Niftyindia
Nifty 50 view for next week 29/05/23.Nifty on the weekly time frame has given a nice bullish candle and has closed above the resistance zone. It has consolidated for 2 week in the range and has given a break out.
The market has formed a good bullish pattern on the daily time frame as it has taken a support from the 61.8 fib level. The market has been taking support from the 20 ema.
On the hourly chart, market has remained bullish in the last trading session.
Bullish entry can be initiated if the market sustains above 18450 levels.
Support :- 18450, 18280, 18090
Resistance :- 18680-700, 18870
Positional and swing trades can be initiated once the market retest the resistance zone.
Wait for the price action near the levels before entering the levels.
Is nifty ready for major Upmove ?Nifty 50 is near its supply zone again. faced resistance multiple times at this level.
important demand and supply zones are marked in the chart.
for major movement on upside or downside Nifty has to break the marked portions till then stay back and relax !!
allow 15 minute candle to close on either side of the area marked in red, for the targets mentioned in the chart.
Note: trade with appropriate position size along with proper stoploss according to your risk appetite.
Nifty Expecting Higher prices next weekNIFTY has formed a falling wedge pattern at a confluence of Trendline and Horizontal Support level. Expecting prices to test highs of this week once again in the coming days. 18,050 remains crucial level for longs . Stop loss can be placed at this level. Price might pullback to support levels before moving higher.
Cheers.
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Nifty weekly analysis for 08/05/23.The overall market in the last month has shown some positivity. Now the index is trading around a crucial resistance zone i.e. 18180-18250. There is a possibility of a retest and formation of a double top pattern.
Market has trapped some buyer as it closed above 18200 levels and the gap down took their Stop losses.
In the coming week the market can give another bearish candle, retesting the 18k levels.
Even the RSI incidator is shown bearish divergence. The market are at the same levels but the markets are lossing the strength as it has moved a lot.
The entry in moving average strategy was initiated.
Levels for next week
Support :- 18000, 17830
Resistance :- Markets are holding on the upper levels. So, buy only once market trades trading above 18250 levels.
Wait for the price action near the price levels before entering the trades.
Bullish market can turn around and bears can takeover.
Century Tex & IndustriesBuy near 635-640
Tgt 665 ,685
Sl 620
Above 700 More upside possible for 725 ,740
nifty 50 intraday trading setup4 types of movement may occure in nifty 50 according to monday market opening
1. very big gap up
2. normal gap up above trend line
3. flat to slightly gap down opening
4. big gap down opening below friday,s low
**Note:- in weekly tf bearish engulfing candel formed, so sentiment is bearish. But in shorter tf it may create noise. so choose your segment wisely.