Nifty is rallying for the last few days along with global markets due to relief provided by US President Donald Trump due to Tariff pause but we are approaching a zone where the maniac rise might halt or it might take some time to relax and catch a breath or two.
The zone of concern starts from Father line of daily chart which is near 23360. Once we get a closing above this point the zone between 23569 and 23893 will be little difficult to cross as it has the trend line resistance. Once we get a closing above 23893 the Bulls can be in very strong space where they can try to pull the market further 500/800 points upwards.
However we comment about it when we reach there. The support for Nifty in case the Father line or the Resistance zone of 23569/23893 plays a spoil sport will be 23174, 23039 (Strong Mother Line Support of Daily chart).
If the Mother line is broken and we get a weekly closing below the same Bears will come back into action and can try to drag the Nifty towards 22675, 22353 and finally 21737.
Disclaimer:The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
The zone of concern starts from Father line of daily chart which is near 23360. Once we get a closing above this point the zone between 23569 and 23893 will be little difficult to cross as it has the trend line resistance. Once we get a closing above 23893 the Bulls can be in very strong space where they can try to pull the market further 500/800 points upwards.
However we comment about it when we reach there. The support for Nifty in case the Father line or the Resistance zone of 23569/23893 plays a spoil sport will be 23174, 23039 (Strong Mother Line Support of Daily chart).
If the Mother line is broken and we get a weekly closing below the same Bears will come back into action and can try to drag the Nifty towards 22675, 22353 and finally 21737.
Disclaimer:The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.