After the much awaited break out of Nifty which was playing in the range between 17900 and 16900 it is the time for the strength of the rally to be tested. Nifty has to battle some important resistance next week to sail further upwards. All eyes will also be on FOMC meet of US Federal Reserves on 2nd May 2023. I don't want to sound pessimistic but everyone should...
Greetings Fellow Traders, As we can see in this chart that Nifty was trading inside the Chanel down from past few days and since yesterday price broke that Chanel down and bounced on it few times...but will this be a sustainable breakout for further upside move? Well in my opinion that will be dependent on 17,950 As a resistance it's more prominent than that...
Look at the yellow circle. The blue line is exactly where the Nifty stopped. That is a strong resistance crossing this resistance we may face next resistance at 17863. Supports on the lower side are the same are 17552 and 17532. If 17532 is broken we may see the levels of 17467 and 17198. For Now everything looks good. Above 17863 we will see resistance near 18092...
Nifty on the back of momentum in Small and Mid cap stocks combined with some good results is taking Nifty higher after a week of consolidation. If 17863 is taken down we may see the rally continue to upto 18092, 18360 and above. 17532 to 17552 are strong supports as the levels are 50 and 200 days EMA. If 17532 us broken the other supports are near 17467 and 17198 levels.
We have a Correction as of now, Price is marching towards the Daily Demand formed @ 17482.05 (SHown in the Chart), This is the Demand area where the FIIs have their unfilled orders, Currently Price is in a Powerful 4H Supply and Price should decline from this area itself hence Buying 17800 PE for April Expiry with a Target of 381.50. CHEEERRRRRSSSSSS!!!!!...
50 and 200 days EMA have been providing a critical support to Nifty all throughout the week. 50 and 200 days EMA stand at 17544 and 17530 respectively. This zone has provided support to the Nifty almost on all days of the week proving that it is the most critical support. If this support is broken Next support for Nifty will be only at 17406 and further down at...
With the result from Big Daddy of Index Reliance tomorrow Nifty is again staring at the cross roads but with a positive bias. Reliance has a weightage of 10.54% in the index and a good result can make the day or week for the Nifty or break it. Nifty is poised just below 50 hours EMA which is 17630 so the line will act as a resistance. If we get a gap up opening...
Recently Nifty on 10th April gave a channel Breakout. Since the negative channel upper limit was respected in last 4 months or so this breakout was a major first step towards up trend. Since it was a major breakout Nifty is trying to look back and test it's support zone before it can fly ahead. Major supports zones from where Nifty can re start the up trend again...
Market today saw tremendous selling in IT sector, Services and consumer goods. The market however saw a good recovery of about 132 points from bottom on the back of purchase in PSU, FMCG, Auto and some realty counters. Below the zone from where Nifty bounced today, that is 17574 which is near 50 hours EMA we will have supports near 17454 which is 200 hours EMA as...
Price has started making Higher Highs which denotes an Uptrend, currently Price is giving a correction in the downward direction which again sigifies the Impulse Wave is in Uptrend and hence Uptrend is confirm. Price has this Fresh Demand formed in The Daily chart which synchronises with the Weekly Demand as well, hence this is a Trade Zone in Daily with a...
Market Outlook The Nifty is poised at a cross road and a critical resistance. Either it can defy the resistance and continue rising further or it can consolidate a bit in the range of 100/ 200 points on either side and consolidate it’s position. Nifty consolidating first and then rallying further will be more logical but Stock market is not the place which obeys...
Nifty Outlook: Nifty Looks good for a long haul in the long run. In the short term though Nifty seems a little bit of consolidation before it heads further. RSI on hourly chart shown a need of little bit of strength through consolidation. Which means we may see little bit sluggish end of the week tomorrow as Nifty is already in the resistance zone. This zone...
Nifty has reached the zone where the strength of current rally will be tested. The zone between 17700 and 17797 will be strong resistance zones for Nifty. Only if the rally has genuine strength it can cross this zone. If this resistance zone is crossed the next resistances will be at 17923, 18038 and 18137. Supports for Nifty remain at the levels of 17597, 17533,...
The main question that is springing in every mind is that how much more Fizz is left in the rally? Is it a genuine back to bull market rally or should we consider it a relief rally only? We will know only if the critical resistance are crossed in the coming week/weeks. Nifty Critical Resistances: 17639, 17720, 17804 (Major Resistance) ,18066, 18136, 18207 and...
Nifty has come at the doorstep of Major resistance zone. This is the region between 17586 and 17812. This Zone is full of small and big resistances for Nifty. Momentum of Nifty is good but it will take some major effort in crossing this most important zone. In case this zone is crossed this week or later next week, the next resistance are near 17977 and 18125....
Nifty just 17370 below iam buying plan................................
After consolidating for about 2 weeks Nifty Finally had a shackle breaking close to the week and month in the last couple of days where momentum totally changed and both FIIs and DIIs turned buyers simultaneously. While the closing of Nifty is good, a major resistance zone of 50 and 200 days EMA between 17478 and 17515 is there to be crossed. If this zone is...
Nifty is perfectly sandwiched between strong support and strong resistance but the bias which was negative for most of March is fading. It is a very very critical day tomorrow. Nifty has already closed on Wednesday above a critical resistance of 17060 giving it a positive bias. Now the most critical resistances that remain to be conquered are 17137 and 17261....