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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 TheMamboMomentum
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 TheMamboMomentum
#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 TheMamboMomentum
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
Is market forming new ATH or getting ready to retrace?Nifty closed below the area where major trading is happening and the seller are really hit on the game selling markets at high. Though, it is a short term bear market. For last two weeks, market has consolidated and has formed another doji near the high. Markets are in confusion and the buyer-seller fight is still on. There is a confirmation as a double top patter is also beening formed. 1600 points or 9% move in nifty without a serious retracement on weekly charts. Though, markets have given good bullish move forming Higher Highs Higher Lows and is standing near the ATH but is losing the strenght for another up move as RSI is showing a divergence. People see a up move but before the move the markets will give a dip to hit the stop loses. Look for a Break Of Structure (BOS) forming a Lower Low. The major level of swing trades is below 18450-500 as there will be a BOS and 20 EMA will also give a break down on daily charts. For positional traders, there is an opportunity on the weekly charts where the next support seems to be around 18k levels. Fibonacci levels, support zone and moving averages all are converging creating a strong support near the levels. Enter trade only after there is a pattern formation or a retest and adapt for trailing stop losses to carry on with the trades. MA setup can also adopted for targets and stop loss as Daily and weekly moving averages are around the support zones. High chances are of a retest before Nifty creating a New ATH. Buyer have wait as per the technical analysis predicts. Wait for a confirmation and break down.
NSE:NIFTY
by TheMamboMomentum
Nifty daily analysis for 09/06/23.Nifty has given a beautiful bearish engulfing candle. The market gave momentum both the side. In the first half it tried to get close to 18800 but couldn't sustain and gave a 150 points move from the high. Market has closed below the 20 ema on the hourly charts, and there is possibility of testing the 200 ema i.e. 18340(at present) in coming sessions. The market even tried to trap the retails by giving a fake out above 20 ema, on 15 minutes chart. Support :- 18550, 18490 Resistance :- 18700, 18800. Both side momentum has been there in today's trading session. The market may take a halt of fall further. Watch support and resistance. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum
Morning Mantra - 8th June 2023Dear All, After lots of Doji formation, we have now finally observed a bullish candle on the chart of Nifty. So, as of now it seems that we are very near to witnessing a new high. Yes, it’s a crucial stage for every Trader & Investor. So, apart from being happy we also have to be a little cautious here. As at a New High, it somehow becomes the matter of a Psychological Effect, wherein even a selling pressure can be observed in such a situation. Although, the best part is that we have already been stating to keep Rebalancing your Portfolio since 1-2 weeks, because it is good to do so at any major event like New High, Budget etc Overall, as of now, be cautious, keep rebalancing your portfolio and keep following the Cherry Picking strategy with an immediate stop loss of 18400 and 18200. Regards, Alok Daiya SEBI Registered Research Analyst
NSE:NIFTYLong
by alokdaiya
Nifty daily analysis for 08/06/23.Nifty today has given a nice move and closed above the resistance zone of 18680. It remained strong whole day and gained momentum in the second half after the gap up opening. On the hourly charts, market seems to consolidate in the first half and gained points in the second half closing above 18700. Market seems to touch the high and create new ATH. Support :- 18680, 18550 Resistance :- 18800, 18870 Wait for the price action near the levels before entering the market.
NSE:NIFTY
by TheMamboMomentum