in coming days the result of indian stocks of second quarter is coming next weeks , now today market has felled hugely because of pressure of profit booking may IT and PHARMA sectors has given power to come up side to nifty , but the second waves of covid -19 doing panic to the existing level...do your on risk
Looks Bullish
All the key levels are mentioned in chart with Stop-loss and Targets
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
------------- WEEKLY ANALYSIS 05-APR------
The short term trend has rotated back to allign with the long term trend.
NIFTY: Key Long term levels are 14500-15100 range
Immediate suport areas are 14800-830F areas. Hold into that will look for a pullback play.
BANKNIFTY: Immediate support areas are 33900-34100 areas for pullback play.
Breakout play abv 34500F...
After the market was pushed into some directionless we witnessed a rather aggressive decline towards the end of expiry. Since the middle of the month the bearish forces took advantage of this opportunity. Since February the rebound from support levels re-ignited some hope. However, the sustained decline at higher levels kept nullifying these hopes leading to a...
Today's upmove looked largely on short covering and less of long build ups.
For the week we have bounced of the weekly trend decider around 14720-50 areas and have now that as a support.
Scenarios from Here on
1. Hold and get above 14890F for a match forward.
2. Fail to hold above 14830F and get below 14750F for a potential rotation downwards and break of weekly lows.
#Nifty has formed bullish reversal patter " Bullish piercing" on friday. But today is crucial day as we need confirmation for the same. #NIfty future has strong resistance in the range of 14800-14890 where all short term moving averages are hovering so unless we trade above the same today, we shouldnt initiate new longs.
Most probably nifty may reverse from here.
1- Anchored Vwap is supporting.
2- Nifty at bottom of the channel that is being respected from over a month.
3- This fall is not hugely supported by IndiaVix.
