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...
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...
22972 --22998 (No trade zone) Closing below 22972 in hourly could be bearish 📉 to below levels marked on the chart Any closing above 22998 in hourly is bullish 📈 ( will post upside levels if it sustains ) Disclaimer: It's a personal view not a financial advice and I assume no responsibility and liability whatever outcome arises
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...
Today we have a red candle with Low High and Low Low. The price could retest the level of 22800 which is an important retracement level. Also the bands are in an expansion zone. The probability on down side is more than 50%. Intraday trade range S1-22,800 | R1-23,100 Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
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...
As we discussed, Nifty has completed its 2nd wave and touched the mentioned target. If we look at the chart now: The market is trading in a heavy supply zone. Also, in the second half of today, the market had a huge PE windup. After this huge momentum, the market needs some consolidation to move on either side. There was a huge volume spike that shows the...
Nifty opened inline and traded in a short range, this came as a pause after the range expansion that came on 23rd. Since there are no resistance levels as we are at ATH, no one could guess with accuracy what will be the top. Our stance remains bullish and will go neutral only if 22779 is broken.
Expect NIFTY to test 25,000 levels in coming few weeks . NIFTY on weekly gave a rising wedge upside breakout which is a low probability event . Low probability events lead to trapped buyers/sellers on both sides. Price usually reached the approximate height of the pattern where both will enter/exit new positions. Cheers @piyushrawtani
still market manipulating people on going uptrend be careful market can turn any moment dont fall on fake sideways showing as uptrend still now its under channel sideways its not uptrend hope u be on safe trade happy trading
Nifty Analysis - Stance Bullish ⬆️ Nifty had an impressive 417pts ~ 1.85% intraday rally, although the bullishness was predicted - I was quite surprised that we had such momentum today, and that too before election results. But if you look at the data objectively, what we had today was quite reasonable. After all, we were breaking out from the all-time highs and...
For the next potential level I use Fibonacci Extension. So, the next Important Level to consider is 23274.55 Also the expansion in both bands is equally distributed, this indicates the uptrend will continue. Disclaimer: This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.