"Good morning, friends! Here are the directions for April 19th: The global market trend is bearish, supported by the Dow Jones, while our local market sentiment also indicates a bearish trend. It might open with a gap-down start, as suggested by GiftNifty, showing a -350 point decrease. GiftNifty indicates a long gap-down, so I don't know where it will be open....
"Good morning, friends! Here are the directions for April 18th: Nifty and BankNifty both consolidated in the previous session, so structurally, if the gap-up doesn't sustain then we can expect further consolidation for correction. On the other hand, if the market initially takes a pullback, the 23% Fibonacci level will act as crucial resistance. This means that...
Nifty in the last 2-3 sessions has lost 400 points which shows some bearish basis market but it will retrace before another fall. In case of a gap up opening, there will be a sideways expiry for nifty. Otherwise, after a gap down, there will be a recovery or profit booking in positional/swing trades. It trading below the 20 ema (daily) and may come to retest the...
Nifty Analysis - Stance Bearish⬇️ Recap from yesterday: "Ideally, we need one more red candle below 22295 for some bearish safety. 22051 is the next support level which could be taken out pretty easily if the shorts pick up momentum." Nifty hits an intraday low of 22079 today and a decent recovery to end the day at 22177 (22147 weighted average close). Honestly,...
NSE:NIFTY as per EW on hourly charts is suggesting that terminal 5th pattern is ongoing. Short term correction is going on downside in form of wave 4 of Terminal pattern and then wave 5 can start which can be the final rally, you can also call it as a pre election rally before a major top is in place for 2024. A meaningful top can be form after summer solstice...
Nifty Analysis - Stance Bearish⬇️ Recap from yesterday: "On the higher time frame, we have a double top formation (M pattern). To negate the pattern we would have to take out the ATH, otherwise, it looks like a nice setup to go bearish. 22519 is a good interim support level, the main support comes only at 22295." I personally did not punch any manual or...
As we discussed NIFTY yesterday, it opened a gap-down and then continued the momentum. If we look at the chart: The market has broken the pattern to the downside. There is 200-ema support at the downside. I am expecting to take a little bounce back (consolidation) and then continue the bearish momentum. 22385 is going to provide very nice PA support. All...
Nifty Analysis - Stance Neutral ➡️️ Recap from yesterday: "As I write this article, SPX, NDQ, and DJI are down over 1.1%. A spillover effect is definite but because we have a holiday tomorrow, we might have another day of US stock market action left to react." The first real sign of a breakdown. US CPI came in hot due to which the markets reacted pretty badly on...
Nifty is at support which is in line with support hit by US equity too. if all markets hold the support then we can see Nifty towards 23300 which is based on cup and handle formation still holding on as on today.
Except the two corrections as marked, NIFTY 50 is on a steady climb towards 23K. Seems like we'll get there before the first vote is cast in the upcoming elections.
Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: "For tomorrow also we are continuing our bullish view and would like to go neutral if we get a close below 22615" Nifty had a gap up opening and was stuck in a narrow range till 13.11 after which it picked up decent momentum. Nifty almost gained 101 points from the intraday low to take out the previous...
The FASP for Nifty is listed for 10-04-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels...
Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: "Today was an inside day with no real momentum and that does not mean that we are not bullish." Nifty does a gap up and then continues the climb to hit a new ATH of 22697 by 13.19. You would be surprised that the majority of those gains did not come from NiftyBank or NiftyIT, it came from Reliance, LT, M&M,...
Nifty is around the ATH and there is profit booking at the higher levels. The market is spending time near the high and last week too it has test the ATH. Seller are there in the higher levels and closing of the weekly candel is dicey. Higher time frame is showing some RSI bearish divergence and market is forming grave stone doji on the daily...
Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “This is because if Nifty50 reverses, there is no way BankNifty can maintain the positive momentum. For tomorrow we wish to start with the bullish stance itself and go neutral if the 22295 levels are not holding.” Absolutely crazy price action today, we fell a whopping 315 points ~ 1.4% after hitting new...
nifty pullback getting buyers as nifty is in impulse 5 wave. currently it is doing 3(iv) correction and post that vth wave up is expected towards 22700.
Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “We wish to maintain the bullish stance for tomorrow as well, but we will be a bit cautious if Nifty falls below 22393 levels. A stance revision may not be even required till 22295 is broken” As we feared yesterday, we got the drop below 22393 levels but it did not even test the 22295 to mandate a stance...
Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “But before we go long, let us give it a day or two because the reaction today may be the after-effect of the adjustments and rebalancing that was done over the last 2 to 3 days due to year-end.” Nifty was falling gradually, almost maintaining the same slope as yesterday. The final 90 minutes saw some...