Nifty is good for Long haul and going towards new highs but there are few important resistances to be crossed before that can be achieved. The important resistances up and ahead are at 26010, 26110, 26277 and finally trend top above the previous ATH at 26347. The support for Nifty are at 25752, 25611, 25412 (Mother line support) and finally 25333. 25333 is an important turnaround point a closing below this will bring Nifty into bear grip. Things look ominous for an upsurge but as mentioned and seen in the chart there are few important resistances to be crossed.
To know more about Mother and Father line supports, Mother, Father and Small child theory, Trend lines, supports and resistances you can read my book THE HAPPY CANDLES WAY TO WEALTH CREATION. The book is currently rated 4.8/5 on Amazon. It is reasonably priced and it can work as a handbook to wealth creation through equity. It is a value for money book, do read it.
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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
To know more about Mother and Father line supports, Mother, Father and Small child theory, Trend lines, supports and resistances you can read my book THE HAPPY CANDLES WAY TO WEALTH CREATION. The book is currently rated 4.8/5 on Amazon. It is reasonably priced and it can work as a handbook to wealth creation through equity. It is a value for money book, do read it.
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 or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. 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. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
Trade active
Nifty today has crossed and closed above our First important resistance of 26010 as it closed at 26013. Now the next important resistance will be 26110 and ATH of 26277. Additional support now gained at 25906. The next support remains at 25752. Shadow of the candle looks positive. All the other support and resistance levels remain the same. Trade closed: target reached
One more target cleared now final resistance at 26277 remaining today we came touching close to the previous ATH of 26277 which works as a major resistance. Let us see if we can cross the same tomorrow or the next week. The resistance of ATH is not always easy to cross. Closing above previous ATH of 26277 is very important. If we get a closing above 26277 the next resistance will be at 26347. 26110 and 26010 are important support levels now. Shadow of the candle right now is neutral. A lot also depends on the potential announcements regarding Trade deal between India and USA. Things are delicately placed and we are in touching distance of new ATH can we do it tomorrow or the next week is the question. Also chances of huge profit booking are there once we reach new all time high. Nifty Very interesting placed. 
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.