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Niftyoutlook

NIFTY-Today bullish move created to exit the long positions??Observations: -------->>Nifty trending upwards, today it proves that it's a retracement not a reversal sign. -------->> Again showing bullish movement in nifty, witnessed buyers are still in control. today bullish move created to exit the long positions?? why don't we think sooo.... -------->>We suspect that if it is a false breakout in nifty above 18260 level , this time the fall will be below 18060 levels. -------->> At this point 18250 level, sellers are exists by showing a huge gap down , why don't we think of sellers may again push the price towards downside. --------->> If we consider these 2 levels, 18200 or 18100 they are not strong enough to push the price higher, so if price started falling it may clear all these levels, and we have an untested demand zone@17960 levels. NOTE: Is this false breakout above 18260. NIFTY- which level Holds 18200 or 18100 ??
NSE:NIFTY
by IIT-Trader
1
NIFTY--Retracement is to Enter Long Again Not for Sell ??Observations: -------->>Nifty trending upwards (after a huge gap down means not to sell, its a retracement) ---------->>After a strong bullish movement, after breakout from 17800 levels, ----------->>Nifty gives larger retracement towards 18050 levels, this retracement is to enter again long with the momentum upside towards 18300,18500 levels. --------->> consider this an opportunity to enter long from these zones, not to enter for short. --------->>Nifty showing pressure on bearish side, but wait and enter for long here, leaving a demand zone @18000-17960 levels. Be on long side with the movement. NOTE: NIFTY- Bullish from this zone 18000-17960 ??
NSE:NIFTYLong
by IIT-Trader
Nifty Weekly Analysis for May 1-5Analysis on nifty for upcoming week May 1-5: The Nifty index seems to exhibit a bullish trend in the long-term & in the short-term as well, according to the market structure. In the upcoming week, it's important to monitor key levels 17610, 18090, & 18105. My outlook: After analyzing the chart, it appears that the Nifty index had a strong upward momentum last week, gaining 475 points. Based on this, it is my expectation that the market may enter a sideways movement phase with increase volatility in the upcoming week, with the index trading within a range of 500 points, specifically between the levels of 17610 and 18105.
NSE:NIFTY
by venunomula
NIFTY--Retracement or Reversal ??Observations: --------->> After a strong breakout in nifty @17800 level, no proper retracement is observed. --------->> If 18200 acts as resistance we will observe a retracement towards 17800 or 17500 levels. --------->> If price break 18200,we have an immediate resistance @18250-18300, a false breakout may happen here @18200. ---------->>Price wants to test the previous supply @ 17800 level which may act as demand zone to move the price towards upside for the targets of 18200,18500 levels in the upcoming weeks. --------->>This week price is ranging between 17950-18200 levels. Note:: Consider it as a Retracement not a reversal in NIFTY.
NSE:NIFTY
by IIT-Trader
1
NIFTY --Strong Support @17840 -17800 ?? or Reversal @17500Note: Strong Support @17840 -17800 will acts as support go long again from this levels to reach 18100,18200 levels. It is recommended to remain on the buy side within the range of 17800-17840, as no significant retracement has been observed after breaking the supply zone at 17840 level. If this level acts as support, weekly expiry is expected to be bullish to consolidation at (18100-18200). Observations: After trending upwards in NIFTY yesterday, today the price continuously moving upwards, They are now poised to reach untested supply zones at 17920-18100 levels. However,, and if any of the previous supply zones act as support, the price could move back upwards.
NSE:NIFTYLong
by IIT-Trader
Nifty--Expiry Levels.Yesterday, the Nifty demonstrated bullish pressure above the significant resistance level of 17800. As a result, it is expected that there will be a swift retest of this level, followed by a price increase. Support range is 17800-17840 levels. However, due to the monthly expiry, the price is currently consolidating within the range of 17960-17800 levels. It is important to keep an eye on the untested supply zone at 17680, which is anticipated to act as powerful demand in the future.
NSE:NIFTYLong
by IIT-Trader
NIFTY- Will reach 18000 by monthly expiry???Observations: After trending upwards in NIFTY yesterday, today witnessed sellers opposes the price moving upwards, They are now poised to reach untested supply zones at 17700-17680 levels. However, buyers may lack the necessary power to push the price higher, and if any of the previous supply zones act as support, the price could move back upwards. It is recommended to remain on the buy side within the range of 17700-17680, as no significant retracement has been observed after breaking the supply zone at 17680 level. If this level acts as support, monthly expiry is expected to be bullish.
NSE:NIFTY
by IIT-Trader
1
NIFTY-Fall again from LH @17760 (Demand acts as Supply) ???The NIFTY index has once again risen, but it has formed a lower high at 17760, which is the same level as a previous demand zone. Interestingly, this same demand zone now appears to be acting as a supply zone, as evidenced by the fact that prices have fallen back to the 17560. If the price manages to break below the 17700 level, which is an internal supply zone, it is likely that this level will once again act as a supply zone, causing prices to fall further below the support levels at 17560-17520.
NSE:NIFTY
by IIT-Trader
1
Morning Mantra - 25th April 2023Dear All, It was an amazing day yesterday . Wherein, we had observed that after a gap up opening of 17707, Nifty had made a day’s low of 17612 and had thereafter made a sharp recovery from that level. Overall on the hourly chart of Nifty, we can now observe a head & shoulder formation . Wherein, the level of 17800 can be considered as its neckline . Above this level of 17800, we can see Nifty for the level 18134 approx in the near term. Until the time we witness a closing of above 17800, we are still with our words to keep following the Cherry-picking strategy with the stop loss of 17300 , as of now. Besides, the conservative players can go for fresh accumulation only after witnessing a beautiful and a strong closing of above 17800 . Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
NIFTY-Will Rise from this Support @17520-17580 range.The NIFTY has broken the previous strong resistance level 17800 If the same level 17800 failed to acts as a support level, so the price fall back to the untested demand zones at 17580 and 17520 level, which are considered strong levels of support. Observations: Additionally, as we have a monthly expiry this week, it is likely that the price will remain within the same range(17960-17500). Overall Trend is Bullish, observed a low is formed by breaking HL at 17730. Note: In summary, the previous resistance level(17800) has been broken and we can expect the price to rise to 17920-17960 ,if the range(17520-17580) acts as a support. However, the presence of a supply zone(17800-17960) and the upcoming expiry may limit the price movement, and we can expect the price to remain within the range of 17500-17900 for this week. GO long: Price breaks 17660 and gives pullback to 17520-17580,go long for targets of 17700,17800,17960.(Keep on buy side.) GO Short: price broken 17520 and retests to 17580 level act as Resistance go short for downside target of 17450. Keep an eye @ 17700 level where Buyers and sellers exchange.
NSE:NIFTY
by IIT-Trader
1
Nifty at a critical support. 50 and 200 days EMA have been providing a critical support to Nifty all throughout the week. 50 and 200 days EMA stand at 17544 and 17530 respectively. This zone has provided support to the Nifty almost on all days of the week proving that it is the most critical support. If this support is broken Next support for Nifty will be only at 17406 and further down at 17204 levels. However if Nifty is assured of its support the chances are that it can rise from here. The resistances that it can meet on the way up are near 17805, 17869, 18092 and 18261 levels.
NSE:NIFTYLong
by Happy_Candles_Investment
A major support zone got activated today. Market today saw tremendous selling in IT sector, Services and consumer goods. The market however saw a good recovery of about 132 points from bottom on the back of purchase in PSU, FMCG, Auto and some realty counters. Below the zone from where Nifty bounced today, that is 17574 which is near 50 hours EMA we will have supports near 17454 which is 200 hours EMA as well as mid channel support which is at the same level. The zone between 17529 and 17526 is again a major support as this zone has 50 and 200 days EMA. On the upper side we might face resistance near 17738 and 17782. The zone between 17847 and 17923 is a very strong resistance zone. We can have a range bound week or weeks unless there is some strong news or result which can either pull the index above 17923 or drag it below 17454 levels.
NSE:NIFTYLong
by Happy_Candles_Investment
Spot Nifty At A Critical Juncture.Market Outlook The Nifty is poised at a cross road and a critical resistance. Either it can defy the resistance and continue rising further or it can consolidate a bit in the range of 100/ 200 points on either side and consolidate it’s position. Nifty consolidating first and then rallying further will be more logical but Stock market is not the place which obeys reasoning and logic most of the times. Either it becomes too worried or it becomes too fearless and greedy. We investors try to find equilibrium and rationale in the place which often defies laws of consistency in the short term. In the long term everything works fine and falls in a deserving place. Spot Nifty Resistance Zones: 17851, 18004, 18126 and 18267. Spot Nifty Support Zones: 17780, 17713, 17532(Strong Short Term Support), 17311(Final Short Term Support).
NSE:NIFTYLong
by Happy_Candles_Investment
Cup and Handle Formation in Nifty in Progress in the long run.Nifty Outlook: Nifty Looks good for a long haul in the long run. In the short term though Nifty seems a little bit of consolidation before it heads further. RSI on hourly chart shown a need of little bit of strength through consolidation. Which means we may see little bit sluggish end of the week tomorrow as Nifty is already in the resistance zone. This zone might not allow Nifty to escape the clutches easily. But if Nifty does escape this medium term resistance, It can fly ahead with even more power. Medium Term Resistance zone: 17857 to 18100. Long Term Resistances: Long Term resistances for Nifty lies at 18446 and 18887. Medium term Supports: 17614 and 17314. Long Term Supports: 16828 and 16520. Long Term Targets for Nifty which it can reach within This year or by Second quarter of 2024 seems to be 19447 or on the upper side 20160. .
NSE:NIFTYLong
by Happy_Candles_Investment