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Nifty Today: “Bounce Back Indeed, But too early to call a BottomNifty View: Benchmark Nifty index managed a healthy bounce back in today's trading session. At a close of 17,273 the index managed a marginal positive gain of just 54 points but what was more encouraging was a healthy bounce back from the intraday low of 17,048. At this low, the index is teasing the psychological level of 17,000, a break below which can bring in new weakness. On the upside, the confluence of residences now stands close to the 17,450 mark. It will be important to observe in the next few trading sessions whether the index shows the strength to carry itself further and break above the immediate resistance zone. Thank you for following my work and please feel free to share your thoughts and suggestions.         Trade Well. Trade Wise. 
NSE:NIFTY1!
by Abhijit_Paul
Morning Mantra, 8th February 2022Good Morning! Being unable to cross over 17650, Nifty gave us a closing of around 17213 yesterday, which now raises a concern. Therefore, in order to regain the strength, it has now become important for the index to sustain above 17300 for at least the first 2 hours today. Stay Cautious, wait and watch and avoid being too aggressive with your trades as of now. Nifty Levels 15580-15800-16200-16350 -16800-17200-17400-17700-17900-18000-18350 Regards, Alok Daiya
NSE:NIFTY
by alokdaiya
Nifty Today: “Fresh Weakness” - 07 Feb’22 
Nifty View: The benchmark Nifty index loses more than 300 points in today's trade. With this fall, the index goes back to an underlying downtrend which increases the probability of further downsides. But considering the fact that the intraday charts are stretched on the downside, we should not discount a short-term bounce back before any kind of further weakness. In case we notice any such short term bounce back, it will be essential for the nifty to break above the immediate resistance zone of 17,450–70,550. Unless this hundred point range is taken out by the index, one should continue to stay bearish in the market and expect further selling. Strategically this is not the best time to go aggressively bullish, and so it will be prudent enough to stay on the sidelines or create bearish opportunities. Thank you for following my work and please feel free to share your thoughts and suggestions.         Trade Well. Trade Wise. 
NSE:NIFTY1!
by Abhijit_Paul
3
Nifty Outlook: Is This The Last Pivot zone For The Bears? After creating the low of 17836 , we have seen a price surge to 17623. Nifty again reached the pivot zone 17621. If nifty sustains above 17621 , traders can buy for the following targets 17680-17765-17841+. Also, a price above 50 EMA indicates the presence of bulls in the current juncture. Please note that the rejection of the pivot zone indicates that the price is not going above. ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Price had broken out of the value area, and I suggested buying nifty after price entered into the parallel channel. Price has made excess and entered the equilibrium area, where supply equals demand. Currently, the price is on the control line. It controls the up and down movements inside it. Nearly every up or down move in the value area stops at this control price line. It is pivotal support and resistance level inside the value area. It is called pivotal because of how price oscillates around it. If the price sustains above the control line, we have a bullish scenario for 17800+ as I mentioned above. but rejection of the control line will drive the price to 17226
NSE:NIFTY
by forextidings
4