Nifty Analysis Recap from yesterday: “For tomorrow, I wish to maintain the bullish stance with the first target of 19446 and then 19576. If we are going down, the first level to watch will be 19310.” 19446 level never came into the picture today, but 19310 looked quite vulnerable for a breach today. The open was in line and then we had a strong RED candle. From...
Nifty Analysis Recap from yesterday: “On the 1hr TF, Nifty has made an odd-looking W pattern, technically its a bullish sign but we need confirmation of the same by taking out the 19310 resistance soon.” A look at the chart will make you a believer in technical analysis. We required a gap-up to go past the 19310 because bulls could not win over the bears during...
Nifty Analysis Recap from yesterday: “The levels have not changed from yesterday, the first resistance is at 19226 and the 2nd one is at 19310. I am staying neutral till 19226 is not taken out, seems like it could be even done in the forenoon session.” The gap-up took out my resistance of 19226 and was forced to go long. I was eagerly waiting for the 19310 to get...
Nifty Weekly Expiry Analysis Between the last expiry and today, Nifty has accumulated 299pts ~ 1.59% points. Most importantly it has broken away from the crucial support of 18880. As it stands Nifty is below the resistance of 19310 - but with the momentum it has gathered, seems like it will get tested this weekly series. Nifty Today’s Analysis Recap from...
Nifty Analysis Recap from yesterday: “Since we retraced the 38.2% level of 19226 today and the reluctance to go up might be confidence-building for the bears. Also the 23.6% level forms a base for further movements. The issue is that we cannot go outright bearish now, we need further proof of that. Ideally, the 18880 support has to be taken out and that too pretty...
Nifty Analysis Recap from yesterday: “Even though we added 93pts today, I have still not changed my stance to bullish. 19226 is my first level to watch out which coincides with the 38.2% retracement level of the recent fall. Then the most important zone of 19310. Ideally, I wish to go long only if the 19310 resistance is taken out.” The open (19233.7) was quite...
Nifty Analysis Recap from yesterday: “A simple Fibonacci level places the 23.6% retracement level at 19083 and 38.2% at 19227. Ideally, the bearish trend could still be intact until 19227 but the problem is that we cannot predict with certainty if that would come in this weekly series or not. For Monday, I wish to go with a neutral stance and choose the direction...
Nifty Analysis Recap from yesterday: “For tomorrow, I wish to maintain my bearish stance and expect Nifty to trade between 18880 and 18762. If we break 18762, my next target would be 18597.” Nifty took a breather today, opened gap up around the 18930 area and rose steadily. We did not retouch or break the low of 25 Oct ie 19075 zone, slightly indicating that the...
Nifty Weekly Expiry Analysis Nifty fell a whopping 765pts ~ 3.90% between the last expiry and today. Most importantly it has retraced all its gains from 28th June to close below 18880. We will cover why that is relevant below, but this fall of 4% signals a reversal in trend. Even though VIX is still below 12%, it is showing a tendency to spike, reassuring the...
Nifty Analysis Recap from yesterday: “Since we are back at the 19310 levels, my point is — the next fall may be as deep as 18880 i.e 430pts ~ 2%. Nifty has no experience trading between these 2 zones earlier, so the supports should be equally powerless. I can mark the top of the candles as support zones, but they would be predictably weak (19190 & 18969).” Nifty...
Nifty Analysis Recap from yesterday: “Keeping the global macros in mind, I still wish to continue my bearish stance and expect the 19446 to be taken out on Monday and retest the 19310 soon.” If you watched the opening minutes, you would not have guessed the 283+ intraday fall possibilities. We had a flat open instead of a gap-down even after a weak handout from...
Nifty Analysis Recap from yesterday: ”Since we are between 19446 and 19776, Nifty is still range bound — but BankNifty has fallen below the support and is looking weak. For tomorrow I wish to change my stance to bearish with the first target of 19511 and 2nd target of 19446. If we are climbing up, would not prefer to go long until 19776 is not taken out.” Nifty...
Nifty Weekly Analysis Between the last expiry and today, Nifty has only fallen 172pts ~ 0.87%. Meanwhile, BankNifty fell 1.42% in its weekly expiry (we discussed it in yesterday’s newsletter). Nifty is still range bound whereas BankNifty has dropped below the support. Usually BankNifty leads the reversals, so we can increase our expectation of a fall in Nifty...
Nifty Analysis Recap from yesterday: “On the 1hr TF, we have formed an island just above the 19776 levels. Today’s swing high has taken out the highs of 12th October. I wish to continue with my bullish stance as long as the support of 19776 is respected. Ideally, the next target should be 19907 and then 19998 if we are going up. Not sure why, but our markets are...
Nifty Analysis Recap from yesterday: “On the 1hr chart, I wish to maintain the neutral stance until we break out or break down. Since we are near the resistance level, the probability of breaking out could be higher. That does not mean we jump the gun and take the trade early — patience is gold” Nifty got a mega boost by the gap-up open of almost 118pts ~ 0.6%....
Nifty Analysis Recap from yesterday: “On the 1hr pattern, the first thing I would like to do is change my stance from bullish to neutral. We have broken the 19776 support today and well above the 19446 zone. For Monday I wish to go with the neutral trades only and go short if we fall below 19614 in the forenoon session.” We started the day with a strong red...
Nifty Analysis Recap from yesterday: ”For tomorrow I wish to continue my bullish stance if 19776 support is respected. If that breaks in the morning session, I would like to change my stance to neutral. If 19671 level breaks in the forenoon session — I would definitely go short as we may fall below the double-top formation.” Yes, you guessed it right by reading...
Nifty Weekly Expiry Analysis Nifty went up 236pts ~ 1.21% between the last expiry and today. The major highlight was its capability to defend the support of 19446 and then breach the resistance of 19776. Today we even retested the support of 19776 and it held and may pave the way for further upmoves. Nifty Today Analysis Recap from yesterday: “We had a perfect...