argang2806

argang2806

Nifty pulled back from the lows of 24750 but with a weak bias. Pull back upto 25400 to 25500 is possible within 2 to 3 days but still the range of 25600 is not broken , it is in bear trap. Probability for a second fall from the resistance of 25400 - 25500 is high which may push nifty to retest 24700 to 24800 level and may be further down in coming months. For...

argang2806

After 5 weeks of fall , NIFTY closed in green last week due to rally on Friday. Now it needs to sustain its momentum today which will make it bullish. Cross of 19600 level for NIFTY which is a strong resistance zone ( from option data also ) can push the NIFTY to a new high. Macro data of GDP 7.8% is also very positive. Downside 19200 is the major...

argang2806

Nifty is in a bearish trend. Fridays closing near bottom and near weekly bottom makes it strongly bearish. Moreover we saw Friday's fall with big volume with FII selling -4600 cr. All points to bearishness. Monday morning NIFTY can open higher but the level of 19400 is crucial to give it some strength for upward movement. Down 19240 is a strong support which if...

argang2806

Market is going to open Gap Down again with key support level between 19230 - 19300. Though market can try to retrace as done on Monday but the second retaste of support is always stronger than the first. Nifty will be bullish only if it closes above 19550 which is unlikely today. Intraday traders should understand the trend and try to trade more on bearish side...

argang2806

Nifty as seen has broken the channel it followed for last 2 months , below 20EMA , MACD -ve , FII figure mostly negative from beginning of Aug 2023 - enough evidence for its weakness. Immediate support for Intraday ranges between 19300 - 19240 . Going long is not advisable till Nifty crosses 19650 zone. Mostly we are going to see Gap Down opening. Intraday...

argang2806

Nifty at a very crucial junction as it took support from channel , 20 EMA and Fibonnaci Retracement . Breaking the zone of 19200 will make it negative for short term. Above 19600 , it turns bullish and will try to retaste 19800 range. So a decisive breakout from the range 19600 - 19200 with volume will give it a good move