Hi,
Let us review the post-market report dated 30-09-22.
I said the Support and resistance for Monthly & Weekly Charts as follows.
Monthly Chart.
Resistance:R3-18661, R2-18084 & R1-17631
Pivot: P- 17313
Support:S1-16995, S2-16601 & S3-15964
Weekly Chart
Resistance:
R3-17462, R2-17270 & R1-17119
Pivot: P- 17012
Support: S1-16906, S2-16775 & S3-16564
Current closing point 17314. N50 has crossed and closed above the Pivot point in the monthly time frame and 78.6 % weekly time frame. As per the trend line (from Oct 21 High to Aug 22 closing), and Fib 61.8% resistance point is 17631in the Monthly time frame. This point must be a very crucial resistance point. If the Market sustained above this resistance point 17631, we may expect the bull rally to continue at 18600, until the N50 may trade range between 16800 to 17650.
Now we will look into the current short and near-term moments.
The Nifty50 opened a gap down of -45 paints and closed -17 points with a volatile of 120.4 points. Formed a Hammer candle in the daily chart
Illustrate the 15-minute chart, which opened at 17287 and went down to S3 17239, then it took support from there and moved upwards reached S1 level 17332, then was not sustained above this level and fell at 118 points below the S3 Level, then move up again to S1 level around 120 points, then finally settled below the S1 level at 17314.
Today’s swing was around 380 points.
The Fib retracement levels are drawn for the Daily chart, the support and resistance levels are as follows for tomorrow’s (10-10-22) trades.
Resistance: R3-17410, R2-17359- & R1-17318
Pivot & CPR: P- 17290, BC- 17277 & TC 17302
Support:S1-17261, S217226- & S3-17170
If Nifty50 is sustained above 17340 the bull run will take place and moves upwards further ready to retrace the level of 17400, then17550
If Nifty50 is sustained below 17270 the bear run will continue and be ready to retrace the level of 17220, then 17170.
So, we must be very careful to watch the above levels and do successful trade.
Disclaimer: Not SEBI registered advisers. It is my analysis of my experience. You may consult with your financial adviser for your action.
Let us review the post-market report dated 30-09-22.
I said the Support and resistance for Monthly & Weekly Charts as follows.
Monthly Chart.
Resistance:R3-18661, R2-18084 & R1-17631
Pivot: P- 17313
Support:S1-16995, S2-16601 & S3-15964
Weekly Chart
Resistance:
R3-17462, R2-17270 & R1-17119
Pivot: P- 17012
Support: S1-16906, S2-16775 & S3-16564
Current closing point 17314. N50 has crossed and closed above the Pivot point in the monthly time frame and 78.6 % weekly time frame. As per the trend line (from Oct 21 High to Aug 22 closing), and Fib 61.8% resistance point is 17631in the Monthly time frame. This point must be a very crucial resistance point. If the Market sustained above this resistance point 17631, we may expect the bull rally to continue at 18600, until the N50 may trade range between 16800 to 17650.
Now we will look into the current short and near-term moments.
The Nifty50 opened a gap down of -45 paints and closed -17 points with a volatile of 120.4 points. Formed a Hammer candle in the daily chart
Illustrate the 15-minute chart, which opened at 17287 and went down to S3 17239, then it took support from there and moved upwards reached S1 level 17332, then was not sustained above this level and fell at 118 points below the S3 Level, then move up again to S1 level around 120 points, then finally settled below the S1 level at 17314.
Today’s swing was around 380 points.
The Fib retracement levels are drawn for the Daily chart, the support and resistance levels are as follows for tomorrow’s (10-10-22) trades.
Resistance: R3-17410, R2-17359- & R1-17318
Pivot & CPR: P- 17290, BC- 17277 & TC 17302
Support:S1-17261, S217226- & S3-17170
If Nifty50 is sustained above 17340 the bull run will take place and moves upwards further ready to retrace the level of 17400, then17550
If Nifty50 is sustained below 17270 the bear run will continue and be ready to retrace the level of 17220, then 17170.
So, we must be very careful to watch the above levels and do successful trade.
Disclaimer: Not SEBI registered advisers. It is my analysis of my experience. You may consult with your financial adviser for your action.