Good Morning Mates.
Nifty exhibited volatility but achieved a significant milestone by closing above 19600 for the first time in a while. The bullish crossover of the MACD signaling an ongoing bullish trend. Additionally, a bullish crossover in the RSI highlights the index's strength.
In the short term, Nifty may target levels of 19800/19991 or even 20200+....
Nifty is Ultra Bullish as predicted, you can short for scalp at the zone near the all time high with very small risk.
Zones & Levels Above- 18874-887, 18917, 18975, 19033
Zones & Levels Below - 18807-823, 18756-770, 18700-710, 18649-641, 18598-591
NIFTY is experiencing a pull back, don't get bearish as of now
Zones and Levels to watch in intraday
Zones & Levels Above - 18625-638, 18701-719, 18764-777, 18820-839
Zones & Levels Below - 18542-531, 18458-478, 18303-324, 18202-214
Nifty will obviously follow the path of Bank Nifty towards All Time High
Levels & Zones Above - 18520-538, 18612, 18669-692, 18799-821, 18874-881
Levels & Zones Below - 18415-435, 18303-324, 18202-214, 18042-057, 18958
Nifty seems to be bullish yet following are the zones and levels to trade with good R:R
Zones Above - 18387-389, 18473-457, 18520-529, 18612, 18669-692
Zones Below - 18180-195, 18104-124, 18042-071, 17957, 17836-851
Nifty has moved from it's long period consolidation and has given a throwback to it's CIP trendline. Can expect NIFTY to make new ATH within next 2 months given it stays above the trendline.
Disc: Views are for educational purposes only.
1. We can see an ending diagonal forming on the Nifty50 chart on the 1hr tf .
2. The retracement levels have been mentioned which gives us more evidence of the market following the wave pattern.
3. We see a strong trend resistance of the market. Once the resistance is cleared, we can look forwards to buying calls or selling puts, whatever...
Nifty is still in a side ways volatile trend, till it remains between 17750-18250
Zones Above - 18010-17990, 18076-054, 18112-135, 18238-250, 18300-318, 18445-473
Zones Below - 17945-967, 17897-884, 17828-815, 17778-764, 17728-724, 17662-647
Hope you enjoyed the precision of levels today on 16th November 2022
Levels for tomorrow 17th November 2022
Levels Above - 18604-581, 18496, 18457-423
Levels Below - 18284-294, 18225, 18117-103, 17973-956