As we have been discussing the NIFTY in the channel, It performed really well. But now it's forming a new pattern that can be seen in the chart. Nifty has been showing a very bullish signal as it has been super bullish in the last hour today. Suppose we look into OI data PCR = 0.88, which is assumed to be mild bullish. Also, it has been taken support at the...
NIFTY MID CAP SPOT CMP 47500 Weekly time frame Ascending parallel channel structure Index is trading around resistance zone as per structure trend line Equivalent measured move done which confluence around resistance zone as per channel Bearish divergence on RSI with respect to price action. Fibbo extension of 2.618% done which is the max extension in history of...
ASCENDING WEDGE STRUCTURE index is trading around resistance zone as per structure if failed to sustain at higher levels sharp reversal can be seen,, keep watch on psu stocks look like time to pocket profits in psu stocks
"Giftnifty indicates a -5 point trend, suggesting that Nifty might open neutrally. after that If it experiences a pullback and effectively breaks the level of 21707, we can expect its continuation towards the 78% supply zone.we can expect its continuation towards the 78% supply zone Bearish perspective: If the market opens with a gap-down or faces rejection...
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Nifty Weekly Analysis Between the last expiry and today, Nifty50 has fallen only 99pts ~ 0.46%. Credits to the recovery today that made up 141 of the lost points. N50 also has managed to bounce off the channel top line indicating further signs of strength. 63mts chart link Nifty Today Analysis - Stance Neutral ➡️ Recap from Yesterday: “On the higher time...
Banknifty has given a fall in daily charts, closing below the round number figure of 48k. It is sitting around 50% fibonacci levels. Either it will retest 38.2% level or come to test 61.8% levels. Major Support levels :- 47675, 47460 Tomorrow is weekly expiry and today itself has given a 470 points fall. If the market remain bearish the lower levels can be...
Nifty is currently sitting on the support of 38.2% fib level and it is a good support for the index. This is the third time the support is being tested. If there is a break down of the levels 50% anf 61.8% levels can be tested on the expiry day. Major support levels :- 21420, 21300 If there is a flat or gap up opening wait for the bearish price action as market...
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Based on FIB Levels, Volume and Technical Indicators. IEX could be LONG as show above.
Hello everyone, Nifty had a great time in 2023. Now is it a time relaxation and allowing the correction which is required for market to breath healthy. There were few gap-ups earlier. Of these, one gap has been filled up and has acted as a good resistance pushing the market in the downward trend towards the next gap-up space created earlier. Currently it has...
RAMA PHOSPHATES is near it's triangle breakout and can deliver some outstanding returns. Short term targets are 15-20%. NOTE: I'm not a SEBI REG. Study before investing.
BankNifty Weekly Expiry Analysis BN just fell 742pts ~ 1.53% between the last expiry and today, logically it got only 4 working days as the last expiry was on a Thursday. A 742pts move is nothing considering the shape BN is currently in. Since the stance is now bearish, we are hoping for a build-up in the momentum soon. 63mts chart link BankNifty Today...
Nifty Analysis - Stance Bearish ⬇️ Recap from yesterday: “The first target for a trend change will be the breach of the ascending channel top line approx 21530 levels. From a technical analysis perspective, we had the 3 black crows at 14.30 yesterday and the first 2 candles today.“ 4mts chart link We got our first target of 21530 hit today and as soon as the...
As we have discussed, the Nifty in the morning analysis fell quite a few points with a nice selling volume. Right now, Nifty is moving into the bearish channel and is supposed to complete it. It will move to the 200 EMA, and it might take support there. According to the OI data, PCR 0.62 means it's very bearish. I am expecting it to fall to 200 EMA. Reason: ...
Based on Fib levels, RSI readings and volume, I feel the marked area is potential area to get a long position in Nifty.
Regarding Nifty: If it opens with a gap down and breaks the demand zone (21533 to 21518), then we can expect a continuation of correction with minor pullbacks. On the other hand, if it finds support within that range as per the structure, it might experience a minimum 38% Fibonacci retracement.