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NIFYT WEEKLY UPDATEINDEX UPDATE NIFTY -like last weekly update had explained a break below 16820 will lead to 16400-16200 -today we are opening at the lower end of the range target we had from 17430-16820 -but most traders have not been able to capture the down move in market -last weekly candle on nifty is brutal -nifty will open in strong support zone of 16200-16150 -banknifty will open near crucial support of @34200-34300 -nifty pcr is oversold -intraday bounce is expected -weekly chart indicating nifty may move towards 15500 level if it closes below 16000 -FRESH SHORTS BELOW 15950 global and currency update *dxy index like discussed above 104 is alarming *usd/inr breaking above all time high *expect financials and nbfc to be under pressure *wti curde back above 110 *US-10Y SETTLED ABOVE 3% *US MARKET ALL MAJOR INDEX HAVE BROKEN HEAD AND SHOULDER PATTERN NECKLINE "NOT GOOD SIGNS FOR MARKET" "STAY LIGHT IN OVERNIGHT POSITIONS NIFTY HOURLY CHART BANKNIFTY WEEKLY CHART DXY MONTHLY CHART US MKT PATTERN UPDATE
NSE:NIFTY
by manavtechresearch
NIFTY INDEX WEEKLY UPDATEINDEX UPDATE NIFTY -like explained last week 17430 and 16820 is our trading range -we may open at the lower end or even lower -dow/s&p/nasdaq all our are showing head and shoulders pattern on weekly chart -i had shared a monthly chart of dxy (dollar index) which is on the verge of giving double bottom break -us/10y are trading near 3% must not cross above that but if dxy is rising then it will also -major red signal if "S-10Y BREAKS ABOVE US-30Y" -risk of stagflation in US markets are running high now -heading towards dot.com crash levels which were seen in early 2000 -will we decouple from global shock or usa markets are factoring 4th may fomc meet -no one knows -but eventually indian market will decouple i strongly believe but first need to whether the storm -coming back to levels we must not close below 16820 on closing basis if we do we are heading lower -monthly and weekly chart are not giving a good picture -previous top was 18100 from there we came to 16825 -we started a fresh move which ended@17400 and we are expected to open below 16820 -we will start the may contract below the april month low which is indicating downside pain -so taking the previous swing from 16820-17400 as target -target below 16820 should be atleast 16400-16300 on downside -dxy above 104 will raise alarms so watch out for dollar index -on the upside in nifty unless 17430 is taken out -i do not see further upside -it would be good for markets to trade in the range of 16820-17430 -if it does trade in the range then market would have absorbed all global shocks and start its own fresh rally DXY MONTHLY CHART -its important to break above 104 for double bottom break -dow/s&p/nasdaq all our are showing head and shoulders pattern on weekly chart
NSE:NIFTY1!
by manavtechresearch
NIFTY VIEWSUMMARY:- *nifty has hit 50% retracement near 16850 *16850 has been crucial support zone for the market previously *17200 and 17000 put option had max writers and majority of them were retailers *with a panic low and yesterday inside bar break we can assume that 16850/17000 can act as crucial support *index may also break a bearish trendline visible on daily chart -TODAY WE HAVE AN INSIDE BAR BREAKOUT -BEARISH TRENDLINE BREAK ON THE CARDS good things going:- icici bank results on sat due to hdfc bank results all banking stocks have absorbed negative news icici bank has been outperforming hdfc bank in last 4 qtrs last time when hdfc bank posted bad results we were down bad and icici went on to hit circuit if icici bank results outperforms on sat then god bless all relative strength banking stocks axis/sbin and icici bank will blast and we can expect 1000+ move on monday
NSE:NIFTY
by manavtechresearch
NIFTY INDEX CONTRA TRADE SUMMARY:- *index is correcting after a huge rally *we have achieved 23.8% retracement *index has almost tested its 20-day average *buying the first re-test of its 20-dma *index pcr @0.80 oversold zone *index has entered its crucial demand-supply zone *if you watch closely 17550-17630 strong supply and resistance zone *safe traders can enter longs if market tends to close above 17600 in spot *if that happens it will be safe to hold longs and sit for a upside target of 17750-17800 (short-term trade) 'Index has trendline break at previous recent high of 18100' *if that happens we are moving towards ALL-TIME HIGH *lots of global hurdles once the dust settle we should see the uptrend resume *we have truncated week with two holidays *markets on monday will react to infy and hdfc bank results *not over optimistic but if index closes below 17450 will be difficult to make a comeback in short-term *near 17500 index has factored -2.8% US10y -100 dollar brent crude -usd/inr@76 -any improvement in global scenario will lead to relative strength in Indian equity markets "PLEASE READ THE ABOVE" "ACKNOWLEDGE MARKET RISK" NIFTY FUT BUY@17575(ABOVE 17570) STOP@17425 TARGET@17725-17800-17875 (short-term targets can be revised later)
NSE:NIFTYLong
by manavtechresearch
NIFTY BREAKING OUT OF BEARISH TRENDLINE (INDEX UPDATE)SUMMARY:- *index has broken above its bearish trendline *last time it did that we saw 1000 point rally in index *we have re-entered the trading range of 16800-18350 *at the same time we have captured 200-dma *oil near 100 or almost below that *only thing is that it can find support near fibonacci levels *FOMC meet tomorrow night *market will go bullish into the event *according to me :-rate hike is factored and known news will be positive *re-iterate index target on the upside NIFTY FUT BUY@16850-16900 STOP@16600 TARGET@17050-17190-17420 'longs were active since yesterday' 'we had a inverted head and shoulder pattern break' 'trade according to your risk appetite' 'this is my personal view only'
NSE:NIFTYLong
by manavtechresearch
ICICI BANK FUT LOOKING GOODSUMMARY:- *stock is bottoming out *it is good good support zone *overnight risk exist *so i would suggest to trade in options *use morning low as an exit signal ICICI BANK MAR FUT BUY@694 STOP@684 TARGET@707-717-727 *this view is my personal view trade with strict stoploss *once view may differ from others so trade with solid mind *once in profit and first target is achieved *trail your trade to short price so it becomes no profit no loss trade *do not overtrade *for more index and stock updates check the link in the signature box below *shorts are active and shared in the channel early *early analysis through link channel 👇👇👇👇👇👇👇👇👇
NSE:ICICIBANK1!Long
by manavtechresearch