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...
We can expect BOOM BOOM BOOM tomorrow or in the coming week. It is a clean Breakout for NIFTY50. Support Levels are at 17779, 17687 and mega support of 17541 to 17584 zone. On the upper side the resistance are near 17986, 18042, 18272 and 18466. Let us see how far the Fizz can take us tomorrow. More importantly can the Fizz last over the next week too?
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.
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...
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 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....
A Cup and Handle kind of structure is forming on the hourly chart of Nifty. For the structure to complete Nifty has to close above 17429. In that case the next resistances for Nifty will be at 17472, 17528 (Strong Resistance) Closing above 17528 can potentially take Nifty to 17647 and 17803. Supports for Nifty remain at the levels of 17310, 17212 and 17171. The...
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....
Certainly the global headwinds in banking and inflation are rocking the markets all over the world. India with strong economic momentum is a bright spot in global economy but it is still feeling the effect and can continue to feel so in the short to medium term context. In the long run Indian story certainly looks at good valuation. As soon as US Fed signals for a...
Very Important week for Nifty and other global indices as Us Federal Reserve meets tomorrow. Global Market are looking for some respite, pause in rate hike or loosing of the hawkish stance and Global Baking systems are feeling the heat of unprecedented 500bps hike by US Fed in las one year. Positive news on this aspect will be greeted by global markets and we...
Last 2 hours today saw Nifty forming a bottom near 16828 that was the low of the day and making a pretty solid comeback. The momentum can lead us to open in positive and as US and other Global markets are supporting possibly Gap up opening tomorrow. If Nifty can sustain above 17061 tomorrow and move above 17142 tomorrow or later in the week. We can see a relief...
After Silicon Valley Bank and Credit Suisse events that have shaken up both US and EU banking systems, global indices are experiencing some extreme volatility and negative sentiment. This combined with Hawkish stance of Central banks have sent investors in the panic mode. Though our banking systems look pretty solid and the global events have less significance on...
Good solid support taken by Nifty today near 16850. Closing was well above the level and Nifty closed at 16985. This indicates we can see some nice short covering tomorrow. There can be some selling pressure later in the day. To continue the momentum into the next week Nifty has to close the day above 17062.5 that was the high of today. 17211 and 17411 will be the...