Nifty now immediate resistance 12272 /12290 above 12290 it may show 12350
HH-HL formations .
Consider budget before trading .
Volatility will be good.
keep your charts simple , adding many things don't give results because you will be bounded
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The Support and Resistance Levels for the Nifty50.
The most important Yearly Level for Nifty 12337 if the price holds the level the next target will be 12535 (+190 Points) if the level fails the next immediate support will be 12008(- 330 Approx).
Bearish ABCD Pattern Rules
Point A is a significant low
Point B is a significant high
In the move from A up to B there can be no lows below point A, and no highs above point B
If AB, then find BC
Point C must be higher than point A
In the move from B down to C there can be no highs above point B, and no lows below point C
Point C will ideally be 61.8% or...
THIS IS A VIEW ON NIFTY INDEX NOT A SUGGESTED TRADE
SINCE I DON'T TRADE WITH MONTHLY POSITIONS
!!CAUTION!! IN NIFTY INDEX
-AS WE SEE THERE IS A CLEAR DIVERGENCE IN NIFTY INDEX ON MONTHLY CHART
-MOMENTUM INDICATORS ARE LOSING MOMENTUM
-CLEAR "DIVERGENCE" IS VISIBLE ON THE INDEX MONTHLY CHART
-WE HAVE CLEARLY HIT RESISTANCE ON WEEKLY CHART...
Indecisive street holds the major indices in a tight range for the week, looking for further cues it is still unclear which direction it would resume going forward. Nifty and Nifty bank respecting our supply zones of 12016 and 30641 respectively as mentioned in the last report.
Nifty continuing to be in uptrend holds a key supply zone of 12016 with a stop loss...
NIFTY: Daily price action has created a resistance on the chart. Now 12015 (spot) levels will be acting as resistance. The dominant trend is up, the prices are trending above the kumo indicating strength. Momentum has slowed a bit, however it is expected to pick up in the coming sessions if 11820 holds on closing basis. Below 11820 Nifty may drift down 11560...
Today We saw a mixed day, by EOD we saw the rejection from upside and it is reflected on the daily chart.
Our levels worked very well today too.
Today it has formed a shooting star kind of candle but not perfect, basically we consider this candle as sign of reversal when market traded near to the resistance zone.
But nowadays sentiment is positive...
04 - 08 Nov 19
Strong resistance is seen around 11970-12118 area were W5/C/(B) completes
expecting a strong selloff to happen around this zone
Going short on break of 11843 will be a good idea
refer chart for possible W (C) tgt as mentioned
Happy Trading ....Respect Risk
Festive season brings out some cheer for the street, inching the indices higher towards their all-time highs. We had few shorts which would have triggered as mentioned in the last report for Nifty at 11839 and the Nifty bank at 29674. It is suggested to strictly follow the zones and have stop losses in place. Some disappointment in numbers pertaining to PMI and...
Today I was expecting a bullish move and it was but in last hour we saw selling pressure from 11946 level and my resistance level was 11926.
Now on the daily chart it has formed long upper shadow with little body.
By looking at the daily candle of today, I am bit bearish because there is a resistance on weekly chart and 11926 is the weekly...
In continuation of my previous post, there was a concern on the Nifty weekly chart, the RSI on the weekly charts was close to 60 levels. Now the candles on the daily charts in the last two sessions seems to pull breaks on the rally. Though the momentum hasn’t dried up on the daily, the price pattern is giving signs. 11785 is the gap area, a close below this may...
Today we saw consolidation at the upper level. And formed a bearish candle with rejection from lower level on daily chart.
Above - 11880 go long for 11967 - I am expecting this to work
Below- 11814 go short for 11755
Giving a look at the Nifty weekly chart. The index is moving into gap zone plus RSI is near 60 levels. Though the daily charts don’t display any caution yet, but 60 levels on weekly’s are pressure points. The week is still on, so the analysis will make sense only after the weekly close by Friday. But the exuberance is building up, emotion outburst are generally...