Nifty forming rounding bottom near the major support level, if the price action completes the pattern then we can see nifty to continue its uptrend. However there's a descending trendline which is working as a resistance therefore this trendline has to be cleared to complete the rounding bottom. Support for nifty is 18050 - 18000 & nearest resistance is the...
- In trending market the index has taken major supports from 50ema multiple times
- Next support zone if 27000 is broken on closing, next support on 26500 levels
- Oscillators also going near OS zone, keep an eye
This is the monthly chart of Sensex.
A trendline is seen right from 2008; and current trend (from dec 2020) is taking support from this trendline.
Also, current level is facing resistance from a crucial psychological barrier, which is the ATH (All time high) of sensex; 52537.89.
This barrier is also a resistance point according to the Fibonacci...
The SGX is 40 odd points down, so expect a gap down opening.
The US markets did not give a great closing, (rallied in the session but closed around previous day's close.)
India VIX is below 18, meaning the fear of a big crash has abated.
Bullish Scenario: The market may gap down,
test yesterday's low (15390), and move higher or stay range bound through the day....
Some conflicting signals:
India VIX has been closing below 20(good sign), occasionally giving a spike scare then abating within the session.
Not much buying seen from FIIs/DIIs. In fact the FIIs sold 660Cr and DIIs bought only 112Cr. Yet market closed marginally in green. Is the market being kept afloat for a while?
The RSI divergence can be easily noticed on...
This is follow-up on NIFTY. Can check link to related ideas.
Next target can be 15,300 and 20,000...
Chart is self explanatory. Entry, Targets and Stop Loss are mentioned on the chart.
Disclaimer: This is for demonstration and educational purpose only.
It is at the top end of its rising parallel channel . As per Ichimoku it is also at a Price & Time Axis reversal . An hourly close below 14525 would validate the reversal for 14250/13750 . View would get negated if it gives a daily close above day high after triggering a down move.
Nifty halted through the first two resistance lines on the recovery path but slashed through the last two as if they never existed.
This is parabolic up move on weekly chart and this is initiated by the flows from FIIs.
Eventually a profit booking week is going to come and that will be mostly the third or fourth week of Dec.
Another round of up move will be...
NIfty 50 index has gone back up the important trend line that ranges back to it's inception in 1991.
GFC 2008 was only other incident when NIFTY went down this trend line for substantial period.
However when it went back up on the trend-line, it stayed there up until the crash of Health Crisis.
Now, Nifty has recovered from the crash and went back up on the...
Nifty after a strong impulse from 6824 didnt get a strong impulse move up. and started moving in different channels at different wave time.
the wave counts posted are just a possibility and should be traded with caution. its invalidated if the high is broken 8964.
if the high holds strong then trend change is here in nifty.