FII, DII and Retail investors are all awaiting Exit Polls and Actual results of election to follow thereafter. We have already discussed the best and the worst case scenarios. The candle formed today is Doji exhibiting indecisiveness. The support at which Nifty is standing is Mid channel. The other support which has been taken is 50 days EMA. Right now everything...
Nifty has entered Important support zone. This zone extends from 22495 to 22386. Today's low of 22417 is also a very important level below which we will have only the support level of 22386 which is the 50 days EMA. Below 22386 bears will try their best to drag the Index to the levels of 21712 or even 21208. (This looks improbable as of now but you never know)....
After making a new high there has been relentless bout of Profit booking seen in Nifty. Volatility index probably peaked at 26.145 on Monday. It has come down a bit today to 24.175 but still it is in not relenting. Many stocks and indices seem to be hitting the oversold zone but still there might be little more pain in store for the investors this week. Probable...
Nifty is seeing a consolidation and Profit booking phase after making a new All Time high. There was a massive pressure seen across indices. This phase and volatility which we have seen off late can continue for a while till election results are declared and a little bit post results too. FMCG and Pharma were the only 2 indices which withstood the selling pressure...
Nifty hit the channel top today and immediately receded as there is not much space left of it to grow. Either it has to break the parallel channel and go above it or it has to fall to cool down the RSI and then come and fight to make a new high. It is obvious that as we hit levels above 23K there will be bout or bouts of profit booking too. With election results...
Major ATH All Time high Breakout for Nifty today however Nifty could not cross the much coveted level of 23K. Can Nifty do to it tomorrow? has it got the steam? RSI is high indicating that Nifty is getting overbought and valuations of a lot of stocks are very pricey. However there might still be opportunity left in a few Large cap stock specially IT, Banking and...
It looks like Nifty can create a U formation if the resistances at 22632 is cleared and we get a proper closing above it. However for perfect U-formation the Nifty will have to cross other resistances at 22693, 22734, 22768 and finally 22794. In case we do not get a closing above 22632 and Nifty returns the supports for Nifty will be at 22536, 22484 and 22445....
Nifty returning from high of 22591 has given indication of strong resistance zone ahead. Also closing above Mid-Channel resistance was a good move but still it is not a convincing upward gallop with market breadth remaining negative and FII still selling relentlessly. Some decent mid and large cap stocks are not moving despite good results and some average stocks...
Good move ahead for Nifty can hold the levels of 22470 and give a closing above 22522. Incase we get a closing above 22522 the resistances ahead will be 22587, 22658, 22730 and 22800+. In case Nifty gives a closing below 22470 the supports will be at 22345, 22246 and 22055. 22522 is however a strong trendline resistance and gap up opening and holding above it is...
Nifty saw a good closing today above mid channel resistance but could not hold on to higher levels as it found the resistance at 22502 to hot to cross. 22502 was today's high and might act as a resistance again tomorrow. If this level is crossed and we get a closing above it the next resistance levels will be at 22587 and 22658. Above 22658 bull have potential to...
Nifty recovered handsomely 349.85 points from the low of the day in the last hour against all frantic FII selling. This shows the power of DII and retail investors. Now Nifty faces a tough mid channel resistance 22438 which will take some doing to cross it. If Nifty manages to cross 22438 the next resistances will be at 22496, 22587, 22658, 22730 and 22801. If...
Nifty is squeezing in a tight space squeezing between major supports and resistances. A major move on either side can not be negated. With US inflation, Lok Sabha election phases, Announcements by FM about course correction discussion with SEBI on how F&O will operate in future, and other important data awaited, mixed bag results. Today 200 Hours EMA acted as a...
Nifty closed very well above 50 hours EMA (Mother Line) but is facing a formidable resistance of 22273 and 22309. The best thing to happen can be if Nifty opens gap up above this resistance and sustains the level. In such a scenario the next resistance it will face will be at 22374. Crossing and closing above 22374 will bring back bulls firmly in the business and...
Nifty today received some support from the bottom and some support from the interview of home Minister where he was seen very confident about forming a stable government as well as talking about investments in the share markets and how things will be in case they win (Which he was confident about. Nifty took support near 21821 and broke a negative trend line and...
Nifty is trying to bounce after bottom formation. The bull rally can commence and the bounce can sustain only if the level of 21938 is held and we get a closing above 22070. In the case of up move after 22070 is crossed and held the resistances for future will be 22129 and 22188. Post closing above 22188 50 and 200 Hours EMA (Mother and Father line) 22236 and...
A Dangerous Head & Shoulders Pattern is forming on Nifty charts.(Pending confirmation) If we get a confirmation candle tomorrow or if the support zones of 22240 to 22186 are broken and if we get a closing below 22186 there will be confirmation for the same. If we get a confirmation of Head and shoulders pattern bears will have potential to drag Nifty further down...
Even after the fall due to Profit booking and fear in investors due to Fed rate pause Nifty is not looking weak. Seemingly it has taken 200 Hours EMA support in late trading hours of Friday at 22388 after falling below it just for a while. If 22388 is not broken in the coming week the targets/resistances on the upper side will be at 22535 (Major resistance) (best...
Nifty is making a higher high, higher low, pattern on Nifty. Which looks very promising and positive. For going further and higher and into unchartered territory Nifty needs to hold 22625 or at least 22547. These two points will work as great supports too. Below 22547 the next supports will be near 22483 and 22379. On the upper side the resistance levels seem to...