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...
In the short Nifty looks little indecisive. I the medium term Nifty looks solid. Couple of Dojis after cup and Handle Break Out for NIFTY indicates some tussle between Bulls and Bears. Where Bulls have managed to or are trying to free Nifty from a two year consolidation phase where Nifty was mostly between 16000 and 18000. At the same time Bears are trying that...
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 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...
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...
Power of Technical analysis. So far, bottom of the channel is respected. Nifty took support at the bottom of the channel and is trying to bounce back. If we end in Green today and a little positive say above 18230 the rally will continue next week...Even if we get a closing above 18230 on Monday still it will be fine.
Nifty took support near 18115 and is trying to bounce from there on the way up 18235 to 18270 zone which wich was a great support will prove to be a strong resistance. If that hurdle is crossed Nifty can travel back to 18308, 18346 and 18384 or even 18400+ staging a V-shaped recovery. Before that happens it is important to cross 18235 to 18270 zone. Supports at...
What was depicted yesterday was very similar to what happened. Channel top proved to be a tough resistance to conquer and Nifty today rested just above mid channel line at18286.50 We had very accurately indicated the support at 18284. This is as precise as you can get with Technicals😌😊. Now What? We have this support or the next support at 18267. If 18267 is...
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 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...
Nifty is again at a crossroad. The following scenarios are at play now. Scenario 1) From this juncture it can go from Point A to Point C directly i.e. 18315 to around 18600 odd. Scenario 2) From this juncture Nifty can try to find it's major support and can go from point A to point B i.e. 18315 to 17500 odd. and then back to 18600 odd that is point C. ...
Today market was in a consolidation face. There is no exact direction of market, on the above side 18400 is major resistance and below 18200 is support.
Nifty had a fantastic rally which might hit couple of hurdles in the form of upcoming resistance zones. Resistance Zone R1 which is between 18283 and 18427. If this major hurdle is crossed there is another Resistance Zone R2 to be crossed which is between 18608 and 18715. Support for Nifty will be at 18130, 18049, 17966, 17848 and finally 17794.
Market Outlook For The Next Week: It was a volatile week which saw ups and downs. Downs mainly due to huge sell off in HDFC Twins due to the rebalancing news of MSCI Index. The fall also cooled down RSI which has come down substantially. Closing of Nifty well above critical support level of 18029 shows that strength still might be left in NIFTY to rally again a...
It was depicted earlier that something similar to Reverse Head & Shoulders Breakout is in Progress and that showed today. Next Resistances: 18270 and 18441. Immediate Supports: 18153, 18042 and 17966.
The 25bps rate hike by US Federal Reserves may test the strength of ongoing Nifty rally. Likely support levels are 18042 (today's low) followed by 17966 and 17888. Resistances on the upper side for Nifty are near today' high that is 18116, 18180 and 18252.