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Niftyindia

After making a new high Nifty finds temporary bottom. There was an immense bout of profit booking specially in the mid and small cap stocks decimation happened in PSU stocks. Many of these stocks are near important support levels now. Many seem to have taken support today. Nifty itself took support today near 25376. Looks like this was a strong support below which is another important mother line support of 25322. To know more about Mother, Father and Small Child theory read my book available on Amazon in Kindle and paperback version. Below 25322 the important support levels will be 25278, 25134 and 25008. However as support of 25376 has been taken for now things look little rosy to start the day with resistance levels will be 25485, 25533, 25611 and channel top now is at 25712.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty getting trapped between two trend lines forming a pennant Nifty is getting trapped between Two trend lines and will look to consolidate further till the trend line is broken on either side. In addition to the trend lines, Nifty is also trapped between Mother and Father line of 50 and 200 Hours EMA. Very interestingly poised Nifty with negative shadow of the candle. Immediate resistances are near 24970, 25027, 25130 and 25192. Above 25192 Bulls can start to breathe easy. Supports for Nifty are at 24885 are 24821. 24821 is the most important support as it is just below the trend line and also 200 Hours EMA that is the Father line. If father line is broken Nifty can further fall to 24751 or even 24527.
NSE:NIFTY
by Happy_Candles_Investment
Strong comeback by Nifty indicating temporary bottom formation.Nifty today came back strongly after taking support from Father line of 200 EMA and trendline. The support of Father line will be confirmed if we get a positive and strong closing tomorrow. The supports as of now for Nifty remain at 24790 and 24753 (Today's low and trend line support). If by chance FED will not announce a big rate cut, Nifty may again go support searching. If 24753 is broken the next support will be only at channel bottom near 24527. Shadow of the candles as of now remains positive and resistances for the Nifty is in the zone between 25005 and 25033 (Mother line 50 Hour's EMA). If we get a closing above 25033 the next resistances for Nifty will be at 25192, 25273 and 25333. See how Father line support saved Nifty today. To know about Father, Mother and the small child theory you can read my book The Happy Candles Way to wealth creation. The book is available on Amazon in paperback and Kindle version.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty delicately placed near Mother line & important trendline.Nifty which closed at 25145 is delicately placed just above mother line 50 EMA and an important trend line near 25143. Another important support will be today's low that is 25127. Below this level there can be further weakness which can take Nifty to 25083, 25005 and 24875. If major support of 24875 is broken the final support will be near 24776. If 24776 is broken Bears can take over the market. Resistances on the upper side are at 25173, 25208, 25234, 25269. Above 25269 Bulls can take control of the market at take the market to 25304 or even 25337. Right now shadow of the candle is still little negative.
NSE:NIFTY
by Happy_Candles_Investment
Closing below trendline today shows some weakness in the rallyAlthough the closing on Nifty today was flat, as you can see from the chart closing was below a trendline which shows weakness. This weakness can lead to little more consolidation or can send Nifty searching for a substantial support. Resistance on the upper side seem to be at 25304 and 25337. Supports for Nifty are at 25241, 25197 below this level the major support for Nifty will be 25122 (Major support, Mother line, 50 EMA). If by chance 25122 is broken only 2 major supports will be at 25081 and 25005. Shadow of the candle as of now looks negative as of now.
NSE:NIFTY
by Happy_Candles_Investment
Study of Nifty since it's inception for long term view/Outlook. Nifty has closed at highest monthly closing. It is almost at all time high. Now what the future holds for investors? It is the right time to look at All Time Chart of Nifty. This will help us in taking a long term view of Nifty we decided to look at the all time channel of the same since it's inception in 1991. This research has given three indications. The long term channel is the best way to get predict the Nifty as it filters out all noise. The cut off date we have indicated is January 2028. This study and analysis has shown an interesting result which indicates that the best case scenario for Nifty by 2028 can be 49K+ levels. (If we continue to grow at the same rate along with the same trendline). In case of stutter the moderate case scenario seems to be that we can reach 30K+ levels. The worst case scenario as of now seems to be that we remain at similar levels of 23K+. This can happen in case of a major global catastrophe or some internal disruption in India. (Both are worst case scenarios). The reason we might not fall below these levels is that we have a strong rule of law, India as of now is not aligned to any global power and has become leader of the Global south so in case of conflict we might not grow but we by all means will not fall below a certain level. Since 2005 Nifty has gone below Mid channel support only on two occasions once in sub prime crisis in 2008 and once during Covid 19 outbreak. Even if we fall below Mid channel support we mostly will bounce back very strongly. Thus the indications of all time chart of Nifty seem that India will remains a bull run for a long long time to come. If we believe the current trend within this decade that is before 2030 Nifty touching or crossing 50K also remains a fair possibility. So invest in equity, Educate yourself, learn Techno-funda analysis. Reading The Happy Candles Way To Wealth creation my book which is available on Amazon in Paperback and Kindle version can be a good beginning for you. All the best! Happy Investing.
NSE:NIFTYLong
by Happy_Candles_Investment
Solid closing above important Fibonacci level of ATH. Nifty has given a solid closing above previous ATH and important Fibonacci level showing growing momentum. A new All Time High was made today at 25192.90 for Nifty which closed strongly at 25151.95. Now there is a strong support zone for Nifty between 24998 and 24933. 24933 happens to be 50 EMA (Mother's line) as well as mid channel support. This resistance will be tough to conquer for Bears. In case there is closing in an unlikely event below 24933 the next support will be at 24716. On the upper side the next resistances will be near 24193 (weak resistance of ATH). 25294 and finally 25411. 25411 is an important Fibonacci resistance which will be tough to conquer. In case we get a closing above 25411 next month or so the doors for 25840 in the medium to long run will open. words of Wisdom: All The boats go up in a tide so go for fundamentally strong stock which have good thematic future rather than momentum traps. Pick Fundamentally strong stocks which are giving a technical breakout. To know more about stock selection read my book The Happy Candles Way to wealth creation available on Amazon.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty not closing above 25078 is not a good sign.Nifty not able to close above 25078 after making a high of 25129 is not a good sign. It showed a kind of weakness in the rally which can send Nifty downwards searching for the support. Supports for Nifty currently are near 24960 and 24857. Resistances on the upper side are now between the zone of 25078 and 25129. Once we get a closing above 25129 the door going towards 25276 or even 25411 can open. Right now the shadow of the candle is looking slightly red in colour that is negative.
NSE:NIFTY
by Happy_Candles_Investment
Nifty at mid channel support trying to cool down RSI. Nifty is currently resting on the mid channel support and is trying to cool down overheated RSI. This consolidation is necessary before it can march further. Earlier in the day RSI had reached over heated zone of 75+. Currently the RSI has cooled down to 67.89. Further consolidation will be good for the market before it's next leap towards 25K+ again. The new channel top seems to be near 25.41K. In the medium to long run the Nifty has potential to reach anywhere between 25.8K to 26.32K within this year or within this financial year. Supports for Nifty currently are near: 24738, 24652, 24601 and 24409. 23893 will be a critical support closing below which the Nifty rally can turn bearish. Resistances For Nifty on the upper side are at: 24869, 24949, 25078 and finally Channel top resistance near 25411. Closing above 25411 will open our gates for new target which can be anywhere between 25.8K to 26.32K.
NSE:NIFTY
by Happy_Candles_Investment
BATAINDIA swing long idea The fundamentals and market share of the company are good. Recently NSE:BATAINDIA has been mentioned in various newsletters and news channels, which indicates possibly a big player is going to have a block sell soon. After the recent rally and follow-up retracements, if the share does not fall below 1416 - With sustained volumes and RSI values. We can go long on BATA for a minimum 20% upside. If levels of 1384 break, one can directly buy At the Money PUT for BATAINDIA and have at least a 10% upside there. *Educational view*
NSE:BATAINDIALong
by LokeshSurana
Gap generated on 5th August Finally Filled today. Gap generated due to gap down opening of 5th August is finally filled today. It is not necessary that all gaps either on the way up or on the way down are filled every time. As there are different type of gaps and different timings of gaps / intervals etc there are many factors which create loop holes in the gap theory. We will discuss that some other time. Gap Theory is a subject in itself. The supports for Nifty now are at 24517, 24324 and finally 24088. Resistances for Nifty in the short to medium term are at 24736, 24857, 24950 and 25080.
NSE:NIFTYLong
by Happy_Candles_Investment
Mother line yet again supports and zone 24340 to 24382 resists.Mother line yet again comes to rescue of Nifty after the zone between 24340 and 24382 stops the growth of Nifty yet again. Once this zone is crossed only then Bulls can breath easily. Trend line resistance has also come into effect with absolutely no room for Nifty to go. So there should be a breakout in Nifty in either direction tomorrow. Shadows of the candles are green and positive due to the mother line support at 23983. So hopefully the breakout should be on the positive side. Resistance levels 24340, 24382, 24584 and 24714. The supports on the lower side are 24075, 23983 and 23673.
NSE:NIFTYLong
by Happy_Candles_Investment
Good bounce back by Nifty after Mother Line confirms support. Good bounce back by Nifty after Mother Line confirms support. But we are still not out of the woods as there is a resistance zone near high of the today that is 24337 and 24382. (This is the resistance created by the gap down opening on 5th August. The starting and ending point of Such massive gaps always acts as a resistance zone while going up. The best way to cross this resistance will be a gap up opening. 24483 is another point which was the starting of this gap which will also act as a resistance on the way up. Once that is crossed we can look forward to reaching the next resistance levels of 24584 and 24714. Supports on the lower side for Nifty are at 24183, 24075 and 23978 (Mother Line 50 day's EMA). Below this level only two supports remaining will be 23912 and 23673. We can again be in this unlikely zone as of now only if there is some major bad news overnight otherwise shadow of the candles is looking positive. The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Mother Line comes to rescue for the Nifty today but can it hold?Mother Line or the 50 days EMA comes to rescue for the Nifty today but can it hold? It looks little difficult due to the global Bear onslaught. In such situations we know from the Father, Mother and the small Child story that mostly Father line of 200 days EMA can provide proper support. However before we reach there and not necessarily we reach there as there are some important supports for Nifty. The other supports for Nifty from where it can potentially make a turnaround seem to be at: 23963 (Mother Line provides support again / Support confirmation), 23673 is the mid channel support, 22788 to 22641 is also a good support zone. Below 22641 we have Father line support at 22242. Final support for Nifty is 21879. Resistances on the upper side are now at 24214, 24342 and 24714. Shadow of the candles are still dark red. To know more about the father, mother and small child story read my book The Happy Candles Way to wealth creation available on Amazon in Paperback and E-book version. The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty again tried to conquer 25K but unsuccessful Nifty again today tried to conquer 25K but fell short and reversed from 24971. Twice unable to conquer 25K has formed a temporary Double top type structure indicating weakness not massive but just a little bit. Weakness can creep in if the 24833 and 24773 are broken. Resistances on the upper side remain at 24887, 24957, 24999 and 25037. If 24773 is broken Nifty becomes meaker and then the supports remain at 24676 (Mother Line or 50 EMA Support). 24599 will be the mid channel support. Below 24599 the major supports will be at 24496, 24375 and 24234 (200 EMA support or Father line support.) Below 24234 Bears will totally try to dominate the proceeding.
NSE:NIFTY
by Happy_Candles_Investment
50 Hours EMA (Mother line) and Trend line resistance in playAs discussed in yesterday's video Mother line at 50 hours EMA and Trend line resistance stopping the march of Nifty again. Nifty again nose dived today to confirm support which it found at 25307. After finding the support Nifty recovered again today smartly to close at 24413. Mother line at 24481 and trend line resistance in the range of 24500/24525 range again acted and forced nifty downwards. These resistances are not easy to cross as described yesterday. (To know more about Mother, Father and the small child story (Represented by 50 EMA, 200 EMA and Candle sticks respectively. You need to read my book The Happy Candles Way to Wealth Creation. Available on Amazon and trending at number 18 in hot new release category. (Business Economics and Strategy). The supports for Nifty are now at 24307, 24274 and 24074(Major support Father line 200 Hours EMA) and yesterday's low. Resistances for Nifty remain at 24482, the range between 24500 and 24525. Closing above 24525 will open the doors for 24584 and 24686.
NSE:NIFTY
by Happy_Candles_Investment
Market tried to recover after forming a temporary bottom 24362.Market tried to stage a recovery after forming a temporary bottom near at 24362 to close at 24509. The recovery was good 147 points from lows of the day but ended just below 50 hours EMA Mother line which is at 24527. Closing above 24527 can help further recovery. Supports for the Nifty remain at 24465 and 24362. If 24362 is broken the only substantial support will be 24140 and Father line (200 hours EMA at 24021). Resistances on the upper side are 24527 (high and mighty Mother line of 50 Hours EMA also a trend line resistance) followed by 24587, 24660 and 24734. 24854 is the final number to conquer before we can reach 25K. To know more about Mother and Father line resistance/support and other aspects of investing please buy and read The Happy Candles Way to wealth creation. (Book Available on Amazon). With First budget of NDA 3.0 tomorrow there are chances of volatility as market expectations are high and there is also a fear of additional STT. There is also lingering action pending on F&O trades about which both finance ministry and RBI are apprehensive. It will be interesting to see what action is taken on this front. Additionally sectors like FMCG, Health care, Energy, Railway, Fertilizers, Pharma, Speciality Chemicals, Metal and IT also have lot of expectations from the budget. Policy around EVs can also help or disharten Auto sectors. Infra, Defense and Reality space will also be looking at the budget with beating heart. This is seen as make or break budget in many ways for the market with impeding correction looming large. Overall market is expectant with possibilities of lot of sectoral trends emerging from the upcoming budget tomorrow. The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty closed just below 50 hours EMA.Nifty has closed 1 point below the 50 Hour EMA at 24530. (Mother line) - to know about the Mother, Father and Small Child story read The Happy Candles Way to Wealth creation available on Amazon. Supports for Nifty now remain at 24509, 24359, 24211 and 23985. (23985 is a very important 200 hours EMA support). Resistances for Nifty will be at 24351 (50 hours EMA), 24599 and channel top resistance near 24854. Hourly RSI has cooled down from 70 which was on 18th July to 42.5. RSI support is at 38.07 and 22 levels these are the two levels after reaching which there can be a chance of a bounce back. As of now shadow of the candle is weak red.
NSE:NIFTY
by Happy_Candles_Investment
Today's high 24661 a strong resistance point to watch out for. Today's high 24661 a strong resistance point to watch out for. If Nity is not above to close above this level then we can see the fizz of the current rally going out and Nifty can go searching for supports in the short term. If we get a closing above 24661 the top of the trend seems to be near 24726 for now. Supports for Nifty seem to be near 24593, 24526, 24476 and the zone between 24443 (50 Hours EMA) and 24404. Below 24404 closing the bears will get some breathing space and can pull nifty further down.
NSE:NIFTY
by Happy_Candles_Investment
Nifty returned from an important trend line resistnace today. Nifty touched and returned from an important trend line resistance today at 24635. During the course of day another point at This will be an important hurdle to cross before we reach another hurdle which 24615 also proved to be a resistance. If these two resistances are crossed next resistance will be at 24692. Supports for Nifty are at 24526 and 24476. the zone between 24404 and 24383 forms an important band of support for Nifty as of now.
NSE:NIFTY
by Happy_Candles_Investment
Market makes a new high and closes near the same.Driven by unexpectedly positive results by TCS, most IT companies jumped in a positive rage and took the index into further unchartered territory making a high or 24592 and closing at 24502. The trend suggest that the peak can be near 24769 if the resistances of 24592 and 24662 are crossed. The supports for Spot Nifty remain at 24490, 24437, 24317 major support 50 Hours EMA (Mother line) and finally 24206. If the support of 24206 is broken there is a very high probability of bears draggin Nifty down to 200 Hours EMA (Father Line) at 23776 with various stops in between. Outlook is still neutral to positive but investors should stay nimble and keep stop losses in place.
NSE:NIFTY
by Happy_Candles_Investment
Good Support taken by Nifty today but trendline resistance loomsNifty today took a support at 24141 and market a recovery where it closed at 24324. If Nifty is able to close or hold above 24353 there can be recovery which can lead to Nifty going as high as 24403 or 24461. If and when we get a closing above 24461 we can think of crossing 24500 and hitting a high of 24520 for now. If the resistance of 24353 is not corseed and we do not get a closing above it Nifty can again go fetching a support. The support for Nifty are at 24286, 24243 (50 hours EMA)(Strong Support), 24141 and 24054. Below 24054 Bears can stake a claim and pull the Nifty further down.
NSE:NIFTY
by Happy_Candles_Investment
Nifty in a parallel channel is nearing Fibonacci resistanceNifty 50 in a parallel channel drawn on hourly candles is indicating that it might be nearing an important Fibonacci resistance of 24463. Before reaching there it needs to clear today's high that is 24443. Thus the zone between 24443 and 24463 is a huge resistance. One way to clear it would be a gap up opening tomorrow. If that is not possible tomorrow and for the reminder of the week Nifty can be under selling pressure. If 24463 is cleared the next resistance that it will face will be 24544. In case of correction and consolidation the supports will be provided by the levels of 24400, 24362, 24318 (Important Mother line support of 50 Hours EMA) and 24284. Below 24284 Nifty becomes weak and Bears can drag it to the levels of 24242 or even 24169. Further downfall will bring bears into more action and retail investors and DII can go into a full blown profit booking mode. Disclaimer: Please do not trade based on this levels of spot nifty. This post is just for education. This is not a buy or sell recommendation.
NSE:NIFTY
by Happy_Candles_Investment