Nifty has Formed Negative Divergence on Weekly chart and also closed below Monthly Resistance level of 11750. Nifty May Come down to fill the gap near 10700-10680 But entry near 10640-10650 Will provide us good risk reward ratio for 12000 Target.Risk Reward for this trade is 1:3
NIFTY Bank Index is comprised of the most liquid and large capitalised Indian Banking stocks. It provides investors and market intermediaries with a benchmark that captures the capital market performance of Indian Banks.
Nifty Bank has been rallying for weeks breaking all time highs at 28400 a few weeks ago. There is a very strong weekly demand imbalance created...
Nifty has just been rejected on the 11,760 1M Resistance after a relentless bullish run since mid February. It appears that since March 2018 the index follows an identical repetitive pattern, within the 11,760 1M Resistance and the 9,960 1M Support. Every time the index has rebounded on the 9,960 1M Support, a 1D Channel Up follows, which practically gives way to...
To put it into context first it is likely we are in the 4th wave of a multi decade sequence. This means that the flow for wave 4 is going to retrace towards 23.6% of the impulsive wave 3.
Very simply from the technical side, 9516 - 8128 are both in play with the global slowdown. Here expecting Indian Equities to remain under pressure.
Best of luck!
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Nifty Is in Strong Uptrend since mid march. Expecting Some Profit Booking Near 52 Week high of 11750 in this Week or maybe Next Week.11750 is strong resistance which would be difficult to cross as no fundamental trigger this week.Risk reward in Both trade is 1:2.Risk Only 1% of Your Capital.
Nifty is trading below 200 SMA and 200 EMA comfortably.
Near-Term Supports are at 10530 and 10330.
Resistance is currently at 10730 (200 EMA) followed by 10985.
Bullish scenario - only on a close above the 200 SMA which is currently at 10840.
The Nifty is losing upside momentum. Resistance has proven strong. I thought maybe the ascending triangle could be completed, but it appears to be failing. Whether we have one more leg up or not, one thing I know for sure. Indian investors who think some insurance company will keep the market from going down will be sadly disappointed. Insurance against declines...