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Niftyindia

Nifty returning from 22591 indicates strong resistance zone.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 and PSU are moving towards exaggerated valuation. PE investing or comparing the 10 year PE to the current PE of the stock should be the way to go for investors. Do not get trapped at levels which might not return for years. (I am nor fear mongering but that should be the case in every and any circumstance anyway.) Nifty Supports levels: 22470, 22402, 22345, 22257 and 22055. Nifty Resistance levels: 22530, 22591, 22658, 22730 and 22831.
NSE:NIFTY
by Happy_Candles_Investment
Good move ahead if mid channel support is held by NiftyGood 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 the way to overcome it faster. Shadow of the candle is positive for the beginning of the week.
NSE:NIFTYLong
by Happy_Candles_Investment
Good closing by Nifty just above mid-channel resistance. 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 take full control of the market and in such a scenario we can see Nifty climbing to the highs of 22730 and 22801 in the coming week or weeks. On the lower side, today's low of 22345 is a good support followed by Mother line support of 50 Hours EMA at 22235. Below 22235 Nifty becomes week and we might again see the levels of 22055, 21937 and 21815. Below 21815 closing Bears take total control of the market. Nifty is interestingly placed with shadow of the candle being neutral and it was a Doji candle that we saw today emphasizing the tussle between bulls and bears or shall we call it a tussle between FIIs and DIIs + Retail investors?
NSE:NIFTY
by Happy_Candles_Investment
Remarkable Comeback Nifty but now faces Mid-channel resistance.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 not able to cross the Mid channel resistance the supports will be at 22298, 22215 and 22054. Nifty will be very weak below 22054. Shadow of the candle is looking neutral to negative but if FII jump into action (which unlikely) then frantic upside is possible. Volatility and peak tussle between FII and DII might continue.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Squeezing in tight space between supports and resistances.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 major resistance. Nifty barely touched it and returned closing fractionally below 50 hours EMA. Trend line resistance and support are also acting not allowing Nifty to move much in either directions. FII is selling on every rise. DII is buying on every dip. Very interesting phase which is testing the patience of investors is going on. All we need to do is watch important levels, important results and important data. Holding on to what we have high conviction in and letting go of what is not convincing valuation wise is important. Not reacting to market noise and filtering out your portfolio is important, before the next bull run begins. If it has not already begun. Important Resistance Levels: 22242, 22302 (200 Hours EMA) Father line, 22400 mid channel resistance and 22501. Important Support levels: 22148, 22068, 21937 and 21815 (Nifty becomes very weak and goes into bear grip below this level.)
NSE:NIFTY
by Happy_Candles_Investment
Good Closing For Nifty but major resistance ahead. 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 they can push the nifty towards 22501, 22598 or even 22695. In case the resistance of 22273 and 22309 are not crossed by Nifty successfully the supports for Nifty will be at 22205, 22096, 22020 and finally 21937. Below 21937 Nifty has only one support of channel bottom at 21815. closing below 21815 can empower the bears to run havoc but shadow of the candle looks positive right now.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty received some support from bottom and the Home Minister. 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 gave a closing above it at 22104 as seen in the chart. However formidable resistances at 22177, 22207 and 22317 remain to be conquered. Bulls can breath easy only above this level. Also FIIs might further sell at every bounce. Unless FII and DII both are buying volatility will remain at the forefront. Supports for Nifty at lower levels are at 22020, 21938 and 21769. Below 21769 bears can create further mayhem.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty trying to bounce after bottom formation. 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 22339 will be the next major resistance levels. Bulls can breath easily only after we get a closing above 22339. In this case the future target will be 22502. In case we get a closing below 21938 in the coming week the next support level will be at 21769. (Right now charts do not suggest that we can get a closing in Nifty below this point but in case we get a closing below 21769, bears will play major havoc and can drag Nifty even to sub 21K levels.) However this does not look probable right now as shadow of the candles look positive (Green) but you can never say never. Bulls have potential to fight back above 22070 levels and specially can take centre stage if we get a closing later this week or the next above 22339.
NSE:NIFTY
by Happy_Candles_Investment
Dangerous H&S Pattern forming on Nifty.(Pending confirmation)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 to 21962, 21769, 21543, 21142 or even 20968 levels in a short to medium term. In that case I will consider it a buying opportunity only. Things will start to become sour only if we get a monthly closing below 20968 levels. On the brighter side today Nifty has taken a support at 50 days EMA. (Mother line). In case bulls are able to take control from here on the levels on the upper side will be at 22488, 22592, 22691 and finally 22800 levels. If Bulls have to fight back it has to be in next 2 or 3 days. Shadow of the candles is neutral right now.
NSE:NIFTY
by Happy_Candles_Investment
2
Even after the dramatic fall on Friday Nifty looking strong.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 way to avoid it will be to open gap up above it.), 22691, 22799, 22873, 22973 and 23039. Channel top seems to be around 23155. If the support at 22388 is broken and we get a closing below it, the supports will be at 22348, 22186 and finally channel bottom support near 21962 (in very unlikely event). The shadow of the candles is positive right now but there will be profit booking effort at every rise. Bears will try to fight the bulls who were taken by surprise by the bear attack on Friday.
NSE:NIFTYLong
by Happy_Candles_Investment
1
Strong higher high higher Low pattern on Hourly chart. Positive.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 be at 22709, 22881, 22967 and finally 23026. Shadow of the candle looks positive.
NSE:NIFTYLong
by Happy_Candles_Investment
Resistance zone between 22783 and 22755 comes into effect.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 resistance zone is imperative. Supports for Nifty on the lower side in case of consolidation or further profit booking will be 22544, 22508 and 22358. If 22358 is broken we may see bullish grip weaken a bit and in this scenario bears can drag the Nifty further down to 22200 or even levels below 22000. The zone between 22544 and 22508 is an important support zone for Nifty now.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Delicately placed near the support zone.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 supports of 22404 and 22316 are respected we may see the Nifty rising upwards with resistances at 22458, 22545, 22625, 22692 and 22775. Shadow of the candle looks neutral with slightly positive bias.
NSE:NIFTYLong
by Happy_Candles_Investment
What does Arrow in the chart of Nifty say? 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. If we get a weekly closing above 22625 Nifty can quickly make new highs in the coming days with resistance at 22692 and 22775. In case the mid arrow support is broken tomorrow we may see a down side with supports at 22545, 22481, 22430, 22380 and 22304. Below 22304 Nifty becomes weak again and bears can start calling the shots. Shadow of the candle is negative to neutral as of now.
NSE:NIFTY
by Happy_Candles_Investment
Very Positive close by Nifty indicating more bullishnessMore 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, 22780 and even 23K+ levels in Nifty in the coming weeks or months. Supports on the lower side for Nifty in case there is some negativity remain at 22201, 21972, 21784 and 21716. Below 21716 bears again take control of Nifty.
NSE:NIFTYLong
by Happy_Candles_Investment
Market Outlook: Israel and Iran Conflict continues to haunt. 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. Right now main factors driving the market are global. One in global inflation and commodity prices (Specially metals/ Precious metals and crude oil) and Israel and Iran conflict. Local factors are firmly looking good and no changes seen. If there is a full scale war the imp act will be Global and no market will remain insulated from the same. But India because of local factors and neutral stance (which might be challenged as well) will be the first or the fastest to bounce back. Supports for Nifty are at 22113, 21722, 21145 and finally 20767. Resistances for Nifty will be at 22214, 22306, 22421 and 22513. Disclaimer: The Purpose of this analysis is purely for Education. Any decision to invest in shares of F&O should not be taken based on it. This is just to show you how technical analysis works.
NSE:NIFTY
by Happy_Candles_Investment
Again Nifty reaches a difficult resistance Zone. Again Nifty has reached a difficult resistance zone which is between 22773 and 22808. This is a difficult zone to cross as it has a fibonacci resistance as will as the ATH Resistance. If we get a gap up opening and a nice sustenance there after above this resistance it can resolve the problem of the resistance band. In this case further resistances will be in the range of 22898 and 23018. In case the zone acts as a difficult zone to conquer the supports for Nifty will be near 22622, 22561 and 22422. Shadow of the candle is neutral but momentum is positive so it will be an interesting day Bulls and Bears both will try to snatch the initiative. Also weekly closing has potential to keep things more interesting.
NSE:NIFTYLong
by Happy_Candles_Investment
Profit Booking seen after Nifty makes new high. Nifty in the early morning trade made a high of 22768.4 thereafter there was profit booking seen as expected post most highs. While receding the Nifty has taken support at 22622 and closed the day at 22642.75. These 2 levels will be important levels going forward. In case of further continuation of bull rally if we get a closing above 22769 the New targets or resistance zone for Nifty will be zone between 22769 to 22808. Closing above 22808 will open the doors for 22898 and 23000+ targets. In case the resistance zone between 22769 and 22808 is too tough to cross the support zone will be 22622, 22509, 22422, 22309 and finally 22250. Below 22250 Nifty becomes weak and Bears will try to snatch the control. Shadow of the candle right now is neutral today.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty can scale further highs if it sustains above previous ATH.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 closed not only above mid channel resistance but also trend line resistance which is in the same range. This dual resistance can be little stiff to cross. If it is crossed and held, next resistances will be at 22301, 22449 and finally 22526. In case the hurdle of Mid-channel resistance is not crossed the support levels for Nifty will be at 21877 (50 days EMA), 21710 and finally 21544. Shadow of the candle is neutral with positive bias indicating consolidation in the range or a further up move.
NSE:NIFTYLong
by Happy_Candles_Investment
Chart says JUST DO IT...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 All Time high of 22619. At this juncture there is a very strong trend line resistance from where there was a drastic fall. The support levels indicated in earlier messages / posts were tested as the Nifty again jumped after taking the support near 22303. Nifty ended the day again finding itself trapped at 22514.65 which is a strong resistance zone indicated since many days between 22500 and 22530. Once Nifty gives a closing above this zone there will be strong bullish moves across the sectors. Until then Nifty Supports will be at: 22470, 22417, 22350 and finally 22164. Nifty Resistances will be at: 22520 to 22530, 22587, 22636, 22690, 22787 and 22830. In the long run investing in fundamentally strong stocks that are giving a technical is a great idea. So... JUST DO IT .
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty in a mild resistance zone after making a new ATH. Nifty in a mild resistance zone after making a new ATH. After making a new ATH at 22529.95. As it did not close successfully above the previous all time high that is 22526 it has become a mild resistance. Momentum is good for it to make a new ATH tomorrow but the resistance may act again if it is not a gap up opening above the same level. In case of Nifty not able to cross and close above the hurdle the supports will be at 22434 and 22350. 22214 to 22252 is a strong support zone as of now. Resistance zone will be 22500 to 22529. If that resistance is successfully taken down the next resistance will be near 22597, 22690 and finally 22787. Shadow of the candle is looking neutral but the momentum can be helpful.
NSE:NIFTYLong
by Happy_Candles_Investment