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Nift

Nifty weekly analysis for 30/10/23.Nifty has given a green candle after a fall of more than 3% in the week. It is given a retracement after the fall and the fall may continue as global sentiment are also showing negativity. Moving averages are also showing bearishness as nifty has closed below Weekly 20 ema but took support from daily 200 ema. If the daily level is broken, selling may continue. The market has recover 1% in the last trading session and closed above 19k levels. In the hourly charts, there was a resistance from 20 ema and entire day it couldn't close above the level. Support :- 18870, 18720, 18650 Resistance :- 19080, 19250, 19420 The markets are unpredictable, there are chances of showing some retracement continuation and testing 19250 levels or open gap down and giving another selling leg. Wait for the setup and price levels. Option buyer can take a overnight bearish trade if there is a selling tomorrow.
NSE:NIFTY
by TheMamboMomentum
Nifty weekly analysis for 11/09/23.Nifty has given a nice bullish move of 2% on the weekly charts and has closed above 19800 levels. There is a nice bullish marubozu candle on the weekly charts and it has come after a consolidation. On the daily charts, market hit our targets on 19850 and reversed after hitting the target and has closed 92 points high forming a doji candle on the high. Nifty has travelled nicely giving retest and moving higher. Indian market looks bullish and there are chance of nifty reaching the recent high. On the hourly charts, there is a bullish flag and pole pattern and market has closed above both the moving averages. On 15 minute charts, there is a clear depiction of consolidation and breakout and how it can give big target. Nifty gave break out and consolidated and continued the up move after another consolidation. Support :- 19805, 19740 Resistance ;- 19860, 19970-90 No major resistance is there for nifty and can retest the recent high. If the market continues to travel after breaching the ATH, it can reach 20500 levels soon. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
Nifty monthly expiry analysis for 31/08/23.Again nifty after a gap up opening couldn't sustain above the 20 ema and in the second half of the trading session came for selling, closing flat. On the hourly time frame, market took support from 200 ema and showed some positivity but couldn't sustain and came for selling closing below both the moving averages. Market has reversed after testing the 61.8% fib levels and the sell off good in volumes. The market has closed around the day low. Tomorrow being a monthly expiry there are chance of a trending market as the market has been in a consolidation phase. Even on the 15 minute time frame, the market has closed below both the moving averages. Nifty was stronger than the other index. The sell off was a trending one and if continues for selling then it will be a short term downtrend. Support :- 19310, 19250, 19180 Resistance :- 19360, 19410,19470 The market has resistances in a small range which will be difficult for the market to break. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum