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Nifty50

#Nifty50 outlook for upcoming week 23-27th Dec 2024The Nifty experienced a tumultuous week, plummeting roughly 1200 points to close at 23587 after reaching a high of 24781 and a low of 23537. This sharp decline was largely attributed to a hawkish stance from the US Federal Reserve, triggering a sell-off in the US market and prompting significant Foreign Institutional Investor (FII) selling in India. The 5% correction from its peak has brought the Nifty dangerously close to the crucial WEMA50 support level at 23426. However, there are signs of a potential bullish reversal forming a 'W' pattern. Sustaining above 23426 will be critical for a market turnaround. Next week, I expect a volatile trading range between 24100 and 23000 . A breach of these levels could lead to significant market moves. The monthly Nifty chart also indicates weakness, suggesting further downside potential towards the 22250 support level, representing a 5.7% decline from current levels. This presents a valuable opportunity for investors to prepare a watchlist of their preferred stocks and strategically accumulate positions during any further market correction
NSE:NIFTY
by ssudhirsharma11
Nifty Short Term Analysis. Nifty today has given a poor closing below 200 days EMA but the only saving grace can be that the closing is just above Mid-Channel support of 23500 and Important Fibonacci support of 23263. These Two supports are broken then more hell can break loose and we can get to see the next Fibonacci supports being tested. The next Fibonacci supports can be near 22509 or 21585. On the positive side if either of the support is held and then we can see a new rally in Nifty wit resistances at 24718 and 25347. It looks like Nifty will take some time to reach new highs as the the mode is bottom searching and consolidation as of now. Fresh rally and Bullish recovery can start only after we get a closing above these 2 levels. However, this can be a good time to go long by picking good blue chip stocks available at good valuations. Disclaimer: 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
Three Year Parallel Channel of Nifty with Multiple indicators. We have tried to draw a Three Year Parallel Channel of Nifty with Multiple indicators. We will try to understand what is happening as per each indicator and try to get the jist of moves that may occur with a medium to long term perspective. Indicator 1) Parallel Channel: The parallel channel indicates that after hitting the channel top at 26277 the Nifty is receding and is on a search of it's bottom from where it can launch forward again. That is the case when every time Nifty has it a channel top as you can see in the chart. The Future Channel Top once Nifty picks up the next Bull run seems to be around 29497 as per the parallel channel. Mid channel support of the parallel channel is around 23500 zone which can support Nifty. If we get a weekly closing below 23500 this level will become a resistance. In such a scenario of weekly closing below 23500 Channel bottom seems to be near 21296. Indicator 2) Fibonacci Retracement: Fibonacci retracement suggests a bottom near 23263. If this level is broken there is a possibility of Nifty falling to the next fibonacci supports will be at 22506 and 21577. Once the Bull run begins the next resistance levels as per Fibonacci seem to be at 24725, 26777 (Previous high), 27162 and finally 28331. Indicator 3) Bollinger Band: Support with respect to lower width of Bollinger Band seems to be near 23340. Mid Bollinger band resistance seems to be near 24660 and Bollinger band upper width resistances seems to be near 25981. Indicator 4) RSI or the Relative Strength Index: RSI currently is at 44.41 and going downwards showing weakness. The RSI support can be found in the zone of 40, 38 or 36. Usually When RSI is below 30 the stock or index is considered oversold and when the stock or index RSI is above 70 it is considered overbought. RSI Below 20 is extremely oversold zone and RSI above 80 is considered extremely overbought. Indicator 5) MACD or Moving Average Convergence and Divergence: MACD is a combination of Moving averages lines which tend to indicate direction in which stock or index will move and histograms indicate strength or weakness of a rally. As per MACD Nifty right now is in extreme Bear grip and will take a little time to recover. When the Blue line will start moving upwards and when it might cross the red line and continue to move upwards it can be considered as Nifty will come back to Bull Zone. Colour of histograms at that time will also start going Dark Green or light Green. Indicator 6) 50 and 200 weeks EMA or the Mother and Father line: I have designed a theory called Mother, Father and Small Child Theory. As per this theory the movement of index or a stock in the chart is like a movement of a 3 year old child when it goes to a garden. The movement of 50 EMA is like movement of the mother and movement of the 200 EMA is like movement of a Father of that child. To know more about this theory or other indicators mentioned earlier you need to read my book THE HAPPY CANDLES WAY TO WEALTH CREATION. This book is available in Amazon in paperback or Kindle version. It is one of the Highest rated book in the category. Have a look at that book it will help you immensely in your wealth creation journey. Now as per this theory the Nifty right now is at 23587. 50 Weeks EMA is at 23403. 200 Weeks EMA is at 19335. as the Nifty is above these levels both these levels will work as a great support to Nifty and can help Nifty from falling further. Conclusion: Nifty is approaching multiple supports from where it has potential to turnaround. Mid channel support is around 23500, 50 Weeks EMA support or the Mother line is at 23403. 23340 is the Bollinger band lower band width support. Fibonacci support is at 23263. We can see a turnaround mostly from either of these three supports. If these supports are broken by chance (looks less likely but you can never say never) then the next supports will be at 22507, 21296 or worst case scenario as of now looks like 19335. On the upper side resistances seem to be at 24660 Fibonacci mid resistance, 24725 is the Fibonacci resistance, 25981 is Bollinger band upper width resistance and 26277 is the Fibonacci resistnace which also the previous high of Nifty. Once this zone is crossed in a long term we can reach the targets of 27162 Fibonacci resistance, 28331 Fibonacci golden ratio resistnace and 29497 which is the approximate nex channel top. (This is the Medium to Long term outlook of Nifty). This is how you can analyse any index or a stock using the 6 indicators mentioned in the writeup. I give top most priority to these 6 indicators in my analysis. Disclaimer: Disclaimer: 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
Can The Major Support Zone Save Nifty From Falling Further?There is a triple Support zone that has been reached by Nifty. The Zone between today's low that is 23870 and 23692 has multiple supports of a trend line and Father Line of 200 day's EMA. Let us see if we have a revival from here. If that will be the case the next resistance zones will be 24019, 24175, 24416(Major Mother Line Resistance of 50 day's EMA) and 24529 (Major Trend Line Resistance). If the support of 23870 is broken we will have to rely upon 23962 that is the major 200 day's EMa of Father line. If we get a closing below 23692 or the Father line. Bears will become more powerful and we may see them control the game. In such a scenario the supports will be at 23350, 23088 and 22828. So very critical weekly closing tomorrow. Shadow of the candle for tomorrow is neutral to negative. Disclaimer: 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
As Expected Mother Line resistance has come into playAs we had expected in Yesterday's message the closing below Mother line yesterday meant that Mother line resistance was supposed to come into play today and it did. Nifty made a high of 24394 and ominous mother line resistance was near by as can be seen in the chart and Nifty got rejected from there. Now Nifty is tossed into bottom searching mode. Today's low that is 24149.85 was a support zone and we saw a closing above it at 24198 which is the silver lining in the cloud. If 24150 is respected tomorrow we can start seeing some range bound upside. If the support of 24150 is not respected and we get a closing below this level the further supports for Nifty will be at 23904, 23803 or Strong Father line support at 23689. If 23689 is broken we can see a low of 23291 or so as of now. On the positive side if the support of 24150 is respected by Nifty the resistances on the upside will be near 24311, 24435 (Strong Mother line resistance), 24627, 24793 or even 24960. 24960 is a strong resistance to cross but if and when it is crossed we can see more upside as Bulls will start calling shots above this level. Thus the most critical supports are 24150 and 23689. Most critical resistances will be 24435 as of now. Disclaimer: 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
2 Red Candles throw Nifty back to support searching mode. 2 intensive Red Candles with big selling throw Nifty back to support searching mode. The strong support zone is round the corner. The chart shows Nifty is nearing 2 major trend line supports at 24257 and 24175. If these 2 supports are broken further supports for Nifty will be at 23904 and 23803. Final Mega support for Nifty will be 23684 (200 day's EMA or Father Line Support) and recent low of 23291. On the upper side resistances galore at 24445 (50 day's EMA or Mother line) followed by 24627, 24793, 24960 and finally 25209. The selling has come on the back of Rupee hitting all time low and fears over US FED slowdown in the Rate Cuts in the year 2025 as inflation is not abetting and is continuing to grow. US Markets have already priced in 25bps rate cut for the ongoing FEd meeting. But more worry is regarding the commentary about 2025 and 1 or 2 more US FED meetings decisions before Trump administration takes over. With Nifty nearing critical support levels mentioned earlier volatility, bulls Vs bears FII Vs DII intense struggle is on cards. Bears have had an upper hand so far this week but Bulls can stage a fierce fight back any time within this week itself once Nifty confirms support. Disclaimer: 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 searching for upward momentum. Nifty has again held on to the Motherline support of 50 Hours EMA today and if it is able to cross the resistance of 24698 more upside can be on the cards. In such a scenario the resistances on the upside in addition to 24698 will be at 24775, 24852, 24975 and finally 25147. The supports for Nifty on the lower side seem to be at Mother line of 50 Hours EMA which is at 24852, 24398 Father line support of 200 hours EMA, Mid channel support at 24290 and finally the support is at 24174. Below 24174 Nifty become very weak. Above 25147 there will be a parallel channel breakout and Bulls will become very powerful. The signs are positive and despite a negative day on the browsers shadow of the candle is neutral to positive for tomorrow. Disclaimer: 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:NIFTYLong
by Happy_Candles_Investment
#nifty50 - 16th DECEMBERNSE:NIFTY Nifty 50 Chart Analysis - Key Insights & Trading Plan Key Observations: Support and Resistance Levels: Support: 24,497 | 24,586.95 | 24,662.40 Resistance: 24,783.85 | 24,837.90 | 24,891.90 Price Movement: The price witnessed a downtrend followed by a strong recovery. A sharp upward movement has brought the price near 24,783.85, a significant resistance level. Current Position: The price is hesitating near the 24,783.85 resistance level, signaling a critical decision point. Trading Plan: Bullish Scenario: Breakout Above 24,783.85: Target: 24,837.90 → 24,891.90. Stop-Loss: Below 24,750. Bearish Scenario: Rejection at 24,783.85: Target: Support levels at 24,662.40 → 24,586.95. Stop-Loss: Above 24,800. Consolidation Strategy: Range-Bound Movement between 24,662.40 (support) and 24,783.85 (resistance): Buy near support, Sell near resistance. Summary: Breakout → Go long (buy). Rejection → Look for short opportunities. Watch for volume confirmation during breakouts or rejections to confirm strength. im not SEBI register.
NSE:NIFTY
by thetradeforecast
Nifty Short, Medium & Long Term : 16-Dec-24 to 20-Dec-24Nifty Short, Medium & Long Term : 16-Dec-24 to 20-Dec-24 Nifty closed at 24677 (last week 4276) , for last 30-40 days nifty was in sideways movement. last week on the last day market touched 24200 and bounced back to 24677 . RSI at 60.37 ,Macd signal is more than MACD and in positive for last 2 weeks (after 2 months). But stochastics levels is sustaining above 90%, overbought position for the last 3 weeks. Buy call on dips was given last week. Market bounced back in the last day and near to key resistances. FII started buying, in positive for Dec month, however not full fledge buying, hence please filter the stock, diversify investment in equities with lesser risk stocks. However, SIP on stocks/ MFs always better at this critical time. Maharashtra election win and US acquittal of Adani in bribe crime is a positive news and definitely helped Indian market to sustain above 24000. Outgoing RBI governor didnt change the interest rate. Interest Rate reduction and Feb Budget is the key for the market to move above 26000 to next targets of 27000. I started adding the stocks and Mutual Funds during this downfall for the last two weeks and continue to buy if there is further fall. Use the opportunity and grab the good value stocks or invest in Mutual funds. Assume each parcel can be 5-7 % parcel of your total investment planned in the near term. Kindly read the Bitcoin Blog which i have written in Sep & Oct 24 with clear Indications to Buy with target of atleast 77000 and it touched 100,000 as Trump won the US Presidential election . Caution was emphasized on Nifty for last 4 months as nifty PE (Currently in22.8) was in high level with high valuation especially in Mid cap & Small Cap. PE touched 21.5 and bounced back. Mutual Funds SIP shall be invested as the goal is for more than 5-10 years at this critical period , further market correction can happen upto nifty index to 22800 from current level, Individual value stock picking is a key at this critical time. Fundamentally good stocks to be invested at these times. My Stock analysis of diwali recommendation from major financial agencies/ analyst and also some of the stock which is good as per my analysis will be provided upon request in comment section . Individual need to analyse on their own. Further additional fundamental good value stocks ( which i have analysed ) . Please note these are all not stock recommendation, rather an analysis. Individual Can analyse and add to your portfolio based on your risk profile. Nifty 24768 (PrevWeek 24677 ) Short term Nifty short term resistance at 24800 0.5 Fib Resistance, once crossed 25122 (0.618 Fib Resistance) and 25350( Shoulder Pattern) is the next target. Support at 24329, and 24199( Last week Low) and 24000 Medium Term next target is , if move up decisively above 25350, next target is 26268 ( all time high)and 26968 (1.618 Fib Resistance) Medium term Support 23265 ( Nov low),23000 and 22800 Long Term : Nifty have a target of 27740, 28000 & 28190 ( Fibonacci Resistance). Support at 21240
NSE:NIFTY
by karthikss
Nifty is again a rising star..We today saw Nifty rising like a Phoenix to close the day at 24768 after making a low of 24180. In one of the most volatile session Nifty gained 588 points from day's low. The rise was from the right side bud of the star formation which gave superlative support to Nifty on the weekly chart. The weekly candle formation is of the shape of Thor's hammer which means further upside cannot be ruled out subject to Nifty closing above 24860. In such a scenario further resistances for Nifty will be at 25240 and 25514. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. Link to buy my book from Amazon is available below in my signature. 25514 is the sigma resistance of the Star which can be little difficult to conquer but in case this level is conquered by Bulls further upside of 25665, 25919 and finally 26K+ levels cannot be ruled out. Supports for Nifty remain at 24500, 24184, 23907, 23396 (Mother line of 50 Weeks EMA) and finally 23187 which is the channel bottom support. Disclaimer: 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:NIFTYLong
by Happy_Candles_Investment
Nifty50 Important levels and analysis - 12 Dec 2024After a 10-11% correction the Nifty50 found support at 23250 on 21 Nov 2024 which now acts as a stop-loss for Long term investors. It broke the sloping trend-line on 25 Nov 2024 with a gap-up open, finding resistance at 23350 retraced to 23850 and then made a strong up move, this formation is a ideal setup for Swing Traders, who might have taken a trade at 24350 with a stop-loss at 23850. Next smaller resistance was at 24540 which it broke convincingly on 5th Dec 2024. But over this past one week, that strong move from 23250 has fizzled a little, which until yesterday was alright but today's 12 Dec 2024 bearish candle indicator re-tracement back to 24350. Even though the market is in Rally mode, Level 24753 needs to be broken convincingly for this trend to continue. But it may take some effort as this level (24750) was the base level of the head and shoulder pattern that had formed over Sept-Oct. I am expecting sideways moves in the near term, in the range of 24350 to 24750, but will turn bearish if 24350 support is broken. And bullish only if 24750 is broken with good volumes Disclaimer: This is purely educational and part of my learning, I cannot provide any recommendations, just my educated analysis based on my experience, please consult a financial/investment advisor (which i am not) for any investment/trades.
NSE:NIFTY
by Mukadam
Trendline sending Nifty in consolidation mode. Trendline sending Nifty in consolidation mode for last few days. The positive thing is that Nifty is still holding above 50 hours EMA which we call Mother Line. The Mother line is at 24545 and the closing we got today is 24548. So Mother line still remains support. There is an additional support at 24500 too in addition to Father line which is 200 Hours EMA is also a very important support. Father line is at 24364. Below 24364 Nifty will become weak again and we can see it fall to the levels of 24100, 23907 and 23187. Resistances for Nifty remain at 24723, 24904, 25240 and finally 25514. 25514 will be a strong resistance. If we get a closing above 25514 Bulls have potential to grip the market very firmly and take it to previous highs if not new highs. Disclaimer: 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:NIFTYLong
by Happy_Candles_Investment
1
Good consolidation by Nifty. Getting ready for another jump?The positive close today and the movement inside the star is indicative of a small or medium jump before it takes another break for consolidation if Nifty can continue to hold ground and close above critical resistance of 24743. Crossing and closing above 24743 is very important for this to happen. If we get a closing above 24743 the next resistances will be at the levels of 24904, 25240 and 25514. 25514 region looks again like a strong resistance zone which will require another consolidation or strong Bullish momentum to cross that zone. If Nifty is not able to close above 24743 then the current rally can become weak or we can even see fizzling out of the same. In such a scenario the supports for Nifty will be at 24422 (50 EMA Strong Mother line support on daily candle chart), 24294 and 24100. Below 24100 there is a strong support zone between 23907 Star base support, 23648 (200 days EMA very strong Father line support on daily chart), 23187. (Which is a very very strong support as it has the star bottom coinciding with Channel bottom support.)(This seems to be the worst case scenario as of now in unlikely circumstances). If you want to learn more about charts, Candle stick analytics, Fundamental analysis, Mother and Father line importance, How to book profits, how to find a balance between Technical and fundamental analysis through Happy Candles Numbers, understand behavioural Finance and other interesting topics by learning which you can make your money work harder you should read my book THE HAPPY CANDLES WAY TO WEALTH CREATION which is available on Amazon in paperback and kindle version. E-version of the same is available on Google Play Books too. The link to purchase the book is available at the bottom of this page in the signature section. Disclaimer: 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:NIFTYLong
by Happy_Candles_Investment
Mother Line supported Nifty to bounce back from day's low. Nifty made a high of 24677 but then felt heat of the resistance and fell over 167 points until Mother Line supported Nifty to bounce back from day's low. Nifty closed flat to slightly negative at 24610. Closing -8.95 points in the negative. Closing above Mother line again is a positive sign with indices like Realty, IT, PSU Banks, Metal, Finance, MNC, FMCG, services ending in the positive. The laggard indices were PSE, Auto, Pharma, Consumption, Capital Goods, meida, infra and Energy. Nifty Supports remain at: 24584, 24501 (Mother line support of 50 Hours EMA), 24328 (Father Line support of 200 Hours EMA), 24172 (Mid channel support), 24005 and finally 23869 closing below which bears can take control of Nifty. Nifty Resistances remain at: 24641, 24693, 24759, 24858 and finally 24981 (Chanel top resistance) Above 24981 closing there can be another massive bullish breakout in Nifty. Disclaimer: 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:NIFTYLong
by Happy_Candles_Investment
Nifty still consolidating after hitting the channel top. Nifty is in consolidation mode after making hitting the channel top last week. Nifty is also squeezing between support and resistance trend line with very less space remaining for maneuvering. Thus a big move on either side can be expected in a day or two. Positive movement continued in Mid and Small cap indices. The sectors that remained positive on Monday were IT, PSUs, Realty and Metals. The laggard sectors were Auto, Media, FMCG, PSU banks and Energy. The supports for Nifty are at: 24584, 24507, 24467 (Mother line support of hourly candle), 24307 (Father Line support of hourly candle), 24172 (Mid channel support) and finally 23869. Below 23869 the Nifty will become very weak. The Resistance for Nifty remain at: 24641, 24759, 24858 and finally 24961. (24961 will be the channel top resistance). Link to by my book on stock market investing is given in the signature section in this message below. Disclaimer: 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
#NIfty50 Outlook for upcoming week 9-13th Dec, Nifty Rallies, Bu The Nifty 50 index concluded the week on a high note, closing at 24,677, a significant 550-point surge from the previous week. The index oscillated wildly, touching a high of 24,857 and a low of 24,008. As predicted, the index faced selling pressure around the 25,000 level, a critical resistance zone that triggered a downward trend in late October. For the upcoming week, the Nifty is expected to trade within a range of 24,100 to 25,000. A sustained break above 25,000 could propel the index towards 25,250. However, a pullback to retest support levels is likely before the next upward move. Meanwhile, the S&P 500 index gained 1% to close at 6,090. Key resistance levels for the S&P 500 are 6,142 and 6,225, while support levels are 6,013 and 5,963.let's see if US market this week also support world market or not.
NSE:NIFTY
by ssudhirsharma11
Cup and Handle kind of structure forming in Nifty. Nifty has given a good closing despite ending below the weekly high today. This week's high that Nifty achieved was 24857 while the closing is at 24677. The closing is substantially above 50 Week's EMA at and 50 days' EMA which is at 24396. this should be considered good reversal signal subject to we get a closing above 24857 within next week or the week after. FIIs selling has diminished and buying has emerged. There was little bit of DII selling seen on the browsers indication a little bit of profit booking or sectoral rotation. If you look at the chart a prominent structure of cup and handle is emerging which is again indicative of a positive indication. Those who are sitting on cash can slowly start building positions. The support for Nifty remain at: 24396 Strong support (Mother line of Daily chart) , 23882, 23340 Very strong support (Mother line of weekly chart), 23194 strong support (Mid channel support), If there is some adverse local or global news out of the blue all of a sudden as there is a substantial fall in unlikely circumstances the channel bottom support seems to be at 21229. (Highly unlikely scenario). The Resistances of Nifty Remain at: 24857 strong resistance (Weekly High), 25377, 25827 (Strong resistance), 26277 (Previous high and very strong resistance). Once we cross and get a weekly closing above 26277 in a long term the next strong resistances will be at 27269 (Cup and handle top and very strong resistance). Channel top in the long run 4 to 9 months from now seems to be at 27801. To know how to read charts and to know about Happy Candles numbers, parallel channel and my famous Mother, Father and small child theory read my book THE HAPPY CANDLES WAY TO WEALTH CREATION available on Amazon. The link to purchase the book is at the bottom in the signature section of the chart. Disclaimer: 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:NIFTYLong
by Happy_Candles_Investment
Mother Father and small child theory proven right again. The moves that we saw in Nifty today were volatile, insane, bullish. Bears tried their best to stem the rally but Bulls won big with Mother line on daily chart providing / confirming support and giving ashirwaad. The low for Nifty was 24295 the high was 24857. The candle moved violently between the 2 extreme points. Mother line gave proper support and pulled Nifty up again closing the day at 24708. Again proving that when Mother and Father line give support or ashirwad there can be no stopping. Support for Nifty remain at : 24385 (Strong Mother line support), 24295, 23936 and 23607 (Father line). Below 23607 Nifty can fall again in bear grip. Resistances for Nifty remain at : 24723, 24857, 25036 and 25212. Above 25212 Nifty will be totally in Bull grip. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. Disclaimer: 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:NIFTYLong
by Happy_Candles_Investment
Wave B up on NIFTY is near completion. Wave C down may unfold ..NSE:NIFTY seem to be completing wave B up of larger ABC down which means the final leg (C down of ABC) should unfold soon. Wave B has done slightly more than 38.2% of 5 wave fall in A and has also reached wave 4 levels. Further, C within B's ABC has achieved 61.8% equality of wave A which is the minimum requirement. I can also count 5 waves up within C of this B's ABC. All of this makes me wonder if B is complete and it's time to switch direction ...
NSE:NIFTYShort
by YetAnotherTA