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Nifty FuturesNifty Futures LTP: 14549.30 Support: 14502.30 Resistance: 14684.10 Daily charts (long term) ------------------------ The charts clearly don't look good; 20 DEMA and 50 DEMA are struggling RSI has slipped and is trading below 50 mark But on the other hand, I feel that this is a flag pattern which is a bullish sign ***No Trade! Too confusing. Hourly charts (medium term) --------------------------- We do see a reversal before the EOD yesterday. This reversal does give us a little hope. The trend is not decisive but RSI does hint a double bottom. This is a bullish pattern but there is nothing decisive yet. There is not much data to study at this point so again, No Trade! 15m charts (short term) ----------------------- The chart is in a downtrend but it is not prominent. It does seem that a double bottom is being formed here as well but there is nothing conclusive. ***No trade!
NSE:NIFTY1!Long
by virralthakkaar
Nifty FuturesNifty Futures LTP: 14897.10 Support: 14703.90 Resistance: 14943.90 Daily charts (long term) My concern remains the same which is the gap between the 20 DEMA and the candles. 14649.13 is where the 20 DEMA is trading and the candles should hold on to these levels. Breaking these levels and trading below is a sign of weakness. We will have to watch if we hang around below or do we pull back after we open for the day. MACD shows a reversal and RSI is strong above the 50 mark. ***Every dip is a buying opportunity. Hourly charts (medium charts) The charts did break the downtrend but we couldn't keep up the upmove and we had a red candle to end the day. It is never a good sign to close on a negative note and as we see, SGX nifty is going to give us a gap down opening. DEMA is aligned well and the gaps are decent as well. MACD shows a reversal and RSI is strong above the 50 mark. ***Every dip is a buying opportunity. 15m charts (short term) Now, 15m chart candles might open way below the 20 DEMA. MACD has closed at a dangerously weak note. RSI is very close to the 50 mark so I am sure it will fall as we open. Will it fight back? ***Not clear but comparing the daily and hourly charts, buy on dips is what I will stick to.
NSE:NIFTY1!Long
by virralthakkaar
Nifty FuturesNifty Futures LTP: 14855.30 Support: 14683.75 Resistance: 14881.85 Daily charts (long term) There was a doji on the 23rd of April which is a pattern that suggests a reversal and Nifty futures have been in in uptrend since then. The candle today has broken a downtrend since 12th March. 20 DEMA is at 14623.03 which will be our first support level. MACD is in the bear zone but there is a slight reversal. We will consider this as neutral. RSI has crossed above the 50 mark. ***The only factor that concerns me is the gap between the 20 DEMA and the LTP which is of around 225 points. The trend is clearly bullish. Hourly charts (medium term) There is a strong resistance at 14881.85. Nifty futures resisted at these levels on the 3rd of Feb and has been taking support and resisting it since then. The timeline shows the strength at these levels. MACD is bullish and strong. RSI is in the overbought range which means that we may see a running correction. ***We will wait for the right entry point to go long. 15m charts (short term) 14821.29 is the 20 DEMA for this period which is quite close to the current trading prices. The volumes are in red. MACD is in the bullish range but is in a bearish reversal. RSI is in a correction mode. It is correcting itself from the overbought range. ***Consideration and comparing the hourly and 15m charts, we will wait for a running correction and right signals to enter. 29th being a Thursday can see a sharp up move when short covering comes in play but this doesn't mean that the nifty is in an uptrend.
NSE:NIFTY1!Long
by virralthakkaar
Nifty FuturesNifty Futures LTP: 16338.60 Support: 14155 Resistance: 14471 / 14477 Daily charts (long term) There are multiple but unclear patterns being formed like a bearish pattern called the double top. A small correction followed it forming a new bullish pattern called the falling wedge. The daily candle of 23rd April is a doji which can mean that the falling wedge pattern is being complete and we may see a breakout in the Nifty futures. The candles have respected the 100 DEMA which is a good sign. There are a couple of prominent green candles which again is a bull signal. MACD doesn't give us an assurance as such. It is clearly in the bear zone with a bearish pattern. RSI too is in a downtrend. ***I am skeptical due to the pandemic. The markets might react if a new lockdown is imposed or cases rise or to any negative news that we all are already expecting. Hourly charts (medium term) My doubts are confirmed by studying this chart. The first look of the chart is very bearish. The DEMA is reversed. It should be in a pattern of 5, 10, 20, 50 and 100 but the hourly chart has reversed pattern which is a bearish signal. We can see a struggle in MACD as well. It did form a bullish pattern for a while but has slipped to a neutral zone before EOD. RSI, on the other hand is trying for a reversal but has resisted the 50 mark again and again and there is an unclear triple top pattern which is a bear sign. The support and resistence in comparision to LTP give us a bad risk to reward ratio. Also, Nifty futures have made a double top pattern at the resistance of 14417.55 levels which indicates that we should only enter once this levels is broken and sustained. *** I would expect a small correction and wait for a buy signal somewhere in the chart before making long positions. 15m charts (short term) Again, DEMA are reversed which is not a good sign. but MACD is giving us sign of strength and RSI is neutral at this point. *** There is not much to think. We will wait for a strong bull sign to enter long!
NSE:NIFTY1!Long
by virralthakkaar
Nifty FuturesLet's understand the daily charts of Nifty Futures. We study daily charts to understand the long term nature of the stock. Candles have taken support at 100 DEMA. The value of 100 DEMA is 14191. MACD has the blue line below the orange one which is a bearish sign and to add on, it is trading below the zero zone with is bearish as well. RSI has resisted 50 mark as well. Bearish indicator again. Overall, nifty futures look quite weak at this point. Now, lets take a look at hourly chart of nifty futures. The hourly charts help us understand the medium term view. Clearly weak as the DEMA are falling. They are aligned in a complete bear pattern at this point of time. MACD again is in the bear zone with a bearish formation. RSI is below 50 mark but divergence indicator does have a bull signal. We will keep this in mind but we will not act on it immediately. Overall, even the hourly charts show weakness. 15m charts help us understand the short term or intraday views. There is a bull candle called the Marubozu White but there is no strong confirmation candle following. Again, we will keep this in mind but won't act on it as any pattern is incomplete without a follow up. MACD is in the bear zone but the red volume bars are fading so we will wait and watch till we get a confirmed trend indication. We will consider this as neutral at this level. RSI is clearly showing weakness as it is trading below the 50 mark and very close to 30 levels. We will wait for the markets to open and stabilize before we enter trades. Traders can go long when the levels feel perfect as RSI, if slipped below 20 will mean that nifty futures are overbought. We can take a risk as today is the expiry and the short positions needs to be covered so we can see a pull back.
NSE:NIFTY1!Long
by virralthakkaar
Nifty FuturesNifty Futures LTP 14384 Support 14213 Resistance 14520 levels & 14660 levels Hourly chart (short to medium term) Divergence Indicator has given a bull signal RSI has bounced back from the 30 mark which is a good sign 3 Green candles may indicate that the strength is returning MACD, though in the bear zone, we can see the red bars fading away 15m charts (intraday) 5, 10 and 20 DEMA organizing themselves MACD in the bear zone but with a bullish reversal RSI has almost broken the 50 mark Final overview: Buy nifty for targets of 14500 & 14600 with SL of around 14200.
NSE:NIFTY1!Long
by virralthakkaar
Nifty 50Nifty 50 LTP 14359.45 Support @ 14250 Resistance @ 14650 Weekly charts (long term) The candles have take support at 20 DEMA which is a good news. Regardless of the poor opening today, we have a green candle after 2 weeks. MACD is the the bull zone but does show a reversal. We will consider this as neutral. RSI is moving downwards but is again above the 50 mark. We will consider this as neutral as well. 5 DEMA and 10 DEMA has formed a cluster which I hope will change soon. We will consider is as a weakness. Final view: Can go long here or wait for a minor dip. Daily charts (medium to long term) Just as above, regardless the weak opening, Nifty 50 managed to make a green candle today. Considering this, it does look like Nifty 50 will show a strong recovery. Another important aspect is that the candle has taken support on the 100 DEMA but MACD has fallen in the bear zone which is not a good signal. RSI too has resisted the 50 mark. Final View: Investors can go long and traders should wait and see the new trend and trade accordingly. Hourly charts (short to medium term) The most positive thing in the entire study is that we have a bull sign in the Divergence Indicator. RSI has taken support on the 30 mark which is another good sign. MACD is in the bear zone but if you see, the red candles are fading. We may soon see MACD fighting its way back up in the bull zone if this trend continues. There is a green candle followed by a confirmation green candle followed by a third green candle which is good again. What bothers me here is that the candles are resisting the 5 DEMA. Final view: Investors can go long but traders need to wait and understand the trend as it is quite confusing right now. 15m charts (intraday) The first thing that I've noticed is that RSI has resisted the 50 mark which is no a good sign. MACD on the other hand is showing strength but again, it is lingering in the bear zone. 5 DEMA and 10 DEMA are crossing their ways which is again a sign of strength but the trend is not clear yet as there is a cluster. The chart has a clear uptrend which is a good sign. Final view: Risk taking traders can go long here but I would advise that the ones who want to be safe should wait till the trend is clear. Overview: Nifty 50 is clearly showing strength but the current trend is not clear. If asked, I would advice to go long.
NSE:NIFTYLong
by virralthakkaar
2
Nifty FuturesNifty Futures Weekly (Long Term) DEMA (20, 50, 100) Aligned to perfection. Candle took support at 20 DEMA and bounced back which shows strength. Volume shows selling which indicates that we may see short covering soon. MACD did give us profit booking signals but is still in the bullish zone. RSI has a recent downtrend but it isn't sharp and scary. We might see a strong recover. Daily (Medium to Long Term) The DEMA is aligned as well but there is a slight weakness in the 20 DEMA. Candles have taken support near 100 DEMA which is a good sign and we can expect a recovery. Weekly charts did indicate that we might see some buying which we do see in the Daily Charts. MACD is weak but neutral. RSI is in the bearish zone but there is a reversal. Hourly (Short to Medium Term + Support and Resistance levels) Support: 14350 & 14290 Resistance: 14750 & 14850 A strong bullish pattern, cup and handle has been made. Immediate support at 14500. Volumes show buying on the graph. MACD is showing a reversal in the bearish zone. RSI is strongly moving towards the bull zone. 15m (Intraday + Immediate Trend Check) Trend: Not clear DEMA is aligned well (5, 10, 20) which is a good sign. Buying on the volume graph. MACD showing a strong bullish move. RSI, bullish but heading towards the overbought zone but this may change. So, do I see 15000 back on charts? Yes!
NSE:NIFTY1!Long
by virralthakkaar
Nifty Futures15m chart with ema of different values. The red line is a 20 day ema, blue is 10 day ema and the purple is a 5 day ema. These values work well with intraday charts. If you see here, the 10 day ema is crossing the 20 day ema which is a bullish sign. The pattern should be in order of 5 dema, 10 dema and 15 dema. So, how do you trade after understanding the entire study? You need to have sufficient balance and buy small qty of next week expiry of nifty and hold for a target of 14550 & 14625. I keep repeating that you need to be very patient and trade in the stock market like you trade in your business. Buy and hold for targets like we do in business.
NSE:NIFTY1!Long
by virralthakkaar
NIFTY 15 MINS WAVE COUNTSHi friends, Nifty as per my previous analysis and follow up updates() failed to cross the #keyresistance and hence ended with #fakeout(failed breakout). So as I expected further down swing or one more down swing...which did unfold decisively today. what next..? VIEW: Expect to bottom out in the zone as shown in the chart. Structure/Pattern: impulse + double zigzag(irregular wave B) + impulse Keynote for traders: As I have been mentioning in my previous posts ;till key invalidation point is not breached I stay bullish in slightly bigger picture. >>till major resistance is not taken out...all trades to be taken on the negative side in intraday. Positional traders should wait for "KEY RESISTANCE" breakout to "plan their entry" or they may take a bet as nifty approaches "key invalidation point for better risk/reward ratio. Trading Plan: #As there is pandemic fear one can hedge their long position in nifty if one wants to take a long bet near support zone(greenzone).DM me for any help with this regard. #Look for confirmation near that support zone using one's own method(indicators/price action/moving average) and then go for long position #Don't bet more than 2% of one capital for total risk in the trade. #Disclaimer: Above analysis can be referred to as educative in nature. One has to take decision as to trade as per his own risk. Good Luck guys...keep trading...keep rocking 💥💥💥
NSE:NIFTYLong
by ravaye27
Nifty 50Weekly chart of Nifty50. The uptrend is clear and the support according to the weekly charts is 14470 levels. So we're already there. I am going to vote for No Trade today even though I really want to buy but the Covid scenes are bad as of now. Daily and Hourly chart study The major support is at 14264.40. This means 14250 levels. There is no proper support before that. If Nifty50 manages to break 14250 (which it should not) we might witness 13800. * I don't think that we'll be breaking 14250 but you never know.
NSE:NIFTY
by virralthakkaar
Nifty 50Script - Nifty 50 CMP - 14683.50 Resistance - 14780 Daily Charts Current pattern (if any) - Looks like a symetrical triangle which is a bullish pattern Candlestick Trend / Pattern - NA DMA - Neutral MACD - Neutral / Bearish RSI - Neutral Divergence - NA Hourly Charts Current pattern (if any) - A small rounded bottom bull pattern Candlestick Trend / Pattern - NA DMA - Neutral / Bearish MACD - Neutral RSI - Rounded bottom / bullish Divergence - Undecided bear Intraday Charts Current pattern (if any) - Clear symetrical triangle Candlestick Trend / Pattern - NA DMA - Neutral / Bullish MACD - Neutral RSI - Neutral / Bullish Divergence - NA Final View - No Trade till we see a trend being made in 15m charts. Can expect a breakout above 14780
NSE:NIFTY
by virralthakkaar