Recap from yesterday: “A simple Fibonacci level places the 23.6% retracement level at 19083 and 38.2% at 19227. Ideally, the bearish trend could still be intact until 19227 but the problem is that we cannot predict with certainty if that would come in this weekly series or not. For Monday, I wish to go with a neutral stance and choose the direction...
On December 1, 2022, Nifty reached an all-time high of 18,887. However, since then, it has experienced a downtrend. On March 20, 2023, Nifty hit a low of 16,828, which is nearly an 11% drop from its peak within just 109 days. Fortunately, Nifty has recently started moving in an uptrend channel, and on June 28, it broke its previous all-time high. As of June 30,...
Weekly Analysis 16-21 Jan 2023
Trend will be Bullish (80% Chance)
Reasons & Knowledge applied
1. uptrend Confirmation
with Volume Support
2. Type 2 Strategy of Uptrend
3. Price is Above on Fib 50% Level
Major Week Support 17900 & 17760
Major Week Resistance 18140 & 18390
above 17880 full bullish
before entry just check Volume
should be high from prev candle...
Hi everyone, Nifty50 analysis for 18 jan 22, for tommrow nifty50 index is trading near it`s important support & if goes below 18,120 then targets are 17,900/17,700 (targets identified from harmonic xabcd pattern level 1.618/2.272) if sustain above 18,350 & index can go upto it`s all time high 18,600. NSE:NIFTY
Nifty could fall more if the price manages to close 17968 in day basis.
The breakout below 17968 could trigger a fall up to 17820 and then a sharp reversal can be seen.
The bounce could be up to 18150 from 17820.
Below the 17820 levels, the long unwinding may start. This should be the stoploss for longs.
Keep in mind, the RSI is at 50, if RSI falls below 50,...
NIFTY 50 - Long
Inside Candle pattern Formed
Will Go upwards in next few trading sessions.
Invest & Trade Wisely! Good Luck!
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NIFTY 50 Index (Chart as on 7 June 2021)
* Tested 4 times already at the bottom of the trend channel line and now moving upward
* break-out the head & shoulders pattern
* Clear Signal for a Bullish Market
* Still, chances are there to re-test at 15320-15400 range, as a small correction
* But overall it seems like a bull market for next 1000 points
nifty 50 made a descending triangle pattern in 15 min time frame
it is likely to move on up side in direction of a trend if it goes downwards then a small profit booking is
possible so keep the level in mind for 7th June.
The S&P 500 has shown a decent recovery in the last couple of days. (Inflation woes being resolved?)
The NIFTY is trading very close to its long term Weekly Trendline. Depending on global cues, will consolidate a bit and then make a good move on the upside.
*I reserve the right to be wrong.
For educational purposes only.
As you can see in chart nifty trapped between 14100 and 14950
Once it can Hold 14950 then going to 15250
But major supply zone was 14860 to 14950
In down side move Nifty major support was 14468 . If break it then next support its demand zone between 14256 to 14143.