alokdaiya

alokdaiya

Dear All, In the last week, we had indeed witnessed a lot of volatility in the Market, where on the one hand we had observed a beautiful breakout of 18200 level on the day basis. While on the other hand, a huge supply pressure was observed on the last trading of the previous week. After which Nifty is now almost very near to its immediate support...

alokdaiya

Dear All, So finally we had observed a very beautiful movement in Nifty on the day of weekly settlement. Wherein after 2 days, we had finally witnessed a closing of above 18200. For now, if Nifty successfully sustains above the level of 18200 on weekly closing basis then we are very positive for a new high in Nifty with the stop loss of 17800 in...

alokdaiya

Dear All, So yesterday was another day of Consolidation where Nifty is somehow trading in between the levels of 18200 and 18000. Moreover, since today is the day of weekly settlement, so be cautious . For now, 18200 will work as a level of Resistance and 17800 will be our nearest support level. In the meanwhile, keep following the Cherry...

alokdaiya

Dear All, So, Yesterday we had witnessed a beautiful Gap Up Opening in Nifty, just as we had stated in our last Morning Mantra update. Well for now, since Nifty is still trading above the neckline of the inverted head and shoulder, i.e., above the level of 17800 . So, we can now shift our stop loss level from 17300 to 17800 on weekly basis. ...

alokdaiya

Dear All, A New Start of the Month with a New and Fresh Bullish Reversal Pattern on the Monthly Chart of Nifty, i.e., Morning Star Doji, is somehow indicating that Nifty can cross the previous all time high of 18887.60 in the upcoming days. On observing the day chart, Nifty has successfully crossed its neckline of 17800 level. While on the ...

alokdaiya

Dear All, We had witnessed a very beautiful day yesterday. Wherein finally we had seen a breakout of the 17800 level on closing basis, as Nifty made a closing of 17915.05 Besides, on another positive note , Nifty is almost near to its Morning Star formation on its Monthly Chart. These are indeed very good sign for the Market in the long-run ....

alokdaiya

Dear All, So, Finally yesterday we got to witness a closing of just above the level of 17800 , i.e., around 17813.60 But somehow this closing does not seem to provide much conviction. Besides, on observing the formation of a Hanging Man pattern on the day chart of Nifty, raises the need to stay cautious here. Yes, this need of cautiousness is expected...

alokdaiya

Dear All, So finally yesterday, Nifty had touched the level of 17800 . However, being unable to sustain over the same, it failed to give us a closing of above the stated level, and ultimately we got to witness a closing of 17769 approx. Besides that, we had also witnessed a selling pressure in many of the stocks, yesterday. Well Just as we had...

alokdaiya

Dear All, It will somehow be a very crucial week for us, as we can observe a bearish engulfing pattern on the weekly chart of Nifty. Also, a strong Resistance is being faced at the level of 17800 . So, as of now we have two sides, i.e., to consider the level of 17300 as a level of support and the other being, to enter the Market after witnessing a ...

alokdaiya

Dear All, Yesterday we had seen the effect of the Hammer pattern, as we had observed a beautiful start in the Market. But unfortunately since it was a day of weekly settlement , we had to witness a roller coaster day. Well, this fight between the demand and supply has created a kind of Doji pattern on the chart of Nifty. Besides, as today is the last...

alokdaiya

Dear All, So for back to back three trading days we have been observing 3 red candles on the day chart of Nifty. Which is somehow indicating the importance of the 17800 level as well as the importance of the bearish reversal pattern, which was bearish engulfing . Furthermore, it is a weekly settlement day, today . And on a positive note, on the Day...

alokdaiya

Dear All, Just as we had stated yesterday itself, similarly following the impact of the Bearish Engulfing pattern , we did once again witness a supply pressure at the upper levels in Nifty, yesterday. Wherein, even after a gap up opening , we had witnessed a lower closing of around 17660 . So, ultimately it’s a very crucial situation in the Market as of...

alokdaiya

Dear All, Yesterday was a day where we had once again witnessed the significance of 17800 as a crucial level of Resistance . Also, a huge supply pressure that was observed yesterday, is somehow indicating that the Market is currently in a rangebound of 16800-17800. Besides, a perfect bearish engulfing pattern on the day chart of Nifty, is somehow...

alokdaiya

Dear All, So, it has been back to back two weeks now, that we have been witnessing the magic of the Morning Star formation on the weekly chart of Nifty. Moreover, we have observed a V-shaped recovery in the Index, i.e., from 17800 to 16800 and then from 16800 to 17800. Well as of now, the Index is trading at a very crucial level of 17800 ....

alokdaiya

Dear All, So finally yesterday, we had witnessed a wonderful rally of 1000 points in Nifty from the level of 16800 in the last 7-8 trading days. As Nifty had finally made a closing of above 17800, yesterday . However, yesterday’s closing is somehow indicating us to be a little cautious here, as we can observe a hanging man formation on the day chart of...

alokdaiya

Dear All, We can once again see a Doji formation on the chart of Nifty, which is quite a good indicator of a fight between demand and supply. Indeed this fight is quite natural as we are currently at a very crucial level of Resistance of 17800 . Besides, it was since the level of 16800 that we have always been bullish on Nifty , for a bounce back...

alokdaiya

Dear All, So finally we had witnessed a pause in this small rally of Nifty , yesterday. Wherein, after making a high of 17694 , we had observed a flat closing of around 17624 in Nifty. Which altogether is somehow indicating a supply pressure from the upper levels. Besides, we are expecting an up-move towards our target level of 17800 , which is a very ...

alokdaiya

Dear All, On observing the impact of the Morning Star formation on the weekly chart on the last week, we did witness a beautiful momentum of upto 17600 in the Market. Well as of now, we are very close to our target level of 17800 , and yes this time we need a beautiful breakout above this level. Wherein, a closing of above 17800 will give a strong...