Daily Charts (Medium to Long Term)
RSI is still below 50
Candles are still below the 20 day moving average and the trenline
Heikin Ashi is giving us some good signals as yesterday was a confirmation candle which indicates that the correction might just be over
Market has been range bound between 14280 levels and 15350 levels since 11th Jan 21 so we cannot have an...
NIFTY Predictions for 24 March 2021
Resistance R1 14971 / R2 14893
Support S1 14722 / S2 14630
Disclaimer: I'm not a Financial Advisor this is for educational purposes only, Before investing or trading please consult your financial adviser.
Nifty 50
Daily Charts (Long to Medium Term)
RSI is below 50 levels and it clearly gives us a bearish signal.
Nifty is taking a turn after breaking 2 trendlines which means that the markets may go either way.
I couldn't get proper reading using candlesticks so I shifted to Heikin Ashi. The green candle which means that we may see a bull rally soon has been formed....
Nifty 50
CMP 14604
Daily Chart (Medium to Long Term)
The black line is called the simple trendline. I did not use the parallel trendlines as we already know that the markets are either at the lower support line or below it.
The current scenario is that we have broken the trendline in the lower level but this doesn't mean that the trend has been changed. It means...
HELLO FRIENDS,
HERE IS NIFTY BUY SET UP FOR LONG IN NIFTY AND BUY AT 14888 WITH STOPLOSS OF 14744 FOR THE TGT OF 15525 IN COMING DAYS .
HAPPY TRADING FRIENDS,
Nifty 50
Hourly Chart (Medium to Short term)
We are very close to a very important support level of 14667. Tomorrow will be a crucial decider whether the downtrend will be broken or are we going towards 14200 levels.
I am not being able to understand any patterns or trends in the current scenario and hence I will maintain my simple call of No Trade.
If you are...
Daily Chart (Medium to Long Term)
The trend remains positive but it's just a notch away from breaking the trendline. 14745 is a crutial support if Nifty 50 decides to correct itself.
The candle has closed below 20 VWMA and it needs to fight its way back up and above these levels.
RSI here has taken support at the 50 levels and has tried to make a reversal. Let's...
Nifty Future
Daily Chart (Overall long-term)
I've 2 trendlines (blue). The first one is cut-off and the second one is the trendline that we are following now. Daily candles are taking support here and we can see a very strong upmove if anything funny doesn't happen.
The black dots are Parabolic SARS. Parabolic SARS is an indicator which if down signals buying...
Clearly an uptrend and a gap-up opening will pull RSI above 50 to confirm a bullish trend. I've been saying that it won't be surprising to see Nifty hit new highs.
Please note that this is not a trading level. It's already high to buy and risky to sell so No Trade today
NIFTY 50
Daily charts show a clear uptrend. I would like to think that the correction is over now, or is it? RSI supports me here. If you look at the RSI, you'll see that the downtrend seems to have stopped here, just above the 50 levels and a slight, very slight up-move has been made as well.
Hourly charts look messy. The trendline has been respected but there...
Not sure but did Nifty Futures make a double bottom in 15m charts?
I think we can enter with a stop loss of below 14900 for targets of 15100 / 15150 / 15200
CMP 15008
Nifty Futures
Intraday, 15m charts are quite surely overbought. Check RSI as it is above 80 which means a quick correction may be on its way. No, this doesn't mean that you can go short unless you are just too good a trader. What this means is that we need to wait for the right levels to re-enter in long positions.
Daily charts, as expected don't speak the same...
First things first, Nifty is on an uptrend on the daily charts.
As discussed yesterday, Nifty took support on the trend line and bounced back from there. This was a good sign but what needs attention is that the candles have not crossed the decider (middle line) on the upside. We can let our guards down a little once this is done but till then, we have to be...
Good Morning
Nifty (spot) gives us a gap up opening at 14865 levels as expected. My first target was 14900 in futures which can be considered achieved.
If the world markets support, we can see Nifty making new highs again in March itself.
New support has been made at 14635 levels so there should be nothing to worry about till Nifty breaks and sticks around...
Nifty Spot
There was a Hammer (bullish pattern) in the 15m chart on 26/02/21 at 15:15 hrs.
14635 levels were from where Nifty had to bounce back but it slipped below it and closed at 14529. Nifty had made a high of 14498 on 11/01/21 which can be considered as a strong support now.
RSI has slipped well below 50.
It also shows a bounceback from the trendline levels...
Hi Traders,
In this screenshot, You can see how to see the change in trend in an easy and simple way along with next week's plan for trading in nifty. For detail see the complete explanation in the video link given in the below box.
Yogesh Vats
Running correction as expected yesterday. What next? Strategy remains the same, 'buy on dips'
Support can be found at 15000 and target can be around 15500.
Let me remind you that today is an expiry so I'd wait for the second half before taking a trade in Nifty.
Daily charts show that Nifty has taken support on 5 MA and have bounced back from there. We have to...
