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Nifty 50 False Breakout CONFIRMED!Attached: Nifty 50 Weekly Chart as of 17th March 2023 This Week's Candle has Closed below the Trend Line drawn from the October 2021 Highs, after having broken out above that same Trend Line back in October 2022 So Price went from giving a Breakout to New Highs of 18,887 in Nov 2022 to slipping back below 18,000 and now it is back below the Very Important Trendline of Oct 2021 This is a Signature of a Classic False Breakout or what you may call a BULL Trap ! The Chart is as simple as it can be for you to understand with the Trend Lines and the Arrows There is a saying in Technical Analysis: "From False Moves come Fast Moves in the Opposite Direction" So Expect the Bear Market in Nifty 50 to Unfold from here Downside Targets are Now Open for: 1) September 2022 Lows to Breaks 2) June 2022 Lows to be Challenged Next
NSE:NIFTYShort
by T_Harth
A word of caution for Investors, Nifty's downside targetsin.tradingview.com Nifty has been performing poorly since the last three months, even if we leave the index constituents aside, the situation is even more dire in midcap and small cap indexes some of which can be attributed to the Adani stocks. Adani stocks, put pressure on the banking index and banking index constituents especially SBI collapsed due to the grenade explosion orchestrated by Hindenburg's report. Meanwhile Nifty IT, Nifty metals, Nifty AUTO did try to give support to the market, despite these sectors performing there was a broadway midcap sell off conducted in the last 3 months. Recently China opened its borders and said it was ready to shrug off covid(finally!) and open its borders for business. This news set the Chinese markets blazing and were up nearly 40% from their near time lows. Moreover the valuation comfort in the chinese markets which were nearly half as expensive as their Indian counterpart, gave fuel to the FIIs sell off. As Indian markets was the place where FIIs could book their yearly profits and pocket their fat bonus cheques. Now coming to the mother market, US. DOW Jones had been a failure for the 5th time last week to give a weekly close above 34k levels.(link to the explanation below). The inflation numbers had been blazing hot, new mortgage applications at a 25 year low, fed's target rate 4.5-4.75 % already high enough to give US residents a headache and further talks to increase it by 50 bips, phew ! It is now becoming highly probable that there might not be any soft landing now and the fall, consuming many , will be a hard one. Since US would be raising rates further, despite the situation being fine in India, Indian RBI governor will have to raise rates in India to arrest any declines in Rupee vs US dollar, which will ultimately put pressure on Indian equity markets too. Many Indian banks are already offering fixed deposit rates as high as 7-8.5%(and further high if you are a senior citizen). If you look deeper, soverign gilt funds are offering good options too and Indian treasuries are offering yields as high as 7.4%, imagine what the equity markets have to compete with ! Alas, I would like to say, overall macros and micros do not look good for the equity markets across globe. For all the investors/traders who entered the markets post covid, and "BUY on dips", was their holy sentence, my suggestion to hold your horses for the time being , take a step back and assess what the markets are trying to convey. My targets for Nifty over the next 6 months might seem to be disturbing but I have tried to chalk out the scenari that Im able to foresee. Let me know in the comments what do you think about market future.
NSE:NIFTYShort
by TanmayAggarwal
4
Why are the Indian Markets falling?In the past couple of days, Indian markets have shown a major correction. The Nifty Bank Index corrected more than 6% while the Nifty50 Index came down by more than 3%. The main reason for this correction is the research report published by Hindenburg Research (A US based investment research firm) which suggested that Adani stocks may crash upto 85% crash purely based on fundamentals and also highlighted some major irregularities in the business and accused them of pulling 'The Largest Con in Corporate History'. The research firm has opened short positions in Adani securities in the international markets. This may also disturb the upcoming Adani FPO. All the companies that fall under the Adani group have shown a major crash with huge today: 1.Adani Enterprises: -18.52% today i.e: -627.50 2.Adani Green : -20% (lower circuit hit) i.e: -371.55 3.Adani Ports : -16.29 i.e: -116.20 4.Adani Transmission: -20% (Lower circuit hit) i.e: -503.55 5.Adani Power : -5% i.e: -13.05 6.Adani total Gas L: -20% i.e: -732 7.Adani Wilmar L : -5% i.e: -27.20 Gautam Adani, the chairman of Adani group lost more than $20B of wealth in a single day according to Forbes. Thus, going to the 7th rank from the 3rd in the richest people in the world list. This report also highlighted the amount of debt on the Adani group, this created a fear of banks defaulting the loans and major banks like HDFC Bank fell almost 2% and SBIN who is also the biggest money lender of Adani group corrected by 5%. This in turn dragged the Nifty Bank Index down. For the next few days, it is best to avoid trading Banknifty as it is going to be very volatile in the coming days and technical analysis won't be reliable in this type of news driven market and day traders should prefer trading Nifty. However, option premiums will be very expensive due to the IV spike in the market. The closest buying zone for Banknifty is above 40820 only if it sustains above it for minimum 20 minutes. The aggresive buying zones are 41500 and above. Stocks in the IT sector and Reliance need to show strength to bring nifty up. Investors should be ready for a few more bearish days. The market may show signs of reversal after the Union Budget if there is some positive news in it which will be revealed on the 1st of February 2023. Disclaimer: Not investment or trading advice
NSE:BANKNIFTYShort
by Shivraj_Patil_
TESLA Short, Head & Shoulder TOP!$TSLA aka Elon Musk's Tesla CMP= $204.99 Attached: Weekly Price Chart as of 14th October, 2022 - Price has triggered a Head & Shoulder TOP Pattern Breakdown - Tesla still has a PE of 74 which is Overvalued and Expensive compared to Peers and Unsustainable in a FED Tightening Environment Elliot Wave Counts say that a Larger Degree 5 Wave Impulse in Wave 1 has completed from its 2019 Low and Now Price is in Larger Wave 2 down. The normal target for Wave 2 is considered as the 4th wave of lower degree. And in this case it comes to around $130 to $110 as the Target requirement So Price can Half from here literally. SUPER BEARISH, Perfect Short🐻🩸 Downside Targets🎯 are open to in order: T1= 180 T2= 135 T3= 110 Ultimately Tesla may find Support at the $100 round figure mark but will it be the final bottom or just another bear market rally from there will be seen that time
NASDAQ:TSLAShort
by T_Harth
1
finding Tops | Nifty Targets | Crash - Hedge yourself !!This is How I try to learn to catch Tops and bottom, Market is like an "Infinite Sea"- full of earnings & looses.. but beauty of this sea is that it behaves in a systematic manner like a nature which is very well explained in Elliot Wave theory and Neo Wave theory . A good entry and exit always gives u maximum return and vice versa for that u really need to have patience and principles while jumping into this "financial SEA" like I have shared charts where market gave u signal of exit and u can play for some extra ordinary moves, now its upto you, how you find your entry and exits as per your appetite, either in ending diagonal from 17150-17992 or bouncing wave of new Downside move post ending diagonal completion. Market always gives u few chances to safeguard your money in case of reverse moves. for example in just 2 days market fell 660 points from tops but still retraced approx. 300 points on upside i.e 50% retracement, even if u exit u loose hardly 300 points out of 2700 points move. well If you have seen my previous post where I catch the bottom of 15183 for new up move & if one has invested that time could have earned 2200-2700 points depend on your entry point or 18% in nifty and waited patiently for swift exit by finding such patterns which fulfills top making criteria's. Trust me the best Part of finding tops is Media + Pattern ( a deadly Combination) , they(media) make the maximum noise during tops and bottoms which gives u good indication of such areas ( pattern ) to plan your next counter moves. Now Very likely we are going to see a "Covid Style Crash" (in Diametric pattern, which we will have detailed study in my upcoming post) yes this is likely the much much awaited fall since 2 years who have missed taking part in the Crash, I believe major indian traders ( the enthusiastic youngsters) entered post Covid Crash - for fundamentals we have many topics to discuss post this crash like few of them will be Economic Crises, recession, Wars , Bankruptcy etc.. !! Lastly as I said, market give opportunity major of the times to face few situations repeatedly in your life span which gives u very great Sailing experience in this financial SEA Thanks & Regards Self Analyst Vishal Sancheti
NSE:NIFTYShort
by VishalSancheti
1
Can nifty touch 13000 levelsChart is only for illustration purpose My time study shows that if market conditions do not improve then Nifty can fall near its 5 year moving average which is near 13000 levels and for that Nifty will first have to travel the levels mentioned on the chart. If the market reverses from any of the levels then a new rally is not expected at least till Sep 2022 crosses. A major shift in the market will happen after 31 Mar 2025 and the is expected to have a huge rally.
NSE:NIFTYShort
by pushpitchhabra93