Channel of Nifty that leads to 19000 but there are lot of hurdles now. Some of the immediate resistances are near 18642, 18699, 18736, 18784 and finally 18887. Supports for Nifty are at 18584, 18552, 18508 and finally 18383. Things are evenly poised now.
The Nifty 50 Index (NIFTY) is extending the long-term Channel Up pattern that started after the March 20 2023 Low, when the 16750 Support held. The 4H MA50 (blue trend-line) is supporting for exactly 2 months and this week the technical Higher High and test of the 18890 Resistance (which is the All Time High) should be materialized. As you see, the similarities...
BUY ABOVE - 18510 SL - 18480 TARGETS - 18540,18570,18610 SELL BELOW - 18480 SL - 18510 TARGETS - 18460,18420,18380 Trade Safe & Happy Trading Guys This is only for educational purpose so TAKE YOUR OWN RISK REWARD
#Nifty50 trading setup for Monday. Critical levels from 18550 to 18588 are marked. I expect a gap-up breakout in Monday section.
Nifty has given a strong closing on Friday by closing above the Mid Channel line. The nifty has given a close just below a strong resistance of 18509. 18509 was high of Friday above which the Nifty could not close. One way to avoid this resistance would be to open gap up on Monday. If we open gap up on Monday above 18509 levels, the next resistance will be at...
HDFC bouncing off from supporting trendline. Possible targets 1740 and 1900.
Naukri Broke out of a Descending triangle pattern with good volumes, there is also a double bottom pattern currently forming with neckline at 4635. Potential Targets are 5610 and 6020.
Sunpharma broke out support trendline and retested, ready for more downsides
Tata power break out and retest of Channel, Ready for 224 and 235
Wipro Moving in a broadening Triangle, waiting for breakout or resistance.
NSE:NIFTY Possibility 1 (Blue color waves): Nifty is currently in Flat correction ABC. Ongoing phase is wave B, which should end around 18458 and then Wave C should start which takes Nifty back to the level of end of Wave A 18060. Also, it may happen that wave B extends beyond 18458 till 18570-18610 as part of expanded flat correction type ABC. Possibility 2...
The end of the day was good for Nifty as the Nifty bounced from the support given earlier which was at 18206. (Nifty went just below it 18202 Low of the day and bounced back substantially to end at 18321). The major resistances to conquer remain: 18324, 18382 and 18455. Supports on the lower side remain at: 18202, 18190 and the zone between 18075 and 18068....
Nifty Not sustaining above mid channel support not a good omen for the Bull run. Somehow Nifty has to make a comeback in next 2 or maximum 3 days and sustain above Mid channel line which is around 18413 mark. Right now Nifty als faced a trend line resistance which emancipates from previous top. The zone was too hot for Nifty to handle and it leaped back towards...
BUY ABOVE - 18340 SL - 18285 TARGETS - 18380,18460,18530 SELL BELOW - 18260 SL - 18290 TARGETS - 18200,18100,18050 Trade Safe & Happy Trading Guys This is only for educational purpose so TAKE YOUR OWN RISK REWARD
Nifty fin had formed a 100 points range from 19400 to 19300. The sustained breakout on the either side can give a 100 to 150 points momentum. But as market is in bullish zone, we will try to go 100% on the buying side and 25-30% on the selling side. market has created a very narrow range inside the blue trendlines. breakout is expected on the upside. Have a big...
Nifty is currently facing mid-channel resistance drawn on hourly candles chart. Taking support at the channel bottom Nifty rose today but was stopped by the mid channel line. Supports for Nifty remain at: 18267, 18240, 18206 and finally 18119. Below 18119 the major support will be 200 hours EMA at 18018. Resistances for Nifty will be at: 18341, 18389 and...
NSE:NIFTY possible view in coming week 22.05.2023 - 26.05.2023. Looks like today Nifty has completed (ii) of c. Also, RSI above 50 on hourly chart at the end of day resolves the previous RSI positive divergence on hourly chart. The view stays invalid if price moves above 18297 (top of wave b) before reaching end of wave c.
BUY ABOVE - 18200 SL - 18170 TARGETS - 18250,18290,18340 SELL BELOW - 18170 SL - 18200 TARGETS - 18100,18050,17960 Trade Safe & Happy Trading Guys This is only for educational purpose so TAKE YOUR OWN RISK REWARD