The market today gave a positive closing above 50 days EMA which was at 19285 which was a good sign but the candle that we saw today was a DOJI candle or a Perfect DOJI candle. This means that the market is indecisive. Only if the support at 19285 is held tomorrow or for the reminder of the week, Nifty can think of a recovery. Supports on the lower side for Market...
Market Outlook: Nifty is delicately placed at a major support level which was this week’s low. If this week low is broken next week and we get a weekly closing below the same, we can see further weakness creeping into Nifty. Weekly closing of Nifty was not good and the closing was just below 50 Weeks EMA which is always a negative sign. The resistance for Nifty...
19367 level is good support and Nifty may aim to go higher from here. Just below 19367 is 50 days EMA at 19281. Finding a support above 50 days EMA is a good sign and Nifty can aim for next resistance level of 19514 or even 19631 from here. Closing above 19631 will give a boost to Nifty for the targets of 19786 and finally it can again take an aim at allusive...
Nifty is taking support at the 50 days EMA and trying to stage recovery from there but 19440 to 19520 is a resistance zone which it is finding difficult to clear. If and when that resistance zone is cleared the next resistance zone is near 19631 and 19786. In case the Nifty breaks 50 EMA and parallel channel bottom support the bears will feel empowered and they...
Nifty is just above a major support zone if this support which is a very strong one is broken then we can see further weakness in Nifty. This week is crucial for Nifty. The supports for Nifty are near 19264 (Major Support). 19000, 18900 and Finally the zone between 18400 to 18372 (which seems to be a worst case scenario but is only if 19264 and 19000 are broken....
50 days EMA gave proper support to Nifty supporting our MFSC Theory (Mother, Father Small Child Theory). Till Nifty remains above 50 days EMA all is good. Once / If the support is broken there can be panic and DII who are in the buying mode and supporting the index in every fall also might turn into sellers. That is not the case for now and 19299 and 19250 remain...
Critical Support Zone For Nifty has arrived. This support zone is between the low of today that is 19412 and 19299.This zone has potential to support Nifty and empower it to cross 200 and 50 hours EMA which are at 19470 and 19538 respectively. Bullish sentiment can return only after closing above 19538. Crossing 19538 the next resistance for Nifty can be near...
50 EMA (Mumma Support again pulls back the child like a magnet.) Nifty which tried to break the shackles of 50 EMA is again under the same and now the full zone between 19566 to 19684 is full of resistances. Nifty will be bullish only after it closes above 19684. Till then there will be stock specific action based on results. Supports on the lower side are at...
Nifty on a third attempt today broke the Parallel chanel top and closed comfortably above 50 hours EMA (19568)(Mamma Line). If Nifty sustains above 19568 tomorrow it will turn positive again. In such a scenario the next resistances will be at 19645 and 19684. Crossing and closing above 19684 will open the possibility of Nifty 19798 and 19850+. Supports for Nifty...
Nifty on hourly chart has closed near very critical and strong resistance zone formed due to a parallel chanell in which it is falling since it made a new high of 19991.85. The resistance zone starts from today's high of 19620 and ends at 19685. Closing above 19685 is imperative for Nifty to go towards 19798, 19871 and finally then it can aim for the target of...
Nifty Seems to be defying gravity and seems determined to create yet another high given it is able to clear the resistances ahead. The resistances being 19767, 19837, 19912 and 19991. If these levels are crossed the New Nifty high can be near 20100 or 20242. Supports that Nifty has as of now are 19701, 19577 and 19411. Below 19411 the only major support now...
20K can be breached if 2 more resistances zones can be taken down. Resistance zone 1: Today's peak of 19851 and 19871. Resistance Zone 2: 19925 to 19950. Supports on the lower side remain at 19724, 19525 and finally 19321. Trend becomes totally negative below: 18887 closing.
Nifty has yet again reached the region from where channel top is near by. Channel top resistance can be in the range of today's peak that is 19595 to somewhere in the range of 19661. Supports for Nifty in case of fall will remain near 19464, 19422 (50 Hours EMA), 19360 (Mid-channel support), 19233 and final major support is near 19133. Closing below 19037 and...
Nifty has plunged as expected but during the last hour of the day took fantastic support at 50 Hours EMA. This support will again help Nifty to have another go at the resistance range of 19450 to 19525 zone. Before reaching this zone Nifty has to cross important resistance of 19419. Supports at 19359 and 19296 are strong ones.
There are three major supports for Nifty on hourly channel near the current level. The supports being at 19354, 19295 and 19232. Falling below 19232 will take spot Nifty to the levels of 19065 or 18894. Below 18894 Nifty becomes very week and final major support for Bulls will be at 18651. Resistance for Nifty will be near the levels of 19437 and 19523. Crossing...
Very Important Fibonacci resistance level 19448 approaching in Nifty. If Nifty can sustain above it above 19450 the doors will open for next Fibonacci level of 20162. I dare say Nifty needs some consolidation and RSI needs some cooling down before the next big leap. RSI is right now 74.85 and as soon as it touches 80, Nifty will enter Overbought zone if already it...
The hourly channel that we were following since last 2 months or more has been broken on the upper side due to the ongoing mad bull run. The question that comes to various minds is what next for Nifty or where next for Nifty. To answer that we go back to the daily chart and apply simple fibonacci levels. Fibonacci levels on daily charts suggest the following...
Momentum is with Nifty, but it has reached or will soon reach the Zone which might be very close to the overbought zone. Relative Strength Index cooldown / consolidation might also be required for Nifty to scale further highs. If not tomorrow then later next week. RSI will do some catching up and Profit booking at higher levels like we saw towards the end of...