SGX Nifty at a critical level
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.
Take positions only if you understand what you are doing, else you are going to wind up with heavy losses.
Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Sgxnifty
Nifty 50: The M of doomThe pattern that is happening on the 4 hours chart looks like an M pattern as of now. These usually have a tendency to break down if the pattern completes its waves by touching 15440 again. This area is a very strong support but if the price action completes this pattern then touches this area, then a huge down move can be expected.
For now, we have the support of 50 EMA coming up along with the 15611 area which will be crucial. If the price gets support in both of these in combination, a strong up move to 160000 can be seen.
Message me or comment if you want faster updates. This is only for educational purposes and I am not a financial advisor
SGX NIfty LongSGX NIFTY View for 01-06-21 CMP:15640
Resistance: - 15700-15725
Support: - 15575-15500
Note: As per Yesterday SGX Nifty where it has able to close above 15500 which now act as immediate support for the upside rally towards 16000. Until and Unless we are able to sustain above 15450 current UP trend will be intact where it will go by forming Higher Top and Higher Bottom
:- By- AFP Chirag Sanghvi
RSI Divergence in SGX NiftyThe charts clearly shows short term bearish RSI divergence coming in the way of a Rising Wedge pattern on the Daily charts of SGX Nifty.
Last week Friday ended up forming a Spinning Top in SGX Futures while Spot formed a Grave Stone Doji.
These are early waring signals that we may witness a downside as the market finds immense pressure at the moment to continue its upside.
Breakdown awaited.
SGX nifty May 1st weekFailure 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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Disclaimer - This post is for educational purpose only. Please consult your financial advisor before taking any position.
SGX nifty daily chart 26 AprilEven 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.
#Banknifty Trade Setup For Tuesday (30th March)Banknifty and Nifty is range bound on Friday.
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As you know on today (29th March) share market is closed in India on the occasion of Holi.
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But global market is open and SGX Nifty give the positive opening so maybe on tomorrow our market can open in a positive not.
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Our Target is simple if Banknifty cross 33530, then we will buy CE for the target of 34000.
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If Banknifty goes down below 32870 we will buy PE with 32500.
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If Banknifty give Gap up or Gap down Opening we will wait for the correction.
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You can give your suggestions in comment box.
SGX NIFTY OUTLOOK FOR 23-MARCH-2021SGX Nifty is trading between Range 15350-15440 on the upside and 14360-14460 on the lower side. Currently Trading around the Lower end of the Range, Breakdown Below 14360 may see selling pressure, On Immediate basis 14570- 14600 (Previous Day Low) will Act as support for SGX Nifty
Nifty may have completed its wave 4In my March 17th analysis, I thought that Wave 5 extension may have ended and we can see a deeper correction but when I re-look at the weekly charts it looks like it is the wave 3 extensions only and by bouncing off from wave A low we may have completed wave 4 and now we may be starting wave 1 of wave 5
SGX NIFTYSGX NIFTY
SGX NIFTY support of 14441 critical for bounce or for breakdown
Trend Line violation witnessed.
Support of last swing bottom 14441 is visible.
The same is being tested.
Low till now 14507.
On further fall and close below 14441
expect slide towards demand zone.
demand zone -14065-13666.
wider zone-13805-13160.
resistance currently will be at 14741-15058.
If SGX Nifty closes above the violated trend line will mean automatically crossing the yellow trend line.
Trend line no.1 yellow violated.
Trend line no.2 support
once violated on close then expect
trend line no.3 and trend line no.4
range for profit booking in case of sell position will be trend line no.3 and no4 range.
reversal of the current trend will be closing above trend line no.1 with bullish candle.