Strong Resistance zone of 21607 to 21857 sends Nifty in a downward spiral and makes it topple towards 50 days EMA(Mother Line). This has lead to frantic fall in RSI of Nifty. On 15th January the Rsi of Nifty was 73.88 today it is 44.88. Still little bit of cool down in RSI can not be ruled out. The immediate support for Nifty is near 21218. This is a weak support...
Nifty broken the major trendline In the previous sessions price is retested the same trendline and showing Bearishness from the supply zone.On bottom side strong demand zones lies at 20800 levels. If this trendline acts as resistance we will observe a continuous Bearishness in nifty upto 20800 levels. If we observe consolidation between 21700-21300, will expect a...
50 hours EMA (Mother line)(Those who know my Mother/Father/Small Child story can understand it very well) was a very important resistance to be crossed and held today but Nifty could not hold on to it after crossing it once. In addition to the 50 EMA there was also Mid-Channel resistance. which could not be crossed. Additionally there is a trend line resistnace,...
After a strong fall, expecting some retracement in nifty. on topside supply zone is identified at 21650-21700 levels. so liquidity is lies above and below this levels, after testing these levels again have a chance of fallback to test the demand zones at 21300 levels and at 20800 levels. If 21300 level fails to push it upside, quick drop and rise will see in...
Right now Nifty seems to be trapped between strong support and strong resistance. The support zone is 21415 to 21581. Resistance zone is 21670 to 21847. Nifty needs little bit of consolidation in the range. Results from various companies will drive the nifty forward in either direction. The interim budget is also around the corner that can also be a guiding light...
Nifty trying to form a bottom after taking channel bottom support. Nity touched the bottom of our hourly channel and trying to consolidate in the zone. Major support for Nifty from here will be 21405 (200 Hours EMA) (Father Line) and Channel bottom 21285. If 21285 is broken Nifty may fall further till 21089 or even 20967. On the way up major resistances that Nifty...
Nifty is trending higher and higher... Closing is given above the ATH again, If this is a breakout, in the next session it will continue its momentum higher again. If it is a fakeout,buyers trapped in today's bullish move. If a retest to the previous ATH Is given,and continues, go long, otherwise keep in short side, below the channel again.
Nifty 1hr chart nifty forming like Ascending Triangle Pattern nifty if will be go upside only one condition it have to break trendline firstly then it will be sustain on 21755 with good green candle..
Nifty closed strongly above 50 hours EMA after testing exactly the channel bottom drawn and shown by us from last few days more upside is possible but important resistances for Nifty to cross on the way up will be 21661, 21718 and 21768. closing above 21768 will open the doors for 22K+ again with resistances at 21830 and 21927. Supports for Nifty on the lower side...
As you can see in the chart Nifty started the day brilliantly jumped above 50 Hours EMA and was going up in a rapid pace wiping all the losses of yesterday till it hit the trend line resistance which was near 21725 and immediately fell relentlessly giving a big red candle for the day. Only saving grace was it ended in Green at the close of the day again finding...
Nifty was repelled from the resistance zone near 21768 and got thrashed throughout the day as RSI had to cool down. Further downside is possible if support zone of 21500 to 21425 is broken. In this case further down side upto 21389 or 21235 is possible. The worst case scenario as of now looks near 21143. In case 21143 is broken Bears can strengthen their grip and...
Nifty also form hh and hl first resistance 21755 & second resistance 21834. It's very important nifty will be sustain on 21755 1hr chart or gap up on 21755 with strong candle then breakout it's will be make new high again..
1. Change in the regression trend at day timeframe, 1st Dec 23 It occurred with Gap formation, which will act as good support 2. Another Regression channel can be observed at 1hr time frame 3. Spinning Top Formation at the weekly timeframe, implicates bearish sentiment in the last week's price movement Another "change in the trend" is expected
Nifty is still trading in a channel... wait until price breaks this channel for complete bearishness... as of now no sign of bearishness is observed in NIFTY... If price failed to move again from the channel bottom then will think of bearishness.
As we have discussed, Nifty has been moving upwards in the channel. Now, it has broken down to the lower channel, which shows a bearishness in the NIFTY behavior. There is a high probability that it will now continue in the lower channel as a bearish trend. OI data also confirms its bearish nature with PCR = 0.70. it will be bearish for now. Reasons: It has...
Two key levels for Nifty to hold on in this market weakness triggered by some global events and Profit booking are 21555 and 21450. Closing below 21450 can lead to further weakness and Nifty can fall to the levels of 21242, 20951 or even 20768. The worst case scenario visible as of now seems to be 20592. In case 20592 is breached Bears will start calling the shots...
Nifty will be gap up opening in today's session. After opening nifty sustain above 21460 level and then possible upside rally up to 21580 level in today's session. in case nifty trades below 21430 level then the downside target can go up to the 21310 level.
Nifty continues good show and ended the day above mid-channel resistance. Nifty right now looks pretty fairly placed to touch the previous high or end making a new high. Top of the currently looks near 21800. The resistances on the way towards top of the channel are at 21483, 21541 and 21592. Crossing and closing above 21592 will open the doors for 21800....