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Niftyoutlook

Morning Mantra - 23rd June 2023Dear All, So, Yesterday was a perfect Roller Coaster Day for every Trader. Where the Market wasn’t so good and stable for the players. Besides, we did also see a lot of profit booking across the different sectors. Well as of now, we can observe the formation of an Evening star Doji on the Day chart of Nifty, which itself is indicating that we can observe another day in the Grip of the Bears. So, we need to remain cautious, for now. However, we are still with our words that the overall Market sentiments is still positive. But, somehow the Index is facing a lot of difficulty in crossing over above this crucial Resistance level of 18888. So, as of now, Portfolio Rebalancing is the only way to keep yourself prepared against any negative circumstances in the Market. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
Morning Mantra - 22nd June 2023Dear All, Yes it was a wonderful day yesterday. Yet it was somehow a confused one, as we can also observe the formation of a Doji pattern at this upper level. Indeed we are very close to the level of 18888, and we are also observing the strength of this Crucial Resistance level, as Nifty is facing a lot of difficulty in crossing over above it. Where, once after Nifty successfully manages to cross over this level, then we can also witness the level of 19200, in the coming time. Furthermore, these 2 trading days (i.e., Thursday & Friday ) will somehow be very crucial for the Market. Besides, today is day of weekly settlement. So, in such a situation, “cautiousness” is the right word for the Market, as of now. While on the other hand, a beautiful rally from many of the mid-cap stocks is indicating a mixed reaction of the Market and a perfect fight situation between the bull and the bear. So here, Portfolio Rebalancing is an appropriate strategy to be followed. Also, be stock specific and keep following the Cherry Picking strategy, as of now. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Nifty analysis for weekly expiry 22/06/23.Again the market has given a both side move. After a gap up opening market has given a fall in the first half and regain in the second half. On the daily time frame, the market has formed dragon fly doji. Previous data also shows the market has been giving gap ups while doing upward. There are chance of market following the previous data. On the hourly charts, market couldn't clear the 18865 levels and closed near the resistance zone. A cup and handle pattern formation is there, on hourly charts, and its break out can give nice market. On 15 minutes, 20 EMA is respected and market has given bounce after testing it. Support :- 18800, 18740 Resistance :- 18890 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
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