NIFTY 50 is currently trading around 18727 and has reached at major Daily and Weekly resistance area and current price action doesn't show any signs that it break break the resistance so my idea is it will be bearish during this week. Below is the possible sell opportunity Sell around 18727 STOP LOSS: 18803 TAKE PROFIT 1: 18559 TAKE PROFIT 2: ...
The Ten point range between 18768 to 18778 proving to be resistance once again. Nifty however closed above the strong support of 18728. Other supports for Nifty are 18656 to 18639 zone (Strong Support). Below this area Nifty has support only near 18555, 18465 and 18417. Resistances for Nifty on the upper side if it crosses the zone of 18768 to 18778 are near 18831...
This is not a prediction! And never believe in any prediction either! Just My-Lines to watch if it's respected and PA have an edge will buy or Short. Trade your system, trade what you see!
Last 3 weeks or so we saw the Importance of mid channel line in parallel channel tool. Thrice Mid channel line supported the Nifty and Nifty bounced from there. When a support is taken multiple times mostly it becomes weak. This led to fall of Nifty below Mid channel line. Once the price is below the line which was a support. The line becomes a resistance. Mid...
This is not a prediction! And never believe in any prediction either! Just My-Lines to watch if it's respected and PA have an edge will buy or Short. Trade your system, trade what you see!
It might be a gap up/down morning tomorrow, but all we traders need to think is should we ignore the reversal pattern that erases bearish momentum at each interval since past 3 months, yeah because this will be the choice in front of you to decide whether we support the narrow lane of downside or enjoy the swift train which has stations above 19000 levels.
🔍 Analysis on Nifty for the Upcoming Week 🔮 Jun 12 - 16 The Nifty index seems to exhibit a bullish trend in both long-term & short-term as well, according to the market structure. 📈 Key Levels to Monitor: In the upcoming week, it's important to monitor key levels 18250, 18530, 18535, 18660, 18775, & 18885. 🔎My outlook: The outlook for the upcoming week’s...
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...
If market opens above 18700 and then give breakout after consolidation, we can buy. Nifty is not good zone for sellling. We can enter banknifty for selling if market opens with big gapdown.
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...
If nifty breaks upper level of 18640 then we can buy in full quantity if nifty breaks lower level of 18580 then we can sell in small quantity for a target of 30-40 points. Big selling pressure will come only below 18500/18480 level. so between 18640-18500 trade in small quantity
Asian paint has given pattern on daily chart. We can expect a big moves in Asian paint. One should hold Asian paint for a short term.
Observations:: Price is exactly closed near the Previous Strong Resistance, If this acts as support will observe bullishness towards 18600,18700 levels. If price breaks 18700 levels, it may touch ATH as well...will see this later, it will touch or not. Until Keep watch these levels. We have a demand zone @18200,which is a strong demand may acts as support again.
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...
Observations:: ---->> Price is trading in range after opening gap up. consolidation + Bullish = Sell @ Resistance.(18700 Resistance) Consolidation + Bearish = Buy @ Support (Gap may acts as Support.) If price showing bullish pressure towards 18700, wait here for reversal may happens, previous strong fall area. if price comes back to 18450-18500 levels, look for...
Ascending broadening wedge, Bearish reversal pattern accompanied in Regression Channel. It is visible in the shorter time frame whereas In a daytime frame, it looks bullish. The pattern will be confirmed if nifty goes below the support line.
Observations:: NSE:NIFTY ----->> if we see monthly candle it is a strong bearish candle, ------>> If we see weekly analysis , price enters into a zone where previous strong rejection area. we are still in that area , High of that area is 18700.so we will buy up to 18700 area. ------>> If we go for daily analysis , price enters in that area and showing...
Price is exactly closed in the strong Demand zone, which is previous supply zone. if this zone acts as support, price will go up, up to the next resistance @ 18438-18458 range. Résistance + supply zone. = Strong push to downwards may observe. Today's fall is due to previous supply zone @18400 levels, We are left with one supply that is not tested @ 18438-18458...