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Niftyindia

Nifty weekly analysis for 03/04/23.Nifty has taken a nice support from the 20 ema on the monthly time frame forming a doji candle. Finally, closing has been above 17k levels and on the weekly charts, there is a morning star pattern formation. Even on the daily time frame, the market has closed between both the moving averages. The market has given a nice bullish move after a gap up. Global market are also showing some positive moment and there can another gap up in Indian market. On the hourly charts, the market has moved very nicely and took resistance around 17400 levels. Market has closed above both the moving averages showing some bullishness in the market. Support :- 17300, 17200 Resistance :- 17380, 17450-60, 17600 Wait for the price action near the price levels before entering the markets.
NSE:NIFTY
by Mambotrade
Nifty daily analysis for 31/03/23.Nifty has been trading in a range for last 4 trading days, finally giving a close above the 17k levels but still trading near the resistance zone. The market on the hourly charts, is showing a higher high higher low formation and the halt candle are showing some trend reversal signals. The market on the expiry day has given a nice upside movement. There are resistances and there will slow moment as the general bull market shows. On 15 minutes time frame, the market has formed a double top formation near the 200 ema and in the last hour has given a break out and closed above it. Support :- 17050, 16920 Resistance :- 17200, 17300-20 Wait for the price action near the price level before entering the market.
NSE:NIFTY
by Mambotrade
Nifty weekly expiry prediction 29/03/23Nifty for last 3 trading session has been holding a support zone and closed almost flat. There are chances of a trend reversal and if it happens nice bullish momentum can be captured. Market has been consolidating in a narrow arrange and tomorrow being monthly expiry can give good trending market. In the second half, nifty remained in 50-60 points. A nice support zone aroung 16920 has been created and it has been respected. On the hourly charts, the market has been taking resistance from the 20 ema and today also traded below the Moving average. The market can move violently as the RSI indicator is showing bullish divergence. Support :- 16920, 16860 Resistance :- 17060-85, 17200 Bullish trades can be initiated once the market start trading above 17k levels. Trailing Stop loss or small targets can be booked. Wait for the price action near the price levels before entering the market.
NSE:NIFTY
by Mambotrade
NIfty - Possible bounce from 16750-16780 areaNIfty in comparison to even US where there is major issue with banking sector has been very bearish. It has taken support from 16850 region where there was a gap and has tested it a couple of times. But the area of 16750-16780 which has provided major resistance and support from where price has moved very violently has still not been tested. IMO this area is going to be tested probably this week and Nifty should get a meaningful bounce upwards from this area. Reasons for the possible bounce: - 1. Major resistance (supply) and support (demand) area at 16750-16800 which has provided huge moves in the past. 2. Nifty has left this space by not testing it in previous days and has been unusually bearish with no green candles. 3. Extreme short positioning in options and futures by FIIs which could lead to short covering on expiry day. 4. End of the fiscal year and quarterly expiries coming up. Mutual Funds will try to boost NAV to show better returns for their schemes. I think similar to what we saw in Dec 2022 there was sudden bounce to boost quarterly returns, could repeat this month as well. Plus expiry this week is on Wed which could lead to short covering quite early. Nifty would likely test this area on Mon and Tue maybe and then bounce on Wed. A good bull put spread at around 16800 should give a decent trade (due to higher IVs which will drop) with SL of 16740. Any 15 min closing below 16750 should be taken as a sign of further bearishness leading to move towards 16500. Happy Trading and Best of Luck!! Disclaimer - This is not trade recommendation or advice. This is purely for educational purposes. Do your own research before entering into a trade.
NSE:NIFTYLong
by DashSam
Nifty weekly analysis for 20/03/23.Nifty on the weekly time frame has given a lower wick rejection and closed above the 17000 levels. It has been trading below the 20 ema. There is a bearish moving averages cross over on the daily charts. There are chances of market retesting the moving averages and giving another sell leg. For the last 2 trading session the market has been forming dragon fly doji showing some positive sentiments. On the hourly charts, the market has shown a 'v' shape recovery and has closed above the 20 ema. Even the RSI indicator is showing some bullish divergence, market can continue the up. Wait for the market to form higher high higher low formation for any bullish entries. Otherwise, sell on rise will be the strategy for the time being. On 15 minutes chart, the market has closed between both the moving averages (20 and 200 ema). Support :- 16970, 16850 Resistance :- 17190, 17300-20 Wait for the price action near the price levels before entering the markets.
NSE:NIFTY
by Mambotrade
Nifty daily analysis for 17/03/23.Nifty on the daily chart has formed a doji and can give some retracement. The market has clearly tested our support level of 16850 and retraced giving a flat closing. On the hourly charts, the market has consolidated in a ascending triangle pattern and closed near the previous day close. It is taking serious resistance from 20 ema and couldn't sustain above the levels. On smaller time frame, nifty has given a higher high higher low formation. If the market opens gap up there are less chances of a sell as it can give a halt candle. Support :- 16860, 16790 Resistance :- 17050, 17200 Wait for the price action near the levels before entering the markets.
NSE:NIFTY
by Mambotrade
NIfty - Trending expiry or Side ways 16/03/23.Nifty has given a bearish engulfing candle and closed below the crucial level of 17k. The market gave a gap up opening but couldn't sustain the higher levels and finally sank to test the support zone around 17000. On the hourly charts, the market has clearly taken resistance from the 20 ema and 38.2% fib levels. There are higher chances of nifty testing the lower levels as the SGX nifty and Dow jones are trading in red. Look for the global markets were they settle at the end of the day. Market is not getting any support from the levels as it is constantly struggle to find a strong support for reversal. The market is still for the sell on rise. Support :- 16950, 16860, 16790 Resistance :- 17200, 17300 The market has been in the sell mode and tomorrow is weekly expiry. It can make a halt candle as it has already given 5 red candle. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade