Nifty 50 IndexUpdated NIFTY OUTLOOK This week - 21/12/2021 to 24/12/2021
Nifty Daily chart shows technical outlook how trade can be on this week.
Firstly using technical indicators we will see what will be downside and upside targets of nifty this coming sessions,
Technical indicators
1. Death cross of moving avg seen at 17950-18000 odd level, from there nifty fall at 16800 level, then take support & bounce back to 17500 odd level, rite now nifty 16985 level at closing last week after sharp correction.
2. Nifty bellow 20, 50,100, days moving avg at closing on last trading session.
3. Flag pattern clearly shown on daily chart now. whereas downside candle at circle shows strong support at 16800 level breaking this support nifty further fall at 16500 level next week. upside above 17050 closing nifty can hit target 17200-17500 level .
4. at present market run by negative sentiments due to global omicron fear. so more then fundamental and technicians, omicron fear will rule the Market, but at same time how global market react to that fear our market too react same manner .
Other technical indicators .
* RSI (14) = 38.6
* MACD (12,26,9) = -133 bellow center bearish.
* MA ADX - red bearish
HAPPY TRADING. !!
Firstly using technical indicators we will see what will be downside and upside targets of nifty this coming sessions,
Technical indicators
1. Death cross of moving avg seen at 17950-18000 odd level, from there nifty fall at 16800 level, then take support & bounce back to 17500 odd level, rite now nifty 16985 level at closing last week after sharp correction.
2. Nifty bellow 20, 50,100, days moving avg at closing on last trading session.
3. Flag pattern clearly shown on daily chart now. whereas downside candle at circle shows strong support at 16800 level breaking this support nifty further fall at 16500 level next week. upside above 17050 closing nifty can hit target 17200-17500 level .
4. at present market run by negative sentiments due to global omicron fear. so more then fundamental and technicians, omicron fear will rule the Market, but at same time how global market react to that fear our market too react same manner .
Other technical indicators .
* RSI (14) = 38.6
* MACD (12,26,9) = -133 bellow center bearish.
* MA ADX - red bearish
HAPPY TRADING. !!
Note
ABOUT Death Cross ..When short term moving avg (20) cross over long term moving avg (50) or 100 or 200 from upside this is called as death cross.Note
india_vix volatility index at present 16.34 up by 2.78% which means volatility will be more. !Note
at today closing session nifty seen some recovery from 16450 odd level and close at 16614 ..so next few session resistance will be 16800 and support is 16450.Note
As Resistance 16800 broken upside today session next upside target for nifty 17050 whereas earlier resistance 16800 will be intraday support now 16800 !
Note
Nifty open a gap up today as on 23-12-2021 , gap up above 17050 . if this level hold first 1 hour then nifty can see 17150-17200 as next level on short covering at expiry.
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