Double Bottom Kind of structure is forming in Nifty but still it is delicately placed. If the levels of 22037 and 21912 are held which are a support zone and if the resistance zone of 50 and 200 Hours EMA which are at 22072 and 22144 are broken on the upper side we can see strength. Thus the support Zones for Nifty are at: 22037 and 21912. Below 21912 bears...
We saw a good fightback by Bulls today as the Nifty bounced back from just close to 50 days EMA but to ensure that this was the temporary bottom we need a confirmation candle to close the week. The Resistance for Nifty will remain at 22204 and 22311 followed by 22500 range. Supports for Nifty will remain at 21851, 21779 and 21614. Below 21614 again the bears will...
The Zone between 21905 and 21779 can be a support Zone for Nifty as it tried to make a recovery from the area near 50 days EMA which was near 21839. If by chance 21779 is broken the next supports for Nifty will be only in the region of 21614, 21284 or even 20971. Worst case scenario can be 20412 which is a 200 days EMA and the channel bottom. So further steep...
Head and Shoulders kind of pattern formed on Nifty hourly chart which is not a very good indication for rest of the week. Only saving grace which can support Nifty in this scenario is a trend line and Mid-Channel support which are in the zone of 22302 and 22255. If 22255 is broken and we get a closing below it tomorrow or the day after H&S Break down will be...
Nifty gave a weak closing today below 50 EMA (Mother Line). Which indicates that there can be more downside. However there will be support provided by the Mid-Channel support which is near 22263. If this support is broken further supports might be near 22129 (Trend line Support) or Father Line 200 Hours EMA near 22057. Resistances on the upper side for Nifty will...
Although various local and global Micro news and trends were indicative of Nifty rally fizzling out or making a top a strong undercurrent due to strong Macro factors is continuously providing undercurrent of positive bias to the Nifty and it keeps bouncing after every attempt to sell off. It will be interesting to see how much the Bull-Run can sustain further with...
Nifty will be gap up opening in today's session. After opening nifty sustain above 22500 level and then possible upside rally up to 22620 level in today's session. in case nifty trades below 22450 level then the downside target can go up to the 22330 level.
Nifty is fluctuating between Trend line 1 and Trend line 2 in the below chart. Trend line 1 forms the resistance and trend line 2 forms the support of Nifty. There is also a line in the middle of the two lines which will provide additional minor support for Nifty. The support for Nifty from here will be present at 22293, 22241 (50 Hours EMA support), 22061 and...
Nifty will be gap down opening in today's session. After opening nifty start trading below 22340 level and then possible downside rally up to 22220 in today's session. in case nifty trades above 22400 level then the upside target can go up to the 22540 level.
As you can see from the chart Nifty is continuously making higher highs and higher lows. There is a trend line 1 which is continuously supporting the Nifty. There is another trendline 2 which stops the Nifty while it is growing. As of now the trend is normal bullish within the trend line but if the trend line is broken on either side we will have a decisive move....
Nifty will be gap up opening in today's session. After opening nifty sustain above 22420 level and then possible upside rally up to 22540 level in today's session. in case nifty trades below 22370 level then the downside target can go up to the 22250 level.
Nifty will be gap up opening in today's session. After opening nifty sustain above 22060 level and then possible upside rally up to 22180 level in today's session. in case nifty trades below 22020 level then the downside target can go up to the 21900 level.
We witnessed a free fall in Nifty today across the sectors. While the Nifty is falling freely a major support level of 200 hours EMA is approaching. Coinciding with 200 Hours EMA (Father Line) support is a trend line support which is near 21865. What seems to be the reason behind the market fall seems to be SEBI advisory to the Mutual Funds regarding their...
Nifty will be gap down opening in today's session. After opening nifty start trading below 22090 level and then possible downside rally up to 21970 in today's session. in case nifty trades above 22130 level then the upside target can go up to the 22250 level.
50 Hours EMA Support came into action and saved the day for Nifty today. Usually 50 Hour EMA should be a good support for Nifty but if we get a closing below the same today we can see further fall which may lead the Nifty to next support levels of 21970 or 21885. 21835 is the next major support for Nifty as it is a 200 Hours EMA. If Nifty recovers from the 50 EMA...
Nifty will be gap down opening in today's session. After opening nifty start trading below 22180 level and then possible downside rally up to 22060 in today's session. in case nifty trades above 22220 level then the upside target can go up to the 22340 level.
Nifty will be gap up opening in today's session. After opening nifty sustain above 22240 level and then possible upside rally up to 22360 level in today's session. in case nifty trades below 22200 level then the downside target can go up to the 22080 level.
What we saw today in Nifty was a remarkable fight back by bulls after bears had yesterday made an engulfing of previous Two days candled. Not only that the Nifty ended at 22217 recovering from day's low of 21875 which is a strong 342 point recovery from day's lows. Yesterday there was a bearish engulfing but what we had maintained is that today's candle has to...