Nifty 50
LTP 14359.45
Support @ 14250
Resistance @ 14650
Weekly charts (long term)
The candles have take support at 20 DEMA which is a good news. Regardless of the poor opening today, we have a green candle after 2 weeks.
MACD is the the bull zone but does show a reversal. We will consider this as neutral.
RSI is moving downwards but is again above the 50 mark. We will consider this as neutral as well.
5 DEMA and 10 DEMA has formed a cluster which I hope will change soon. We will consider is as a weakness.
Final view: Can go long here or wait for a minor dip.
Daily charts (medium to long term)
Just as above, regardless the weak opening, Nifty 50 managed to make a green candle today. Considering this, it does look like Nifty 50 will show a strong recovery.
Another important aspect is that the candle has taken support on the 100 DEMA but MACD has fallen in the bear zone which is not a good signal.
RSI too has resisted the 50 mark.
Final View: Investors can go long and traders should wait and see the new trend and trade accordingly.
Hourly charts (short to medium term)
The most positive thing in the entire study is that we have a bull sign in the Divergence Indicator. RSI has taken support on the 30 mark which is another good sign.
MACD is in the bear zone but if you see, the red candles are fading. We may soon see MACD fighting its way back up in the bull zone if this trend continues.
There is a green candle followed by a confirmation green candle followed by a third green candle which is good again.
What bothers me here is that the candles are resisting the 5 DEMA.
Final view: Investors can go long but traders need to wait and understand the trend as it is quite confusing right now.
15m charts (intraday)
The first thing that I've noticed is that RSI has resisted the 50 mark which is no a good sign. MACD on the other hand is showing strength but again, it is lingering in the bear zone.
5 DEMA and 10 DEMA are crossing their ways which is again a sign of strength but the trend is not clear yet as there is a cluster.
The chart has a clear uptrend which is a good sign.
Final view: Risk taking traders can go long here but I would advise that the ones who want to be safe should wait till the trend is clear.
Overview: Nifty 50 is clearly showing strength but the current trend is not clear. If asked, I would advice to go long.
LTP 14359.45
Support @ 14250
Resistance @ 14650
Weekly charts (long term)
The candles have take support at 20 DEMA which is a good news. Regardless of the poor opening today, we have a green candle after 2 weeks.
MACD is the the bull zone but does show a reversal. We will consider this as neutral.
RSI is moving downwards but is again above the 50 mark. We will consider this as neutral as well.
5 DEMA and 10 DEMA has formed a cluster which I hope will change soon. We will consider is as a weakness.
Final view: Can go long here or wait for a minor dip.
Daily charts (medium to long term)
Just as above, regardless the weak opening, Nifty 50 managed to make a green candle today. Considering this, it does look like Nifty 50 will show a strong recovery.
Another important aspect is that the candle has taken support on the 100 DEMA but MACD has fallen in the bear zone which is not a good signal.
RSI too has resisted the 50 mark.
Final View: Investors can go long and traders should wait and see the new trend and trade accordingly.
Hourly charts (short to medium term)
The most positive thing in the entire study is that we have a bull sign in the Divergence Indicator. RSI has taken support on the 30 mark which is another good sign.
MACD is in the bear zone but if you see, the red candles are fading. We may soon see MACD fighting its way back up in the bull zone if this trend continues.
There is a green candle followed by a confirmation green candle followed by a third green candle which is good again.
What bothers me here is that the candles are resisting the 5 DEMA.
Final view: Investors can go long but traders need to wait and understand the trend as it is quite confusing right now.
15m charts (intraday)
The first thing that I've noticed is that RSI has resisted the 50 mark which is no a good sign. MACD on the other hand is showing strength but again, it is lingering in the bear zone.
5 DEMA and 10 DEMA are crossing their ways which is again a sign of strength but the trend is not clear yet as there is a cluster.
The chart has a clear uptrend which is a good sign.
Final view: Risk taking traders can go long here but I would advise that the ones who want to be safe should wait till the trend is clear.
Overview: Nifty 50 is clearly showing strength but the current trend is not clear. If asked, I would advice to go long.