Since last three days Nifty has taken solid support at near 15800 levels. However the levels of 15900 has been proving to be a tough level to conquer. The downward channel started since April end on hourly chart will be broken if the Nifty is able to sustain above the levels of 15900+ and go towards 16K. Supports and resistances on the way are as under:
Nifty opened gap up today at 15977 just short of 16K. Went on to make a high of 16083 but could not sustain the levels amongst the selling pressure and ended negative at 15782. This indicates there is excessive fear in the market and selling pressure on every rise. The market mood index MMI measure of Excessive fear, fear, greed and excessive greed indicates that...
There is a Positive divergence on NIFTY hourly chart which can take NIFTY to close in green tomorrow if it is able to cross the important resistance of 16202.
Other support and resistances are:
Supports: 16161, 15994 and 15902 and 15820.
Resistances: 16202, 16216, 16279, 16320 and 16402.
Bitcoin trying to fightback but stiff resistance ahead 33031 which was a major support is not a major resistance.
Supports for Bitcoin: 29757, 28616, 26101. If 26101 broken next major support will be only at 19808. (reaching 19808 very likely in the medium term).
Resistances for Bitcoin: 33031, 34787, 37173 and major resistances will be 39303 and...
Motilal Oswal is looking strong in the falling market and can be a good investment in the long term considering the promoters themselves are trying to increase the stake. Motilal Oswal is a company with Zero Promoter pledge where MFs and FIIs are increasing the stake. Net profit of the company is also increasing. Fresh entry above 895 closing will be good for long...
PVR is a company where net cash flow is increasing after post Covid recovery. Mutual Funds and FIIs are increasing their stake in this company. Valuations of the company are high considering that the revenue of the company was negative. However if the stock maintains the level above 1770 then it can travel to the targets of 1851 and 2050. Keep a stop loss at...
Very week close for NIFTY this afternoon. Nifty was not able to sustain 16400 levels Nifty ended the day at 16249. Market is slowly going right into the hand of bears. Unless there is some very positive news it looks like market will stay range bound or negative. Unless it has formed a bottom which looks likely near 16100-16130 range.
Important Resistance levels...
It was a bad week for NIFTY all hopes of recovery vanished as NIFTY could not sustain above 200 EMA after failing to sustain above 50 days EMA last week. NIFTY is trapped in a downward parallel channel currently having broken even the mid channel support levels from where NIFTY can turn upwards now are at.
Important Support Levels for NIFTY will be: 16340, 16135...
As NIFTY could not sustain above 16863 (200EMA) and ended at 16682 .
We have witnessed clear signs of weakness in NIFTY .
The support levels are 16624, 16407, 16173. Below this, 15688, 15460 and 15301.
Resistances on the upper side are 16788 and 16949.
Nifty closed 151.75 above days low. although the day ended in negative as Nifty closed at 17069 but the fact that Nifty took support above 200 days EMA is heart warming for investors. Follow up candles and what happens in the coming days is important as US Fed meets later this week and there are important upcoming announcements for global Central banks later this...
As the NIFTY has closed just below 50 days EMA. Once the 50 days EMA is crossed. We can expect rally to continue. Ideal situation will be NIFTY opens gap up above the resistance.
Important resistance levels will be: 17254, 17423, 17666.
Important Support levels: 17074, 16960 and 16862.
Today Nifty had a solid closing where it rose 246.85 points and 1.46%. What lies ahead is an important resistance which can become an hindrance. That hindrance is 50 days EMA is at 17264. If that is able to cross this important resistance then further levels will be:
Resistance levels: 17384, 17607, 17858
If we are not able to cross 50 days EMA the support...
Nifty can bounce back and make new all time high around 19K either from bounce zone F or bounce G.
Support and Resistance levels for Nifty will be as under:
Support - 16853, 16425 and below it Nifty can go to Mid or low 15Ks.
Resistance - 17042, 17264, 17660 and 17921 for now.
The candle indicates weakness in NIFTY. NIFTY is searching for the support but even after a dip of 1.27% today it did not find one. More mayhem could be awaiting us next week if Nifty does not find the support soon. The points where NIFTY can find support next week are 17150, 17025, 16978 and 16852. Below 16852 there can be a long march towards lower 16Ks or even...
It was a great day for indices today as Nifty made a high of 17414 and ended the day at 17392 which is much about 50 day EMA which was at 17283 which will be a major support now.
Supports ahead are: 17283, 17028, 16849.
Resistances ahead are: 17414, 17562, 17669.
Nifty is Evenly poised. the levels on upper and lower side are :
Supports: 17062, 16933, 16759.
Resistances: 17149, 17191, 17283, 17354 (Major resistance). Above 17354 Nifty can have a good run upto 17594 or 17669.
Nifty found resistance at 50 days EMA which was at 17285 as it made a peak of 17275.65 and found support at 200 days EMA 16840 and Nifty formed todays low or todays bottom near 17824. Nifty ending above 200 days EMA was a good sign and we can see a good bounce back tomorrow by NIFTY. The resistances will be near 16958, 17032, 17285. IF 200 EMA is broken there will...