Nifty was unable to break the 22519 support, the entire day we spent hovering around this support resistance level - but the sheer inability to break shows the lack of strength of the Bears. I would have maintained the bearish stance if we had at least 1 candle below this level. Currently, the next support level is at 22295 and the resistance level is at...
As we discussed, Nifty had a sideways structure; it was sideways the whole day. If we look at the chart now: The market is trading in the range while taking good resistance at 200-EMA. The market is very volatile as VIX is 24.60. the market is trading in the range 22465 - 22639. If we look at the last two candles, it is a huge volume from the support...
Good morning, friends! 🌺🍬 Here are the directions for May 31st: The global market continues to show a bearish sentiment based on the Dow Jones, while our local market also shows a bearish trend. Today, the market may open with a slight gap-down, as indicated by GiftNifty, which shows a decrease of 25 points. Nifty and Banknifty moved in different paths in the...
Hourly closing below 22584 -- 22609 will be 🐻 📉 📉 to 22428 and 22280 22280 could test within 3rd June Any closing sustains above 22609 in hourly then 📈 📈 Disclaimer: It's a personal view not a financial advice and I assume no responsibility and liability whatever outcome arises.
Over the last 1 week, Nifty hits a new ATH of 23110 and falls 3% ~ 693pts. On a week-2-week basis, we have only fallen 395pts ~ 1.72%. What is more important is that we have started a nice reversal, what needs to be seen is if we get a stronger fall this time. On every other occasion, the dip buyers emerged and ensured our indices were continuing the one-way trip...
As we discussed, Nifty had a bearish structure; It has fallen by 287 points. If we look at the chart now: The market is trading in the bearish zone below 200 EMA. The market has taken support from the 0.50 Fib level while making a Morningstar pattern with a very nice volume spike. Price is trading below EMAs, showing a weak bull structure. If we look at...
If next hourly candle closes below 22582 -- 22589 then more 📉 📉 could be possible to below levels marked on the chart If closing sustains above 22589 then SL hunting 📈 to 22689 and if it sustains above then will post upside targets 22280 and 22100 levels could test within 4th June Disclaimer : It's a personal view not a financial advice and I...
Good morning, friends! 🌺🍬 Here are the directions for May 30th: The global market continues to show a bearish sentiment based on the Dow Jones, while our local market also shows a bearish trend. Today, the market may open with a slight gap-down, as indicated by GiftNifty, which shows a decrease of 70 points. But, I'm not sure if this is due to global issues or...
NIFTY Intraday Trade Setup For 30 May 2024 Bullish-Above 22810 Invalid-Below 22760 T- 23000 Bearish-Below 22680 Invalid-Above 22730 T- 22480 NIFTY has closed on a bearish note with 0.8% cut today. It was a low volatility day as overall range it traded was 22800 and 22700. It opened with a decent gap down of 125 points and in this case 10 o'clock range was to be...
Over the last 2 sessions, we tried to explain why we would have to go directly to bearish from bullish. One of the reasons was that we fell below the level that had 2 double tops in April & May. Secondly, there were no additional support/resistance points in between for a neutral zone. What I am not sure about is, whether we can continue the downward momentum,...
As we discussed, Nifty had a bearish structure; It has fallen by 187 points. If we look at the chart now: The market is trading in the bearish zone. The market is trading near the 0.38 fib level, which might provide a good support zone. But I am expecting the market to further go down till fib 0.50 (22481) levels. All the important levels have been marked...
Good morning, friends! 🌺🍬 Here are the directions for May 29th: The global market continues to show a bearish sentiment based on the Dow Jones, while our local market also maintains a moderately bullish trend. Today, the market may open with a gap-down, as indicated by GiftNifty, which shows a decrease of 90 points. Today, both Nifty and Bank Nifty have similar...
NIFTY Intraday Trade Setup For 29 May 2024 Bullish-Above 23000 Invalid-Below 22950 T- 23230 Bearish-Below 22850 Invalid-Above 22900 T- 22630 NIFTY has closed on a bearish note with 0.19% cut today. Index traded inside yesterday's range and did not trigger any trade. In the weekend we discussed that after ATH breakout, chance of a small pullback or consolidation...
Nifty remained in sideways to negative trend throughout the session After recent rally, the index is showing lackluster trend As long as Index remains above imp support of 22800 it can show rebound towards next resistance level However in case of Bearish Pattern at higher levels, the index can come back to prev week range Keep Tracking Charts *For...
After we had a slightly red day, i am not changing my stance to bearish yet. I would prefer the 22781 critical support to be taken out before going short. I still believe N50 is catching its breath after the 1100+pts run from 16th May, but the moment we fall below 22871, we are going below the previous ATHs and that could prove quite tricky. In the last 2...
As we discussed, Nifty has a sideways or bearish structure; it ended sideways in 1st half, then bearish later 2nd half. If we look at the chart now: The market has broken 50 EMA and a good support zone to the downside. Also, an EMA(13, 50) bearish crossover is about to happen, which might lead to a bearish market structure. The market is making an HNS...
Good morning, friends! 🌺🍬 Here are the directions for May 28th: The global market is maintaining a bearish sentiment based on the Dow Jones, while our local market suggests a moderately bullish trend. We might see a neutral to slightly gap-down start today, as indicated by GiftNifty, which shows a decrease of 15 points. In the previous session, Nifty had sharply...
NIFTY Intraday Trade Setup For 28 May 2024 Bullish-Above 23030 Invalid-Below 22980 T- 23230 Bearish-Below 22870 Invalid-Above 22920 T- 22630 NIFTY has closed almost on flat note with minor cut of 0.11% today. It opened with 80 points gap up and then buy triggered near 12 o'clock which did not hit our target and revered to day low taking out our sl midway....