Nifty trading @11194.15 Please find the levels on the chart. On upper side zones, (11247-11262) & (11357-11387) On down side zones, (11039-11078) & (10849-10896)
Nifty trading @10930. Probably nifty will open gap up or flat on monday. Major key levels are mentioned on the charts. Next supply zone will be (11078-11167) with the resistance @10985 On downside there is key Demand zone @(10228-10390) with the support @10550
My pervious Nifty's post title was: " Avoid Short Trade in Nifty" As I have mentioned in that post Nifty made low near 10750, took support from it's demand zone and closed at day's high near its supply zone. My Next Week view: --- According to the demand and supply zones, Nifty closed near it's supply zone @ 10925-10985. So whenever it will sustain above this...
Please find the levels on the chart. Nifty trading in very tight range. 10700-10850 is no trade zone. Wait for confirmation to go long or short on either side. If nifty sustains above the level 10850 then only go long. If it sustains below 10700 levels then only go short.
On each stage distribution and advancing stage is clearly seen in the chart. On upside we may see nifty touching 11200-11300 levels in upcoming days. Go short only below 10100 levels after the confirmation of trend reversal as the downside is looking limited as this point of time.
Why I have mentioned that "Don’t try to predict the stock market" because last week I have updated my Nifty Weekly Post on Saturday and SGX Nifty was down by approx more then 100 points. But my trading setup was saying different story. I posted "Nifty: very less probability to break or sustain below 10000" and finally Nifty closed on the week's high. Nifty this...
Nifty is trading near 20 moving average. It might be the sign of reversal for next week's expiry. If nifty sustains above 9500 level then only take long position for the 14th may. On downside there is support @8400 level and strong support @8000 level.
NIFTY close @ 9250. On the upside, there is a major supply zone near the 10000 levels. And on the downside, there is a major demand zone for this week near the 8800-9000 zone. Below 8800 next demand zone @ near 8500.
Please refer the chart for the upcoming weekly expiry of 7th may. Strong reversal zone @ 10150-10250 Reversal zone @ 9960-10000 Minor support zone @ 9600-9700 Major support zone @ 9300-9400 Strong support zone @ 8900-9100
NIFTY WEEKLY CHART ANALYSIS -SINCE 9TH 2017 OCT 9950 HAS BEEN A CRUCIAL SUPPORT FOR THE INDEX QUIET A FEW TIMES -REMEMBER HIGHER THE TIME-FRAME STRONGER IS THE SUPPORT/RESISTANCE -WE TOOK LOT OF TIME TO BREAK ABOVE 9950 INITALLY -BUT SINCE OCT OF 2017 WE HAVEN'T GONE BELOW IT -DUE TO THE PANDEMIC THE LEVEL WAS FINALLY BROKEN IT TRAPPED SOME SHORT PLAYERS -BUT...
On the weekly chart, there is a short term demand zone @ 8800-8950 and supply zone @ 9350-9600. I think Nifty will manage to hold its demand zone and it may test its next supply zone @ 9350-9600.
Nifty is making lower highs and lower low in higher time frame Nifty closed @ 12080 and there are multiple supply and demand zones in 12980-12200. I am Bearish in Nifty but I will trade in Nifty once it will start respecting any supply and demand zone between 12980-12200 or sustaining below 11980 or 12200.