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NIFTY--Trendline Holds or Break??Observations:: Will trendline acts as support ?? price action is completely in uptrend... today after open a gap up price fall happens strongly... buyers try to make the price higher but failed to close above 19400 level... we can consider this level as a resistance... price is now near its trend line....will see if this breaks or not. if price breaks and retest will enter for short side trade... strong bullishness is observed from the 19250 level after opening gap up... bullish gap left at 19200 is filled, if trendline acts as resistance. Bullish gap ma acts as a support also.... will see tomorrow what happens. keep track these levels. We don't go for long side...we don't have targets to book...price at anytime may reverse after All Time High.
NSE:NIFTY
by IIT-Trader
04 Jul '23 Post Mortem on Nifty Yesterday I was quite ambitious to call the top at 19334 + or 80pts levels. The opening 45 mts and then the subsequent fall from 13.30 to 14.30 showed real signs of N50 running out of fuel. But one thing that really proved me wrong was the intensity of credit spreads getting written at the PUTS side (bullish sign). Although there was lot of unwinding after 14.30, the issue is that CALL side credit spreads are not getting written. If the run of N50 has to be checked we need CE shorts, aggressive big boys who do not run for cover. The lowest friction area for N50 to go is up as there are no resistances — thus making it a real tough spot for call writers. Personally I wouldnt dare writing ATM calls now even though I feel the top is near. 1hr TF N50 for the first time in last 5 sessions closed the gap after a gap-up opening negating a consecutive spree of island day formations. The strong red opening 1hr candle stays lit and I am still inclined to keep the bearish view.
NSE:NIFTY
by viswaram
NIFTY - Gifts, Limits and Taxes!Today assumes lots of importance from observing chart points. Start of New Month, Week, Half Week, Half Month, Quarter, Half Year. Slice in any form, you see a new start! It is also new start for SGX Nifty now called Gift Nifty from our Gift City. If you are twitter buff, Muck limits on Twitter, talk of the social media space, stuns everyone, world appears to have paused. More garbage in your TL than you would like to See. On the Taxes, GST prints new life above 1.5 Lakh Crore, clearly turning out to be an index of how much you are taxed than how much revenue is getting generated. No wonder, some moderation to the tax basket comes. Markets are not worried none of the head and bottom lines of Monsoon, Politics or rise of Agri prices. They are in their own journey. Dont see bears or the supply zone coming anytime before 19380. This trip is towards 20 K plus looks to be the way forward. Global US China politics appear to be on conciliatory mode, no one cares Russia, Ukraine for the time being. Asia Roars, important Data and FED minutes later in this week. Bulls have bolted themselves ahead, bears have to wait for another day. Tough for intra-day calls when markets open huge gap, if we open today it would be ticks of all sorts in the last one week. Save one day all are gap days. Stay on the longs, many individual spaces, sparkling. The sideline story is no longer the approach. FOMO to set and trip those attempts. Supports 19140-19080 Supply 19230-19280-19330
NSE:NIFTYLong
by sreebhashyam
Momentum with Nifty, but it is approaching over-bought zone.Momentum is with Nifty, but it has reached or will soon reach the Zone which might be very close to the overbought zone. Relative Strength Index cooldown / consolidation might also be required for Nifty to scale further highs. If not tomorrow then later next week. RSI will do some catching up and Profit booking at higher levels like we saw towards the end of Wednesday can also surprise. Beware of the Bull trap in some shares with weak fundamentals which might also rise as if they are genuine dark horses. 19000-19020 is the resistance zone now. Top of the channel for current let of the rally can be 19080 to 19200 range. Support for Nifty is near 18945, 18887.6, 18839 and 18796. Bear right now are on Oxygen. Some signs of life can return only if Nifty closes below 18602. Till that time Bulls will be in firm control.
NSE:NIFTYLong
by Happy_Candles_Investment
3
18646 giving a great support can the rally re-launch from here?18646 giving a great support can the rally re-launch from here is the question now. Usually when index or the stock finds a proper support and investors feels confident about the support, there is a possibility of restart or re-launch of the rally from that region. Whether rally will be successful like the previous phase will remain the question. However if the rally re-starts the next resistance will be near 50 Hours EMa that is 18733. Crossing 18733 the most important ATH resistance zone of 18795 to 18887.6 awaits Nifty. Supports at the lower side remain at 18646, 18562 and finally the bears wake up if 18421 is broken.
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY 15 MIN TRIANGLE FORMATION- FOR EDUCATIONAL PURPOSETriangle formation in Nifty refers to a specific chart pattern that occurs in the price movement of the Nifty 50 index, which represents the Indian stock market. The triangle formation is a continuation pattern that signifies a period of consolidation or indecision before the price breaks out in either an upward or downward direction. The triangle formation can be further classified into different types based on the slope of the trendlines: Symmetrical Triangle : In a symmetrical triangle, the price forms lower highs and higher lows, creating converging trendlines. This indicates a period of equilibrium between buyers and sellers, suggesting a potential breakout in either direction. Ascending Triangle : An ascending triangle formation occurs when the price forms a horizontal resistance line and an ascending support line. The price consolidates within this pattern, with higher lows being formed. This suggests a bullish bias, and a breakout above the resistance level may lead to an upward move. Descending Triangle : A descending triangle is characterized by a horizontal support line and a descending resistance line. The price consolidates within this pattern, forming lower highs. It indicates a bearish bias, and a breakdown below the support level may lead to a downward move. Please note that trading decisions should not be based solely on chart patterns, and it's important to consider other factors such as fundamental analysis, market conditions, and risk management before making any trading decisions.
NSE:NIFTY
by vinod0211
Nifty Weekly Analysis for Jun 26 - 30🔍 Analysis on Nifty for the Upcoming Week 🔮 Jun 26 - 30 The Nifty index seems to exhibit a bullish trend in both long-term & short-term as well, according to the market structure. 📈 Key Levels to Monitor: In the upcoming week, it's important to monitor key levels 18535, 18650, 18660, 18890. 🔎My outlook: The outlook for the upcoming week’s trading suggests a directional view (Bullish). 📈 Bullish Scenario: If Nifty breaks out above the significant level of 18887, supported by a strong and clear daily candle, it could indicate a bullish market trend. 📉 Bearish Scenario: However, if Nifty breaks down below 18534, confirmed by a strong and clear daily candle, it may signal a decline towards the 18250 level. 📊 Support Level: As long as Nifty sustains above the support level of 18530, the market can be viewed as bullish.
NSE:NIFTYLong
by venunomula
Nifty Weekly Analysis for Jun 19 - 23🔍 Analysis on Nifty for the Upcoming Week 🔮 Jun 19 - 23 The Nifty index seems to exhibit a bullish trend in both long-term & short-term as well, according to the market structure. 📈 Key Levels to Monitor: In the upcoming week, it's important to monitor key levels 🔎My outlook: The outlook for the upcoming week’s trading suggests a non-directional market, potentially characterized by a sideways pattern. 📈 Bullish Scenario: If Nifty breaks out above the significant level of 18887, supported by a strong and clear daily candle, it could indicate a bullish market trend. 📉 Bearish Scenario: However, if Nifty breaks down below 18534, confirmed by a strong and clear daily candle, it may signal a decline towards the 18250 level. 📊 Support Level: As long as Nifty sustains above the support level of 18530, the market can be viewed as bullish.
NSE:NIFTY
by venunomula