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Longnifty

06 Mar ’24 — New ATH, yet again - are you a believer now?Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “Nifty managed to pull up and close above 22358 which is not a bad thing at all, but what was worrying is how NiftyIT traded today.” 4mts chart How many of you really thought we would hit a new ATH today? Even if you happened to read yesterday’s post-mortem report - you might not have gathered enough courage to go long. The markets really took all of us for a ride today. The opening hours it spent below the 22295 support showing a strong intent to fall. NiftyIT was trading with deep cuts and went almost to negative 558 points by 11.39. BankNifty on the other hand started strong and stayed strong and could pivot NiftyIT to go green. Even though the market views all favored us, the positions did not. The underpricing of the call options and the strong short-covering really hurt us. What is more saddening is the low conviction of the CALL short sellers, the moment the market turns - they run for cover. And this running away is fueling further upmove which triggers the next strike’s covering. The strength of the last 2 GREEN candles requires no special explanation. Right from the support level, it went and took out the all-time highs. Two things were in favor, firstly the strength of Banks and then the massive reversal of NiftyIT. We are maintaining our bullish stance for tomorrow as well, but we are not expecting 22600 to be broken tomorrow. 63mts chart
NSE:NIFTYLong
by viswaram
LONG NIFTY - Weekly Forming H&S BottomNSE:NIFTY is forming or has formed H&S bottom on weekly chart. Price is looking good to stay long in this market and on the upside. Intermittent whips may come on the downside for intraday moves till 18128 but only if the following levels are breached - 18583, 18385 & 18297. Positionally the trend is up itself. If the green weekly trend line is breached at 17800, that is when we can re-evaluate the trend and see how much downside this index has opened up for. Disclaimer - - The view expressed here are my personal views. I am publishing this for my own records and what I see on charts. - If you're referring to this, please consider this ONLY FOR educational & research purposes. - Past performance is not a guarantee for future predictions - Any decision you take, you need to take responsibility for the same. DO NOT consider this as an investment suggestion. - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - Do your own analysis and consult your financial advisor before investing. TIA!
NSE:NIFTYLong
by nerdywasabi
Nifty : Are we Right on Time ?!Certainly Not ! Because, usually I post out Nifty before 9.15 am & its not the same today. Not a prob, but are we right on Timing the Nifty to our expected zones ? Well, Nifty needs to tell Me that. Just based on few presumptive reasons, I ascertain Nifty will reach out to 9750's zone between May 31 - Jun 2 & I may be completely wrong. Honestly, in My opinion Timing the Markets don't even matter unless you trade options. If we don't see a close above 9580's 9600's , Mostly we will be retesting the 9500's zone before the further upmove towards 9750's. This can be used as positional setup but go as per the timeframe you use to trade, look out for possible trade-setups. What I have mentioned on the chart is an approx. idea of how you can go in, that doesn't mean - its perfect entry, that's just My Plan. In the same way, you will be having an idea based on timeframe you use or trading method. Let's see whether we are right on Time...
NSE:NIFTYLong
by InsiderB
10