Nifty Daily Chart with Fib Retracement my view is Bullish because of Retracement might be will go 20870 point one it will bullish again so buy on dip only stocks for swing not nifty or banknifty..
NIFTY gives breakout on weekly time frame, it's shows bullish momentum on bigger time frame. nifty is buy on dip till its above the 10 week moving average.
Nifty today probably opening arround 17900. As per my analysis NIFTY bullish till 18000 levels no proper supply level is there at least for short term. Daily creating Gaps. When reaches at 18000 then will see the price action which nifty makes and then decide future course of action.
NIFTY gave a strong closing on Friday as it ended above a long term support of 15917 and 16030. Yet the Important hurdle of 50 days EMA is still ahead of it which is at 16132. Crossing and closing above 16132 will be important for Nifty to go towards 16277. above 16277 levels Nifty in a short to medium term can go towards 16525 which is it’s 200 days EMA and a...
Strong resistance will be broken within this week and there is a huge gap of 230 points BUY ABOVE 16000
TECHNICAL ANALYSIS FOR EDUCATIONAL PURPOSE ONLY. A positive move is expected in nifty in the coming days. The above analysis is done using:- - Fibonacci Retracement - RSI - MACD
As long as nifty is holding 10140 -10120 levels , the probability of its moving towards 10450-10550 is still on the cards hence its buy on dips as long as its holding 10120 on intraday basis and 9940 on weekly basis.
The previous high nifty made was @ 10137 on 2nd August 2017. Now it is about to test the same high again. There will be strong resistance between 10137 to 10150 (being round number). If it closes above 10137 - 10150 on daily chart it should be a buy with stop-loss at 10128 (...giving cushion to avoid whipsaws). If it tests 10137 it may retrace to support @...
Nifty Harmonic Pattern Analysis
Continuing with the previous ideas, Nifty seems to have started it's final move till 8770 before a higher degree correction till around 8350 (exactly level can be obtained once this rise is over).