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...
The markets opened with a gap-down and remained in the negative territory for the rest of the day. The advance: decline indicated broad-based selling as 40 of the Nifty50 stocks closed in the red.
Among the Nifty sectoral indices, all indices except FMCG were down, with Media (-2.5%) and Realty (-2.5%) being the top losers. Nifty FMCG (+0.1%) was the only index to...
I have noticed this correlation between Nifty and Indiavix.
1. Whenever there is a spike in volatility and volume, that seems to mark the bottom for Nifty.
2. This theory seems to be holding for the last 7-8 months.
3. Currently, we are facing a similar kind of situation. The Vix has spiked and the price is tanking.
4. If the theory holds its value, the bottom...
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...
We saw a running correction yesterday. The points to note is thta Nifty took support at 50 DEMA and closed above it in 4 hour charts.
There is a reversal in MACD and RSI in the 15m charts as well.
My suggestion is buy for target of 16000 and 16150.
Dear Trader this is Nifty Eliott Wave analysis.
I tried my best to make it accurate as much as possible. You can also check my earlier Eliott wave analysis for Nifty which is almost correct & now I am happy to publish another alaysis.
Trade and Enjoy
Nifty has just reclaimed its support, 20-July trading day will be crucial. Nifty is still in uptrend but with pressure from some sectors.
If on 20-July Nifty still doesn't breach its support of 15700 then nifty will remain in uptrend until its R1 - 15913 and R2 - 16138
If in case Nifty Breach its support of 15700 then Nifty can be dragged upto S1- 15639 and S2 -...
The markets had a weak start and the selling accentuated in the second half of the trading session. 39 of the Nifty50 stocks closed in red, indicating broad-based selling.
Amongst the Nifty sectoral indices, Financial services (-1.9%) and Bank (-1.8%) were top losers whereas Realty (+0.4%) and Pharma (+0.2%) managed to stay afloat.
Asian Markets and European...
IS IT LOOK FOR MULTIPLE TOP FORMATION
The same would get confirmed on violation of support.
A rectangle if breakout is seen for continuation pattern.
The momentary bias is to put pressure on support and rising trend line.
