NIFTY outlook keep watch and wait for short pull back then enter the trade
Nifty previous week make strong Bear keep watch the previous Support level if break 11502 and 11350
With a good 1000 points bull run, NIFTY needs consolidation before beginning a fresh run If NIFTY closes below 11570, book your portfolios 11350 would be first level to watch out for re-entering longs
Index has a minor support at 10770 levels and strong support for the day at 10750 levels where mid term moving average is lying. Index has a resistance at 10880 levels for the day of 18 Jun 2018. . Message me for depth analysis.
Nifty has a strong support at 10550 levels where mid term Moving Average and Fibonacci levels are lying and strong resistance at 10930 levels where peak of May 2018 is lying. If Index manages to break these levels on either side than we can see 10300 levels on down side and 11200 on upside. . Message me for in depth report.
Long above the green line for a minimum 5% upmove in nifty which is 500+ points. Short below the red line for a 5% downmove.
1) NIFTY on day chart has been trading withing a symmetric triangle since early Feb 2) Trading below 89 DEMA and 144 DEMA and SuperTrend giving a sell signal. We can ignore this sell signal as long as Nifty trades above 10170 on weekly close basis. In a trending market lagging indicators tend to give false signals upon a pull back/correction. 3) A break above...
On Monthly chart, as of now, Bearish Engulfing pattern can be seen, however the same will be confirmed at month end , if it see a close below 10404. ( Wait for it ). On Weekly Chart: There is a Bearish Enfulfing Pattern, followed by a gap down , the gap has not filled yet. The Same Gap may serve as Possible resistance - 10702-10736 . Since then weekly...
Based on ichimoku: Nifty Support @10506 If hold above 10618, immediate target - 10724 within 1 - 2 trading session.
Double Top and Bearish Engulfing candlestick pattern formed on Nifty. It is a signal for bear to takeover the nifty from bull. Fall will start from 10440 to 10396 / 10330 and possible to reach 10240. "Happy Trading"
In today's session a follow -up bearish candle has formed, which was quite expected on seeing strong Bearish engulfing in yesterday's session. If you look at candles, you could find that the today's momentum was bit less than the previous session, which suggests keeping near near term resistance levels in check, so that the further move can be tapped on the right...
Bullish on NIFTY! Journey Towards 10,000+ is eminent!
The UPTREND is Still Intact! 9800 to 9780 Major Short Term Support!!
A quick overview at how the Nifty is shaping up into the period going forward having witnessed a good correction of just under 3% from the recent highs it has just made. Chart speaks for itself!