Nifty Analysis - Stance Neutral ➡️
Recap from yesterday: “On the 63mts chart, Nifty is still neutral with no clear indication of the next direction. BankNifty is bearish and the chances of Nifty going down may be higher due to that. The first target to break should be 21491 below which the bearish momentum will pick up an avalanche effect.”
4mts chart
Nifty...
- SPX has shown us a parabolic rally
- It's better not tp short SPX without a strong confirmation
- Look to Long Spx once you see a nice retracement to the origin of the move
- Spx is currently hovering near the overhead supply
- Spx can throw up big soon
- I think before shaking out bears SPX can again grab some liquidity from the demand zone
- Retrace more and add back up
- Risk here is 0.3%
Nifty Analysis
Recap from yesterday: ”For monday, I wish to continue with the neutral stance — but a slight bias to the bullish side after seeing today’s momentum. The first level to watch will be 19562 on the upside and 19310 downside.”
On the 5mts TF, I have encircled 3 regions.
The close on Friday.
The Diwali Muhurat trading on Sunday.
The close of...
Nifty Analysis
Recap from yesterday: “The levels have not changed from yesterday, the first resistance is at 19226 and the 2nd one is at 19310. I am staying neutral till 19226 is not taken out, seems like it could be even done in the forenoon session.”
The gap-up took out my resistance of 19226 and was forced to go long. I was eagerly waiting for the 19310 to get...
Nifty Analysis
Recap from yesterday: “Since we retraced the 38.2% level of 19226 today and the reluctance to go up might be confidence-building for the bears. Also the 23.6% level forms a base for further movements. The issue is that we cannot go outright bearish now, we need further proof of that. Ideally, the 18880 support has to be taken out and that too pretty...
Nifty Analysis
Recap from yesterday: ”For tomorrow I wish to continue my bullish stance if 19776 support is respected. If that breaks in the morning session, I would like to change my stance to neutral. If 19671 level breaks in the forenoon session — I would definitely go short as we may fall below the double-top formation.”
Yes, you guessed it right by reading...
SPX is down 6.07% from Sep whereas Nifty is only down 0.74%. If the coupling still exists and we think of US markets as the mother market - then further pain awaits Indian indices.
There are 2 factors which could play spoilsport
1. Rising oil prices - going to cost dearly as we are a net oil importer
2. Rising dollar index - this will push down the INR much...
Nifty Weekly Analysis
Nifty has fallen 354pts ~ 1.76% between the last expiry and today. Interestingly the price action on 15th and 18th stands out as an isolated island. Almost 90% of the fall came in the last 2 days which has even changed the sentiment.
Nifty Today’s Analysis
Recap from yesterday: “For further down move we need that gap to be taken out on...
Our NSE:NIFTY & NSE:BANKNIFTY is following the same chart pattern as SP:SPX
A falling wedge plus bearish descending channel with a strong horizontal support
SPX has just broken out from the falling wedge, will it breakout?
And if yes - some of that euphoria will spill onto Nifty50 as well.
Nifty was leading SPX all the way till Sep 2022, after which SPX has taken over.
If US markets stay like this, the underperformance in Indian markets will create a spiraling effect.
More money will get taken out by FIIs
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Both SPX and Nifty50 are plotted in USD currency. The depreciation in INR will be accounted automatically.
CPI data will be released today. Looks like CRYPTOCAP:BTC is getting ready to pump. Expect a bounce in the crypto market as the CBOE:SPX is on a strong rise. Only 0.5 risk today. I hope this range will be broken soon. Are you ready?
Previous day:
VAH: $30357
POC: $30528
VAL : $30397
Date: 12 July 2023
clearly Rate pause as been received as positive and great news for equity now. with bullish RSI 3 targets on higher side could be achieved very fast. price moves very fast in short time with strong RSI and cant catch the Top now......
SP:SPX semms to be moving into ABC corrective pattern after completing 5 impulse waves.
Also, RSI divergence very clearly visible on daily chart.
Next wave will be a down wave in coming week(s) taking the index to the support level marked on the chart.
