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...
After making a new high of 22783 there was a bought of Profit booking seen in Nifty. Two important international events of US FED Interest decision and CPI Inflation data are awaited so traders may have thought of being cautious at this juncture. Further bullishness leading to 22800, 22887 and 23026 is also a possibility but for that overcoming this important...
If Nifty manages to close above 22650 it will successfully cross the double resistance of a trend line and mid channel resistance. The next targets for Nifty in this case will be 22707, 22775.(Major All time resistance.) If this is also crossed successfully we may see new all time highs of 22887 or 23026 and more. Supports for Nifty are at 22544, 22448 and finally...
Nifty is delicately placed above the 50 EMA and 200 EMA support zones (Mother and Father support) which are at 22404 and 22316 respectively. This zone can act as a buffer and should provide proper technical support to Nifty. In case 22316 is broken Nifty can further fall to the levels of 22201 or even 21972. Worst case scenario as of now looks like 21784. If...
Arrow in the chart of Nifty is pointing in the direction of which Nifty intends to go in the long term. There may be some slip-ups in the short run but in the long run Nifty will be seen travelling in the direction the arrow is pointing. Today Nifty returned from an important trendline resistance of 22625. crossing the same will be a little bit of a challenge....
Since yesterday 22447 to 22481 is again and again blocking the Nifty rally. Only after 22481 is crossed and held we will see the rally continue further. Further resistance will be near 22558, 22612, 22692 or even 22780+. In case the resistance proves strong enough the supports will be found at 22376, 22342 and 22290. If 22290 is broken then further supports will...
A strong resistance around 22447 blocked the bull rally of Nifty today. If this resistance is not crossed the Nifty will try to re-test the supports. There is a strong support in the range of 22279 and 22312 region which includes 50 EMA, 200 EMA (Mother Father lines) and a trend line support. If these supports are broken we can see weakness which can lead Nifty...
More up move is on card baring there is no further bad news related to Iran and Israel conflict and other news surrounding the Middle East and Levant nations. The closing above 50 and 200 EMA hourly indicates that there might be more bullishness in store for Nifty with resistances at 22430 and 22517. If these 2 levels are crossed easily then we may see 22692,...
Nifty fell like a hot knife going through butter slab reacting to Iran Israel news. There was some respite today as Nifty has takena support at 21777 and bounced back to close the week at 22147 staging a remarkable recovery. 21777 will remain a critical support to watch for reminder of the month. In case this support is not held further supports will be only...
After taking a drastic beating due to Israel and Iran conflict Nifty today has taken a support near Mother line (50 EMA). There is also a trend line support at the same place. If there is no bad news in next one or two days we might see a reversal in Nifty in favor of Bulls. In case there is some more bad news we may see bears tightening the grip over the market....
Market Outlook: The factors related to Israel and Iran Conflict will e the leading cause for market and moves rather than other local or Techincal factors for the next few days it seems. However the Support and Resistance levels seem to be as under. Nifty Resistance: In case there is some positive news of tension related to conflict decreasing will be at 22424,...
As depicted in the last message. Nifty was near a crucial resistance zone which is between 22770 and 22808. Nifty fell sharply from these levels triggred by possibility of a major 3rd World War like crisis due to Iran and Israel conflict. Now Nifty is below a major resistance that is 22567 and just above a major support level near 22511. Any further escalation in...
Closing above 22629 has ensured it is a cup and handle Break Out for Nifty. Now the only major hurdle remaining between another leg of bull run and consolidation is the resistance at 22701. Once 22701 is crossed next targets for Nifty will be 22803(Major Resistance), 22910, 23047 and 23220. If the breakout fails and Nifty is not able to cross 22701 swiftly the...
Nifty bounced back but pretty well after confirming a near term bottom around 21710. right now facing mid-channel resistance. Daily closing firmly above 50 days EMA is another positive sign. Right now Nifty will face or is facing mid channel resistance which is near Friday's high of 22180. Nifty next week crossing and closing above 22180 will ensure that Nifty has...
Last year after the Ukraine was there was such a panic in the market. People were selling their precious shares at whatever price they could not expecting an adverse event or a fall is an adverse event in itself. In stock market there will be ups and there will be downs...Become a long term investor in Equity. Even the chart today says JUST DO IT as Nifty touches...
Again Nifty is facing the same resistance as we have seen for the last 2 days as Nifty returned from the day's high of 22521. However the support came from the expected level mentioned yesterday i.e.22346. Most important turning point on either side can be US FED Chair Jerome H. Powell speech about Economic Outlook. (At the Stanford Business, Government, and...