SGX Nifty seems to be rebounding from the 50 moving average cluster on the daily time frame. As you may already know that 50MA/EMA plays an important role on the daily time frame. Another factor is that RSI is also curving upwards from 45 level, which is particularly a good sign.
With SPX(US index) recovering over 2.5% since yesterday, and SGX getting support...
A broadening formation is a price pattern characterized by increasing price volatility and diagrammed as two diverging trend lines, one rising and one falling. Since we have been facing some volatility lately, the pattern seems to be developing. Also, the price is now trading below July month open, which puts the net longs above 15746 in the loss. This means that...
If you trade using moving averages, MA, or EMA, you may want to look at the 4hr chart of SGX Nifty. It already broke down the 200EMA. The price may try to recover this level ~15700. If it fails, we are probably going to slide to lower levels. The price is now trading below July month open, which puts the net longs above 15746 in the loss. This means that there...
There is a global sell-off. All the markets are down, be it SPX, FTSE, DAX, etc. SGX Nifty is also tanking heavily.
SGX Nifty may reverse or at least show some bounce from this Green box or from the next support level.
The RSI is in oversold territory and there is a divergence on 4hr.
I think this is a shakeout move before moving back up.
Failure to break 14900-15000 the price has again came within bearish range that is followed from March month., Breaking the friday low may start a bearish trend in nifty.
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I believe in keeping the chart simple for easy...
Even close below 14200 happened next day it rebound, it is now creating an another range in the bearish side. A convincing break is required for a trend.
Above 14500 things can get bullish till that time its bearish.
Disclaimer - This post is for educational purpose only. Please consult your financial advisor before taking any position.
LONG SCENERIO - Nifty50 has been trading in a very crucial level. The gap up from 2nd of Feb (Budget day)has being acting as very crucial support & seems to be like big players spot. Well we wanted to know if NIFTY has a momentum while giving reversal from support & we plotted a divergence that has occurred near support area.
Note while doing analysis, we also...
SGX NIFTY showing Trend line breakout and try to make new high.
The peak of 15433 is likely to tested.
Along with the current trend line
breakout if another breakout above
the peak is witnessed then expect
a rally to 1552(61.8%) Fib Project
,100% 16238 and 17374 (161.8%) 17347.
Support will be at 15134-15130.
Overall need to remain above 15100.
Resistance comes from 61.8% 15122 and from 15151.
If sustains above 15151 then expect a rise to next supply zone-15247-15433.
Finally if breakout above 15433 does happen then rally towards 15903(1.618)
Support gap 14870-14806 and the swing bottom low of 14639 will be key support form here on.
The pink line can be critical.
Black line can...
SGX NIFTY needs to sustain above the black line.
Alternatively, a fall and close below 14926
can lead to a swing top .
In that case the slide can be back to
13588 or below.
Trend is up therefore the bias
Expect to hold the black trendline.
Potentially look for rise till
1.618% retracement of the fall from 14769 to 13578.
THe level is 15506.