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Niftyoutlook

Nifty daily analysis for 30/06/23.Nifty, finally, tested the 19k levels but couldn't sustain above it. After the gap up opening above 18900 it travelled and touched the higher levels. The index was strong as compare to the other indices and closed near the higher levels. On the hourly charts, there is a flag and pole pattern. As market consolidated in the second half of the trading session. Market in the last two sessions has given a move of around 300 points. And market while moving upward has constantly giving gap up and momentum. Support :- 18890, 18800 Resistance :- 19000 Nifty has also formed a new ATH and touched the round figure level. Market has given a nice bullish move and might take a halt near the higher levels. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
Possible Elliott wave counts on hourly time frame of NiftyHello Friends Here we had shared possible Elliott wave counts on hourly chart of NIFTY, in which we can clearly see that currently we are in impulse structure and as per counts we can say that after bottom of June 2022, we have started fresh impulse up move, in which we had completed wave (1) and (2) and now possibly we are in wave (3), which can be at least equality with wave (1) so estimated target may be 19748 where 5 of (3) may finish, currently we are in 3 of (3) and inside 3, we are in (v) of 3 of (3). I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing. I am not responsible for any kinds of your profits and your losses. Some significant snapshots are shared below, please go throughout. Thanks RK💕 Overall wave structure since bottom of June 2022 Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer and Risk Warning. The analysis and discussion provided on in.tradingview.com is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.
NSE:NIFTYLong
by RK_Chaarts
5
Morning Mantra - 28th June 2023Dear All, So yesterday, we saw the impact of a Doji pattern, along with the previous candle, altogether called as the Cross harami pattern formation. Where after a weak opening yesterday, Nifty made a beautiful rise in the second half. Now, we are once again very close to our Fresh New High in Nifty. As we are now at 18817, so above 18888, we can see a further upside in the Market. With this, I hope that we can celebrate this festival vibe with Nifty’s New High. So, on this positive note, stay stock specific and keep Rebalancing your Portfolio, as of now. Keep Trading! Keep Investing! Regards , Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 27th June 2023Dear All, Just as we had stated yesterday itself, about receiving a signal from Nifty, via the formation of a Dark Cloud Cover on its weekly chart. Likewise, we did observe a selling pressure in the Market till the second half. Although in the later half, we did also witness some recovery in Nifty. Consequently, we can now observe the formation of a Cross Doji pattern on the Day chart of Nifty. Which is somehow indicating the probability of witnessing a reversal Today. Indeed we can once again become optimistic regarding this Reversal, as it might take Nifty to its new high . However, as stated yesterday as well, this week will somehow be very crucial for the Market, as we have only 3 more trading days to go in this week. Last but not the least, with the stop loss of 18400 on closing basis, we are still bullish on Nifty. Where in the meanwhile, be stock specific and keep Rebalancing the Portfolio. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 16th June 2023Dear All, Just as we had stated yesterday about considering the Day as a “No Trade Day” , Likewise we did also witness a lot of volatility in the Market yesterday . Wherein, a major supply pressure was witnessed in the Banking Sector. Therefore overall, a tough fight between the bull and the bear, is being observed here at the upper levels. A positive buying number from FII on the one hand, and on the other hand, the supply pressure that is being observed in the Market is somehow indicating that the Market Players are Rebalancing their Portfolio here. So, be cautious and keep rebalancing your portfolio at the current levels. Last but not the least, the Market Sentiments are still positive for a New High, with the stop loss of 18400. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 14th June 2023Dear All, So, we did see the magical impact of Bullish Harami Cross Doji in Yesterday’s Market, as Nifty had successfully made a high of 18728.90 yesterday with a positive green candle on day chart. Well, now it seems that we are very near to witnessing a new high in Nifty.  Wherein, the last week and the previous 2 days of this trading week, are somehow indicating that the overall sentiments of the Market is positive , but Nifty is still in an indecisive mode, as there’s a fight going on between the bull and the bear. So in such a situation, if Nifty crosses over and gives a closing of above 18888 on monthly basis, then yes it will be a beautiful scenario for the bulls. But, as of now we need to be a little cautious at the upper levels, as we are expecting to witness a little supply pressure here. Overall, this week will altogether be very crucial for the Market. Last but not the least, keep Rebalancing your Portfolio, Keep Trading and Keep Investing. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 12th June 2023Dear All, Once again our Morning Mantra update was proven to be absolutely on point on the last Friday. Wherein, as stated a significant Bearish Engulfing pattern on the chart of Nifty on Thursday, had clearly shown the expected fall in the Market on Friday itself. So, as per the current situation we can see a beautiful shooting star pattern on the chart of Nifty. Yes, “ Beautiful ” for the Bears, as after Nov-Dec 2022, we can once again observe a supply pressure around this level of 18800 approx. Furthermore, it can be observed that Nifty is facing a lot of difficulty to make a New High. But still we are positive on the Market for witnessing a New High, until the time the index is trading above the level of 18400. Besides, in the meanwhile, it is a good time for Portfolio Rebalancing. As whenever we face such kind of Resistance on the upper levels, we must look into our Portfolio and work upon it as per our Personal Financial Advisor. Keep Trading! Keep Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
Morning Mantra - 9th June 2023Dear All, Just as we had cautioned you, about the probability of witnessing a supply pressure here at the upper levels. Similarly, we can now observe the formation of a Bearish Engulfing pattern on the Day chart of Nifty, which is indeed not a good sign for the bulls as of now. However, since for the entire week the Market has been in an indecisive mode, therefore, for the last day of this trading week, we will suggest you to be cautious and to wait for the clear cut indication from the Market. Besides, we are still positively hopeful for witnessing a New High in Nifty, with 18400 as an immediate support level. Furthermore, in the meanwhile, continue following the Cherry picking strategy and keep rebalancing your Portfolio, as it will be a very good idea to do so, as of now. Keep Trading! Keep Investing! Keep Following Us! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
1
Morning Mantra - 6th June 2023Dear All, So, once again we can observe the formation of a Cross Doji pattern on the chart of Nifty. Therefore, it’s time to be a little cautious now, because such kind of a consolidation will create a sudden rise or a sudden fall, in the form of a Breakout or Breakdown. Besides, we hope that our Morning Mantra updates have been helping you, specially in the regards of Portfolio Rebalancing, as we have been stating it since the last week. Yes we are still with our words, that if Nifty makes a positive breakout, then it can surely achieve its Target of a New high , as even the Market Sentiments are positive. But the Index is trading in a very narrow range of 18400-18600 as of now, where we either need a breakout or a breakdown from here. Furthermore, for now, it will be better to avoid exposure trading in such a market condition. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
1
Morning Mantra - 2nd June 2023Dear All, Just as we had been expecting, about Nifty taking a pull back towards the level of its previous gap up opening. Similarly, it can be observed that Nifty has finally reached around the particular level of 18480. Now with the stop loss of 18400 on immediate basis and 18200 for the mid-term, we are still bullish on Nifty, for the Target of New high. Moreover, with this expected pull back, it is altogether a good time for Cherry Picking and Portfolio Rebalancing. Besides, on the basis of weekly chart of Nifty, we have to be very cautious against the Market volatility, Today. As it will somehow be better to be patient and wait for today’s closing. Where if Nifty gives a stable closing of above 18400, then we can expect a bounce back from this level, in the upcoming week. Otherwise, we have to become ready with the new strategy. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
Morning Mantra - 1st June 2023Dear All, Just as we had stated in our Morning Mantra yesterday about witnessing a pull back from the level of 18600. Likewise the same was observed yesterday itself, as Nifty had made a low 18,483.85 We can say that yesterday, Nifty had somehow tried to fill up the gap that was created as a result of its gap up opening, the other day. Moreover, for now, with the stop loss of 18400-18200, we are still bullish on Nifty for witnessing a new high in the upcoming days. Besides, this kind of pull back should be considered as an opportunity for Cherry picking and for rebalancing of the Portfolio, until the time Nifty triggers its new high. Furthermore, since Today is the day of weekly settlement so be a little cautious. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
Morning Mantra - 29th May 2023Dear All, It was indeed a wonderful week for Nifty, as finally we had witnessed a beautiful recovery on a weekly basis. Wherein, Nifty had successfully crossed the level of 18400 and had given us a beautiful weekly closing of 18500 approx. So yes, somehow our predictions are becoming true, that above 18200 we are now ready for a new high in Nifty, with the stop loss of 17800. Furthermore, as Nifty is now trading above 18400, so we can shift our stop loss from 17800 to 18200 on immediate basis. Besides, now that we are in the last week of May, we can also observe the effectiveness of the Morning Star Doji formation, which was witnessed on the monthly chart of Nifty, in the last month. Altogether, with fingers crossed for a further positive momentum in the Market, keep rebalancing your portfolio along with keep following the Cherry-picking strategy . Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 26th May 2023Dear All, Once again we had seen the significance of 18200 as the level of support for the Market, yesterday. Where after making a low of 18202.40, the index ultimately made a good recovery and gave a closing of 18321.15 After 2 back to back Doji formations at the upper levels, we can now observe the formation of a Hammer pattern on the Day chart of Nifty. Which altogether is quite a good sign for the Market as it indicates that Today can be a good day for the bulls. Yes, we are still in between the levels of 18400 and 18200, which indicates that the Market is somehow creating a platform for the upcoming rally . So, overall on a medium-term, 17800 will become a very important support level for the Market. Furthermore, we are still bullish on Nifty for a new high in the upcoming days, till the time the index is trading above this level of 17800 on weekly basis. In the meanwhile, keep rebalancing your portfolio and keep following the Cherry Picking Strategy, for now. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 24th May 2023Dear All, Just as we had stated yesterday, about witnessing the formation of a Morning Star Doji, consequently we did also observe a gap up opening in Nifty, along with a positive momentum in the Market. However, unfortunately Nifty was somehow unable to crossover the high of the past 4-5 days. Besides, we can now observe the formation of a Doji pattern on the upper levels of Nifty, which altogether is indicating a reversal from here. In the meanwhile, the level of 18200 will continue to play a very crucial role, as of now. Above which, we are indeed ready to witness a new high in the upcoming days. Whereas, on the lower side, the level of 17800 will be the crucial support for Nifty. Furthermore, since Nifty is currently trading in a narrow range of 18450 to 18200 , so an either side breakout or breakdown is quite important here, for the Market Participants. Until then, Portfolio Rebalancing will be a good idea. Besides, following the Cherry Picking strategy will be like a Cherry on the Cake. Happy Trading! Happy Investing! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
1
Morning Mantra - 23rd May 2023Dear All, Just as we had stated in our Morning Mantra update yesterday , regarding the probability of witnessing a reversal from 18200 . Likewise, the same was observed yesterday itself, as taking a beautiful support at 18200, Nifty had showed us a beautiful recovery. Well, after observing the formation of a Long-Legged Doji, we can now observe the formation of a Morning Star Doji pattern on the Day chart of Nifty - which is altogether a good sign for the Market. Furthermore, we are expecting that above 18200 , the market can perform well in the upcoming month of June . So, with the support level of 17800 on weekly basis, get ready for a new high in the upcoming days. Until then, can follow the Cherry Picking strategy. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 22nd May 2023Dear All, Just as we had stated in our previous Morning Mantra update, about the struggle of Nifty at around the crucial level of 18200, similarly, we did also witness a closing of just around the stated level, i.e., at 18203.40 However, as of now, observing the pattern of a Long Legged Doji on the Day chart of Nifty, somehow indicates the probability of a reversal from here. So, once again with the stop loss of 17800, if Nifty manages to stably sustain above this crucial level of 18200, then we can expect to witness a new high in the upcoming days. Otherwise, we will have to go with another suitable strategy. In the Meanwhile, keep rebalancing your portfolio. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 15th May 2023Dear All, So, Finally we had witnessed a weekly closing of above 18200 in the last week, as Nifty made a closing of 18314.80 This altogether is quite a positive sign for the Market on technical parameters. As of now, we are quite positive on the Market regarding witnessing a new high in Nifty in the coming days. So, with the stop loss of 17800, we are with our words to keep Rebalancing your Portfolio and to keep following the Cherry picking strategy for now. Happy Investing! Happy Trading! Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 11th May 2023Dear All, So, fortunately yesterday we got to witness another day of positive closing of above 18200. However the day ended on flat note as Nifty gave a closing (18315.10) of just near to its opening figure of 18313.60 Now observing the formation of a Doji pattern on the chart of Nifty, and also considering the fact that today is the day of weekly settlement, it will somehow be better to not be very aggressive today and to remain cautious at the same time. Furthermore, keeping in mind, that along with witnessing a positive closing on day basis, we also need to witness a positive weekly closing of above 18200. After which we are very positive for a new high in Nifty with the stop loss of 17800 in the coming days. Therefore, until then keep reaping the benefits out of this uprise and keep Rebalancing your Portfolio. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTY
by alokdaiya
Morning Mantra - 31st May 2023Dear All, So once again yesterday, Nifty was trading in a range bound, where we had somehow witnessed a fight between a bull and a bear at the upper levels. Fortunately, the Index gave us a beautiful closing of above 18600, which is indeed a good sign for the Market, as of now. Moreover, until the time Nifty is trading above this level of 18600, the sentiments are still positive for witnessing a New high in the upcoming days. However, if in case Nifty breaks this level of 18600, then do not worry but wait for the level of at least 18400-18200 as the pull back zone in Nifty, as of now. Furthermore, the idea of Rebalancing the Portfolio and Cherry Picking will remain to be a good idea, until Nifty triggers its new high. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
PostMortem on Nifty50 Today & Analysis of 27 JUN 2023Nifty opened right at the resistance zone of 18762 and then had a flattish pattern. Again the gap up would be due to front running by few players. Instead of falling to the previous close level - N50 held its ground and was aiming for resistance level breakout. The price action was not as dramatic as BN or Finnifty as the resistance breach came in very late in the day i.e. at 14.10. Once it broke out from this strong hold, it rallied another 68pts within 1hr. Today's price move has shifted the bias to +ve and it may also have enough firepower to take out the ATH by tomorrow. RELIANCE, ITC & other FMCG stocks did not participate in the rally today - so it seems like tomorrow is going to be an interesting bull side day. 1hr TF In yesterday's research report I had indicated N50 showing a bearish bias. Mainly because we had a support breach after what it looked like a M pattern aka double top. We have not completely negated that pattern, but the intensity with which N50 broke through the resistance - I will have to change my view. Technically N50 could push through the ATH by tomorrow as there is nothing resisting its way!
NSE:NIFTY
by viswaram
PostMortem on Nifty50 Today & Analysis of 26 JUN 2023N50 also had very little movement today to fire up the options premium. We even have a 10000 PE for the current week expiry. i.e a strike which is 47% below the spot price. Even a nuclear war will not take us there by Thursday. N50 also maintained the ground today, not falling below the 18650 level ensuring the swing low of 23rd is not broken. When we ended the last session - the sentiment was looking weak. I almost thought we will break the support level today - such was the CE shorting intensity on last Friday. Since we had no continuation of carried forward momentum - I am assuming that most of the positional traders would have booked profits & exited the short CE trades. 1hr TF N50 has formed a rounded double top M like pattern near the ATH zone. The fall from 22nd got some follow through on 23rd but today's move was not supporting. For the M pattern to work perfectly we would require a break down from the support level of 18597.
NSE:NIFTY
by viswaram