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Morning Mantra - 21st June 2023Dear All, Just as we had stated yesterday, similarly almost both of our statements were proven to be absolutely on point yesterday itself. That is, after witnessing a fall in the Market, we did also witness a good recovery in Nifty, thereafter. Well as of now, as per the Day chart setup of Nifty, we can observe the formation of a Hammer pattern. Besides, currently we are once again very near to the level of 18888. Therefore, we are expecting that somehow by this week, Nifty can show us a crossover of above this crucial Resistance level of 18888. Last but not the least, on a special note, since the Market is very near to its New High, we must continue Rebalancing our Portfolio. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 20th June 2023Dear All, Even after making a high of 18881.45 yesterday, Nifty had somehow failed to crossover the level of 18888 that we had stated on the 14th of June, 2023 as well as yesterday. Moreover, as per the Day chart setup, we can now observe the formation of a Dark Cloud Cover, which being a bearish indicator can bring some weakness in the Market as of now. While on the other hand, as per the hourly chart setup, we are quite optimistic about witnessing a bounce back Today. So overall, Today will be a very crucial day for the Market, once again. Besides, one might wonder the reason behind witnessing so many crucial days. Well that’s because we are now very near to the Fresh New High, where it is quite natural to witness a huge volatility at the upper levels. Therefore, as of now, we have to stay cautious and continue rebalancing your portfolio along with following the Cherry picking methodology. Last but not the least, with the support level of 18400 we are quite optimistic for the Market. On the other hand, the level of 18888 remains to be the crucial Resistance level for the Market, as of now. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Nifty daily analysis for 20/06/23.Market on the daily time frame has given a red candle and started trading below the 20 ema on the hourly charts. There was a nice fall after the gap up opening and consolidated in the second half. Nifty closed above 18750 level after testing the levels of 18700. On 15 minutes chart, market is trading between both the moving averages. Market has closed below the support zone of 18770 levels. The markets are creating confusion near the higher levels. Support :- 18680, 18570 Resistance :- 18770, 18890 Market will be trending only when the trend is decided. The market in the second half has given losses to the option buyers due to time decay. Wait for the price action near the price levels before entering the market.
NSE:NIFTY
by Mambotrade
Nifty Important levels for short term. Nifty is continuously making higher high and higher lows since past few weeks, now nifty is very close to all time high. However, we have seen minor profit booking at the top on 19-06-2023. If nifty crosses the all time high, the immediate targets can be 18960, 19000 levels. if nifty is able to cross the buying zone marked in green box on the chart, we may witness further downside. The immediate supports on the downside are marked in green line on the chart. trade only on breakout or breakdown on either side. before that focus on scalping. Follow us for more such information !! Disclaimer: This is just a view for educational purpose, follow your trading setup and research before initiating any trade according to this view.
NSE:NIFTY
by InvestyourAsset
Nifty daily analysis for 16/06/23.Bearish engulfing candle has been formed on the daily charts. It has held the level of 18700 and gave a break down in the final hour. As predicted market gave a nice sell of after holding on the higher levels. There are chances of market testing lower levels further. On hourly charts, the market has again closed between both the moving averages. Support :- 18620-40, 18550-65 Resistance :- 18700, 18740 Market is trading at higher levels and there are resistances in near range. There is BOS and there are chance of market testing 18500 levels. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Morning Mantra - 15th June 2023Dear All, So yesterday was another confused day for the Market. Where on the one hand, the overall sentiments are still positive, while on the other there is a tough fight going on between the bull and the bear. For now, since Today is the crucial Thursday of the crucial week, it will somehow be better to consider today as a “No Trade Day”, and wait for Nifty to make the final decision. Which can be to either give a clear cut breakout as per the Day chart, or to take a Week more to decide its final direction for us. In the meanwhile, keep rebalancing your portfolio here and be stock specific. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
Nifty weekly expiry prediction 15/06/23Nifty on the daily time frame has formed a dragon fly doji and closed near the previous resistance area. Both the index were in different directions. Banknifty closed 100 points lower and nifty closed 40 points higher. In the first hour, after the gap up opening, tested the 18700 levels and after hitting the support area, slowly gained points. On the hourly charts, the market is still trading above the moving averages and is sustaining above it. Support :- 18700, 18630 Resistance :-18770, 18890 Market has consolidated for few days and tomorrow being a weekly expiry can give a nice move either side. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
#Nifty Hourly Latest viewNifty after bottoming out in March end has been in clear uptrend with some minor pullbacks in between. It is currently travelling in a parallel channel with a important support placed around 18190 which in last session acted as channel bottom trendline support as well as was May series avwap level. Nifty bounced by more than 100+ points from that support. In terms of wave marking as far as my understanding goes we may be possibility in (iii) of 5 and above 18360 we may see a momentum towards 18450 to 550 as per fibo projections. From RSI side, yes there is a negative divergence (RSI is making HL) visible which is being talked about but at the same time RSI has not made a LL. Same thing happened during larger wave 4, when Nifty 17850 to 17550 and eventually broke out upside. This probably indicates that buying is emerging from lower levels and dips are being bought. Depending upon How we see opening on Monday, as long as 18190 is safe, #Nifty may continue to move its upward journey. Short term bullish structure / Invalidation level as I feel is only below 18030, or round number as 18K The upside projection can be as marked on the charts as long as price continues to follow the channel and marked important levels. Previous Nifty analysis are linked in related idea section
NSE:NIFTYLong
by aktradelearning
Nifty daily analysis for 14/06/23Market has given a flag and pole pattern on the hourly charts and closed above 18700. On the daily charts, the market has formed a bullish candle. Major resistance level 18770-800 is still there and bullish trades can only be entered only after the level break out and sustain above the levels. In the first hour market give a nice bullish candle and consolidated after it. Support :- 18640, 18550 Resistance :- 18770, 18890 (ATH) The market are still in confusion and there is a possibility of a quick retest and after that market can hit a new ATH. Wait for the price action near the price levels before entering the markets.
NSE:NIFTY
by Mambotrade
Morning Mantra - 13th June 2033Dear All, Once again the week starts with a Doji formation. However, this time, there’s some positivity to it, i.e., we can now observe the formation of a Bullish Harami Cross pattern on the Day chart of Nifty. Which altogether indicates that the Market can show us some further bullish momentum, Today. So, we can very well utilise this optimistic mood of the Market. Yes lately, around the level of 18600, there has been a tough fight going on between the bull and the bear, which somehow was quite natural and expected. But for today, we are quite positive on the Market. So, Keep Trading, Keep Investing and keep Rebalancing your Portfolio at the current levels. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya