Nifty 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....
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...
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...
Mid Channel Line providing a moderate support to Nifty in the second half of the day in last trading session. As you can see from the chart Mid-Channel line drawn on the hourly chart provided a solid support to the nifty as the Nifty jumped from 18531 to close near 18599. Supports nearby are now at 18531 and 18507. Resistance zone will be 18639 and 18667. Above...
Nifty 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....
Nifty 5 Jun 23 to 9 Jun 23 Short ,Medium and Long Term Nifty closed at 18534 ( 18495) and touched low & high of 18464 and 18664. Nifty closed marginally higher than previous week. Buy call was given on dip on 21-May-23. Last week there was a stiff reistance was given at 18620 and shown with Thick green Horzontal line. nifty faced that resistance as...
Nifty Closed well on a testing day, another test awaits tomorrow as the world awaits result of Voting in US Parliament to resolve Debt ceiling crisis. Global indices are down and awaiting the result eagerly. Support that spot Nifty has is today' low of 18483 from where the Nifty managed to recover today. The support may be tested tomorrow again. Just below it we...
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.
Nifty 29 May 23 to 02 Jun 23 Short ,Medium and Long Term Nifty closed at 18499 ( 18203) and touched low of 18183. Nifty touched high of 18509. Nifty clearly moved up decisively above resistances mentiomed below though it bottomed out to 18061 in the previous week. Buy call was given on dip on 21-May-23. nifty followed the band resistance provided for last...
If Nifty sustain the level of 18500 and spend time and break 18515, then 18550-1875-18600 If Nifty break down of 18500 spend time and break down 18450, then Nifty 18400-18375-18350 This video is for educational purpose and my personal view .We are SEBI registered Advisor,we only give the level on our practical trading experience. Kindly take the trade...
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...
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...
DIVERGENCE is when the price of a scrip is moving in opposite direction of an indicator, usually an oscillator. It acts as a warning that the price trend may be getting weaker. It does not necessarily mean that the trend will reverse. It could signal an exhaustion of the current trend, the beginning of a period of consolidation or a medium to long term...
Nifty on a 30-minute chart is looking very confident of staying in the upper half of the channel in which it is travelling. On last 3 occasions Nifty has jumped upon reaching the mid channel support of the mid channel line. Indicating that strength of the rally is intact so far. However, on the last 4 occasions when Nifty tried to cross the Channel top it was...
Nifty 15 May 23 to 19 May 23 Short ,Medium and Long Term Nifty closed at 18314 ( 18069) and touched low of 18100. Nifty touched high of 18389. Mainly followed the band resistance provided for last two weeks ( as mentioned below) and 3-4 days the resistance acted as support. Nifty support at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green...
Nifty 15 May 23 to 19 May 23 Short ,Medium and Long Term Nifty closed at 18314 ( 18069) and touched low of 18100. Nifty touched high of 18389. Mainly followed the band resistance provided for last two weeks ( as mentioned below) and 3-4 days the resistance acted as support. Nifty support at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green...
NIFTY is approximately 3% away from the top. Question on minds of most investors is: When will Nifty make a new high by crossing this Crossing this 3% hurdle. Crossing this 3% hurdle will not be easy in my opinion, unless all FII, DII and Retail investors participate in the ongoing rally. Rally has hit the resistance zone now. It was a good week but going ahead...