone of 18795 to 18887.6 awaits Nifty. Supports at the lower side remain at 18646, 18562 and finally the bears wake up if 18421 is broken.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Dives below 50 hours EMA After Failing to Conquer ATH. Nifty Nose-Dived below 50 hours EMA After Failing to Conquer All Time High which was within the touching distance. The factors responsible for the fall can be attributed to Hawkish stance of FED before July FOMC. Hawkish stance of global Central banks and Profit booking near all time high. Relative Strength Index of Nifty (RSI) also needed some cooling down. 50 Hours EMA is working as an important resistance now and today low of 18647 will be important support for Monday. If the support at 18647 is broken Nifty can languish upto bottom of current channel and 200 Hours EMA which is near 18554. If Nifty closes below 18554 final support for Bulls is near 18421 closing below which bears will spring back to life.
NSE:NIFTY
by Happy_Candles_Investment
2
The Zone around ATH is proving to be a tough resistance. The Zone around 18862 and ATH of 18887.6 is proving to be a tough resistance to conquer. Nifty has so far made multiple attempts but has not been successful so far this week after coming in the touching distance couple of times. Once ATH resistance is crossed the next resistance will be near 18953 and 19018. But before we get there Nifty might again take a dip in search of a proper launchpad for that leap of faith. Global markets are expecting a hike by FED again in July FOMC as the action was PAUSE but commentary was hawkish. If that remains the case little bit of correction can also happen in Nifty. In such a scenario the supports this week will be 18827, 18790, 18756 and 18660. Below 18524 bear will try to snatch back control. Possibility of that happening is difficult this week. But we never really know.
NSE:NIFTY
by Happy_Candles_Investment
The Question is When will Nifty Hit the All Time High? Nifty staged dramatic recovery in the afternoon today and covered shorts shocking the bears who were thinking of staging a comeback. Nifty hourly candle took support at 18660 and staged a mighty comeback of about 156 points to end the day at 18816 which is just below the resistance zone of 18842 and 18865. Final resistance will be 18887.6 which the the all time high of Nifty. Supports for Nifty are near 18790, 18752 and a strong support of 18726 followed by supports at 18660 and 18500. So the answer to the question The Question is 'When will Nifty Hit the All Time High?' is very soon. It can be later this week it can be tomorrow.
NSE:NIFTYLong
by Happy_Candles_Investment
2
Again invariably Mid-Channel line comes to rescue. Again invariably Mid-Channel line comes to rescue as the NIFTY failed to make new All Time High today after coming very very close to the top. When you are near the top or while bottom is forming volatility will be at it's peak as near the top there will be profit booking and near the bottom there will be loss boking. Spot Nifty Supports and resistances are as under: Nifty supports: 18717, 18637, 18555 and finally 18482. Below 18482 Bears will come out of coma and will try to regain control. Nifty Resistances: 18784, 18826, 18865 and finally 18887.6 (Previous Top). Top of the current channel can be between: 18887.6 and 19020.
NSE:NIFTYLong
by Happy_Candles_Investment
Gap-up above Mid-Channel line & sustaining above it is a big +veGap-up above Mid-Channel line & sustaining above it is a big positive which most probably will take is to the channel top or near the channel top. Right now the resistances in front of NIFTY are at 18728 and 18778. Supports for Nifty are now same Mid-Channel line 18639, 18555 and 18465. Things look Bullish, positive and vibrant as of now...Looks like Nifty will try to give it a shot to reach All Time High...
NSE:NIFTYLong
by Happy_Candles_Investment
Importance of mid channel line in parallel channel tool. Last 3 weeks or so we saw the Importance of mid channel line in parallel channel tool. Thrice Mid channel line supported the Nifty and Nifty bounced from there. When a support is taken multiple times mostly it becomes weak. This led to fall of Nifty below Mid channel line. Once the price is below the line which was a support. The line becomes a resistance. Mid channel line is now a resistance and the same line is stopping Nifty from going ahead since couple of sessions. It was an important lesson hence explaining at depth. Nifty Resistance remain at: 18624, 18678, 18722 and 18778. Nifty Supports present at: 18555, 18512, 18465, 18402 and finally 18371.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty retreated after coming within touching distance of ATHNifty retreated after coming within touching distance of All time high. Perhaps it will check the box after one more push or rally within rally. Within every Bull run there are phases where Index or a stock cools down its RSI (relative strength index). Similarly Within every bear run there will be phases when market will be oversold and stock rises to balance RSI. This particular fall of Nifty can be considered one such pullback within the bear run. The Bull run reverses or bears take over if Nifty gives a daily closing below 18169.(This will be key major support). Other than that support and resistances are as under: Nifty Supports: 18555, 18512, 18465, 18402 and 18354. Nifty Resistances: 18601, 18649, 18721 and finally 18778.
NSE:NIFTY
by Happy_Candles_Investment
Again Mid-Channel Line and 50 hours EMA rescue Nifty again.Again today 'Mid-Channel Line' coming to rescue Nifty on hourly chart. Mid channel line and 50 hours EMA where both near each other and formed a dual support for Nifty and rescued it from falling further. Falling below 18581 will decrease the strength of rally and in this case the Nifty can fall more towards 18495 and 18433. it looks line Final support for ongoing bull run is near 18336. Resistances for Nifty are near 18649, 18690, 18721 and 18778.
NSE:NIFTY
by Happy_Candles_Investment
1
Nifty Closed above imp resistance, holding above it important. Yesterday we had given 18721 as an important resistance for Spot nifty. Today it has closed just above it which is a good sign. It was not a strong close but it was a good close. Key Resistances now are 18778, 18824 and previous All time high of 18887.6. Supports for the Nifty will be at 18721 it is a weak support as of now. 18683, 18639 and 18572. Relative Strength Index of Nifty is above 73 and the chart is going in the area again where Nifty will soon if not tomorrow require a little bit of consolidation or cooling down.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Trapped between strong support and strong resistance zonesNifty is trapped between strong support and strong resistance zones right now. Resistance zone is between 18639 to 18667. Support zone is between 18561 to 18582. Other supports if this zone is broken will be near 18522, 18507 and 18415. If the Nifty breaks the upper side resistance of 18667 the next resistance levels will be at 18721, 18778 and finally 18887. Trend changes to negative below 18262 closing.
NSE:NIFTYLong
by Happy_Candles_Investment
1
Good Closing on Friday, positive to start the new week expected.Due to Good Closing on Friday, positive to start the new week can be expected. We might have a positive gap up start on Friday if there is no negative news on the global or local level during the weekend. The resistances to look forward to are 18600, 18662 and finally 18742. Long term targets are 18887 and 19200+ levels. Supports at the same time remain at 18488, 18325 and finally 18048. closing below 18048 has potential to handover the control of the rally to the Bears.
NSE:NIFTYLong
by Happy_Candles_Investment
4