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NIFTY

Nifty nearing Channel top again, Can it break the glass ceiling?Nifty is nearing the Channel top again, Can it break the glass ceiling is the question the current top of the channel remains somewhere between 23303 to 23422. If we get a closing above 23422 the floodgates / glass ceiling towards new Nifty highs will be broken. The door towards new record highs of 23772 or even 24369 will be open. In case Nifty is not able to cross 23303 or 23422 the support levels for Nifty will be at 23091, 22793, strong support of 22762 (50 hours EMA) and 22580 even stronger support of (200 hours EMA). Nifty rally turns negative and bears come out of comma if we get a closing below 22500 (Very unlikely). In that case bears can drag the Nifty towards 21984 or 21577 region.
NSE:NIFTYLong
by Happy_Candles_Investment
NIACL: Requested Price ActionOkay, This one is #requested by @sakshisehrawat4192 The chart should tell you everything you need to know. But again, for those who like to read our analysis, Here are a few easy pointers: - The script is Forming an ascending triangle on a shorter time length - The ultimate resistance trendline stands strong since 2018 - It is nearing a crucial resistance zone - The best case would be if it consolidates at the resistance for 4 - 6 weeks and then breaks the resistance. - A break of it would be a three-in-one breakout i.e. Trendline, triangle, and Resistance zone. This should give a push to the momentum. of course, based on the then price action. - RSI and MCD are positive indicators - The PE has Improved a.k.a better valuation - The first target should be around 140 - 150. Post which it will enter a previous consolidation range making it difficult to draw targets. - If it continues the upmove the final resistance zone sits at 170-180 levels. What should we analyze next?? Have Requests, Questions, or Suggestions? Let us know in the comments below.👇 While you do that, how about a boost for some motivation🚀 ⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
NSE:NIACL
by TheChartereds
2
INDIGO: A quick refueling is due??Okay, This one was requested by our newest follower @anurag3235 We are keeping the chart simple and self explanatory as always. Although, One important thing to know is that the public shareholding in Indigo is mere 2%. Confused on if you should invest? We have a post that will help you make up your mind. Direct link is below: What should we analyze next? Have Requests, Questions, or Suggestions? DM us or comment below.👇 ⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
NSE:INDIGO
by TheChartereds
4
LTTS: Beautiful Breakout But ...The chart should give you everything you need to know. But here are some pointers for those who like to read: - A beautiful Symmetric Triangle breakout. The support and resistance trendlines were religiously followed. Thus, making the pattern stronger. - The consolidation period was a good 15 months. Every IT company has gone through the pain. - We have defined support and resistance zones. The triangle breakout is good but is exactly near the Crucial resistance zone. - A break and sustenance of it will be crucial for the future upmove. - We have a 5000 psychological level sitting on the top as our first target - Nifty IT is also gearing up for some long-due momentum. This should give a push. What should we analyze next?? Have Requests, Questions, or Suggestions? Let us know in the comments below.👇 While you do that, how about a boost for some motivation🚀 ⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
NSE:LTTS
by TheChartereds
7
Very Powerful Comeback Candle sort of Bullish Harami.Nifty made a massive comeback today after the dust of election result settled. Whether NDA's comeback to power and can the Bull Run sustain is the key question. Both are interlinked as of now it seems. However on the technical grounds the formation on chart between yesterday and today's candle is a sort of Bullish Harami (Positive Candle formation). A positive candle formation in the next trading session will confirm the formation. Now the supports for Nifty are at 21261 (Father Line) and 200 EMA, 22139 (Mid channel support), 22413 (Mother Line) and 50 EMA and 22456. Resistances on the upper side for Nifty will be 22695, 22855, 23053, 23192 and finally 23338 (ATH Resistance).
NSE:NIFTYLong
by Happy_Candles_Investment
200 Days EMA comes to rescue of the market. 200 Days EMA comes to rescue of the market. Market which was shocked by the unexpected result was rescued by 200 days EMA today. You can see how it is supportive of Mother Father small child story that I propagate. PAPA line came to support of the falling market and there was a 603.05 points recovery. However the fall is 1379.4 points devastating fall. We can hope for a recovery if the levels of 21247 holds. However the most important resistance will be the MOTHER line of 21404. These two are the most important levels to track for this week and rest of the month. We can expect a recovery on announcement of a stable Government. Many stocks including PSU are coming near mouth watering levels with respect to Dividend yield. Other stocks which have nothing to do with result of the election have also taken a beating even though they were / are on a growth trajectory. So be wise and choose diamonds from the ruins.
NSE:NIFTY
by Happy_Candles_Investment
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NSE:NIFTY1!
by ReviveTraders
Nifty closing this week looks like Calm before the storm.FII, DII and Retail investors are all awaiting Exit Polls and Actual results of election to follow thereafter. We have already discussed the best and the worst case scenarios. The candle formed today is Doji exhibiting indecisiveness. The support at which Nifty is standing is Mid channel. The other support which has been taken is 50 days EMA. Right now everything looks in balance. Lot of overpriced stocks corrected. Lot of underpriced stocks which gave good results exceled. Many more underpriced Banking and IT stocks are looking like value buys. Many overvalued Psu stocks look like them might again run further in case of expected results. Everything looks like it is on a tipping point. + or - 5 to 10% move depending on results is a definite possibility. DIIs have been buying all the way. FIIs have been selling all the way. Perfect recipe for a thriller to unfold next week. Everything is on a standstill. This weekend might be a calm before the storm. Nifty Supports: 22392, 22057, 21827, 21712 and 21221. (Worst case scenario 17597 in case the expected results are not seen in election). Nifty Resistances: 22672, 22829, 23140, 23226 and 23398. (Best case scenario between 23500-23600).
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Enters crucial Support Zone. Nifty has entered Important support zone. This zone extends from 22495 to 22386. Today's low of 22417 is also a very important level below which we will have only the support level of 22386 which is the 50 days EMA. Below 22386 bears will try their best to drag the Index to the levels of 21712 or even 21208. (This looks improbable as of now but you never know). DII was buying even today in this drastic fall while FII are selling relentlessly. With only 1 day left before we will have exit polls and then the actual election results on 4th June. Investors should brace for a few more days of volatility. If the result go against popular opinion then we can see further lower levels which are mentioned above. RSI has taken a turn and Mid channel has provided a support as of today. Resistance on the upper side are 22508 and 22829.
NSE:NIFTY
by Happy_Candles_Investment
From where can we see a turnaround in Nifty?After making a new high there has been relentless bout of Profit booking seen in Nifty. Volatility index probably peaked at 26.145 on Monday. It has come down a bit today to 24.175 but still it is in not relenting. Many stocks and indices seem to be hitting the oversold zone but still there might be little more pain in store for the investors this week. Probable turnaround zone for Nifty or supports are at 22685. If 22685 today's low is broken tomorrow Nifty can fall further to 22495 region. The zone between 22495 and 22382 has many strong supports including 50 days EMA Mother line and Mid-channel support. If by any chance 22382 is broken Nifty can see further free fall as bears will take full control. In such an unlikely scenario next supports will be at 22057, 21827 or even 21712.(In highly unlikely case of results not coming in favour of the ruling party) Nifty can fall further to 21195 or below. In case Nifty turns around from 22685 or from the zone between 22495/22383 the next resistances will be at 22829, 22990, 23140. Top of the current trend and channel top seems to be near 23266 region. In case the ruling government comes with a sound majority without facing any hurdles we may even see Nifty breaking the channel top and might go towards 23350, 23500 or even 23600 region.
NSE:NIFTY
by Happy_Candles_Investment
1
Nifty Metal: An overviewThis is a quick one. The chart should tell you everything there is to know. We will keep updating the comments below as the price action unfolds. Have Requests, Questions, or Suggestions? Let us know in the comments below.👇 ⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
NSE:CNXMETAL
by TheChartereds
Consolidation and profit booking phase in Nifty. Nifty is seeing a consolidation and Profit booking phase after making a new All Time high. There was a massive pressure seen across indices. This phase and volatility which we have seen off late can continue for a while till election results are declared and a little bit post results too. FMCG and Pharma were the only 2 indices which withstood the selling pressure but broader markets were seen bleeding a bit specially the cash counters. Next one week or so will test the patience of investors and speculation should be avoided. Stay away from high risk counters and derivatives if you are not an expert. Support for Nifty can be seen near 22864 which is rather a weak support. Next support is near 22767 which is considerably strong support of 50 Hours EMA (Mother line). If 22767 is broken further support can be found only near 22602 and 22489. This zone is a strong support zone having mid channel support of the current channel and 200 hours EMA. Resistance on the upper side for Nifty are at 22937, 22999 and 23053. Above 23053 Nifty will become little strong and Bulls can further take the index to 23108 or 23150 levels which will be a strong channel top resistance.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Short, Medium, Long Term 28-May-24 to 31-May-24Nifty Short, Medium, Long Term 28-May-24 to 31-May-24 Nifty closed at 22932 (22466) and touched low & high of 22409 & 23022 RSI and stochastics levels was up from last week (66 % & 86% Respectively). Stochastic in over bought levels (>90%) on 26-May-24 and started reducing on 27-May-24 Anticipation in Political results lifted the market as exit poll started coming. As mentioned in the past 1.5 month, Post govt budget, current govt proposed 100 days plan will lead the market in coming days. Investment decision is mixed as market will be highly volatile due to the above factors. Hence those people have high risk can sell partial stocks and book profit, those have more money to invest can wait for small dips to invest. As far as my opinion, if market touching 24000 can book partial profit and can wait for market to correct as there is a strong resistance in that zone. Nifty 22932- Short & medium term (Neutral ) nifty reached the near term target 22819 (Fibonacci extended resistance target) again and crossed resistance decisively. Nifty at PE 21.5 below the Historical Average of 22.5 Short term support 22300-22400 Short Term Resistance : 23150 ( Trend Line as shown in chart) Medium term Support - 22160 ( Trend Line) and 20830 Fib Support as shown in the chart. Long Term Market expected range bound between 24000 ( Trend Line Resistance till Jun 2024) & Support at 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). All Companies so far posted results are average other than Bank & Finance stocks which posted Good results, IT posted muted growth, Maruti posted good results, Reliance, Ultratech posted good growth. Other manufacturing, capital goods companies results are awaited in coming weeks. Nifty bank 49456 (48199) - As proposed from 47250 level nifty bank jumped more than 7%. Investment decision in Nifty bank, bank stocks helped in portfolio. Still can continue to invest whenever dip in bank and other nbfc stocks. As insisted for last 3 months Banks & Finanace Stocks are really good and will give good results, as expected Q4 results are good especially for Axis Bank , Indusind bank ,ICICI Bank definitely can be added as portfolio stock. Kotak Bank ( after the fall due to RBI regulation can be added slowly whenever there is a dip), Bank of Maharasthra ( Buy on Dips) ,Canara bank( Buy on Dips) can be accumulated slowly as well. Following Finance Stocks can be added as it posted good results are Bajaj Finance, Bajaj Fin Serv, Manappuram Finance, suryoday small fin,Motilal Fin, Chola Finance, ICICI Securities. Other stocks like Dr Reddys, Natco Pharma, Cipla, JK Cements, Apollo tyres, Biocon, Coforge & persistent Sys can add these stocks to portfolio. Please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) Comments : Positive Lok Sabha Election result expectation, Global trend helped sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue govt post election without any additional support of other parties so that govt can be confident enough to take decisions. Hence whenever there is a dip in the market, continue to buy on small quantities till post election survey results are revealed on Jun1- Jun 3rd and Jun 4th Election results. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Nifty IT broke the Major support at 33350 and went down upto 32919. Nifty IT Stocks like TCS, Infosys, Wipro gave muted results in Q4 2024. Can be added for short rally as it fell sharply, however strictly for long term and also in portions slowly on each fall ( say 5-10% of total investment in IT stocks). Whenever there is such dips and new lows ( in the last 1 year) We can add slowly considering 2-3 years. It need to break above 38000 needed to further move up. Future of technology stocks are in high pressure due to AI as it is reflecting in US and Indian technology stocks. Especially Indian IT stocks is in a non decisive path and downtrend.ifty Short, Medium & Long Term View- 13-May-24 to 17-May-24 every dip of individual stocks (2-5% of portfolio on each purchase for long term)As mentioned in the past 1.5 month, nifty reached the near term target 22819 (Fibonacci extended resistance target) again and crossed the resistance decisively and touched 23000. Nifty at PE 21.8 below the 3 year Historical Average of 22.5.. Short term support 22312 (MA 50)- Nifty last week had a pause between 2220-22300/ 22050 ( Trend Line Support as shown) /21800 Medium term Support - 20877 Fib Support as shown in the chart. Long Term Market expected range bound between 24000 ( Trend Line Resistance till Jun 2024) & Support at 20225 / 20000 ( Fib Resistance),19500 expected in 2024. Q3 results are average except bank & Nbfc stocks, further up move will have target of 23150 ( Trend Line), 23500 ( Fib Resistance). All Companies so far posted results are average other than Bank & Finance stocks which posted Good results, IT posted muted growth, Maruti posted good results, Reliance, Ultratech posted good growth. Other manufacturing, capital goods companies results are awaited in coming weeks. Nifty bank 48199(47421) - Nifty bank tested trend line support 47000 last week and later part of the week. Many bank & Finance stocks are buyable zone. As insisted for last 3 months Banks & Finanace Stocks are really good and will give good results, as expected Q4 results are good especially for Axis Bank , Indusind bank ,ICICI Bank definitely can be added as portfolio stock. Kotak Bank ( after the fall due to RBI regulation can be added slowly whenever there is a dip), Bank of Maharasthra ( Buy on Dips) ,Canara bank( Buy on Dips) can be accumulated slowly as well. Following Finance Stocks can be added as it posted good results are Bajaj Finance, Bajaj Fin Serv, Manappuram Finance, suryoday small fin,Motilal Fin, Chola Finance, ICICI Securities. Other stocks like Dr Reddys, Natco Pharma, Cipla, JK Cements, Apollo tyres, Biocon, Coforge & persistent Sys can add these stocks to portfolio. Please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) Comments : Positive Lok Sabha Election result expectation, Global trend helped sustaining the market above 22000. Recent Electoral bonds, CAA implementation news couldnt make the market down as market is confident that current govt will win more than halfway mark, continue govt post election without any additional support of other parties so that govt can be confident enough to take decisions. Hence whenever there is a dip in the market, continue to buy on small quantities till post election survey results are revealed on Jun1- Jun 3rd and Jun 4th Election results. Hence market is in good buy whenever there is a dip. Post Elections, only way Market will start grow higher by reduction of interest rate by RBI on a staggered manner till it reaches 5%. US fed rate reduction also expected from Jun/ Sep 2024. Market may correct if any global news till 19500 as there is strong multiple fib support in this range. Nifty IT broke the Major support at 33350 and went down upto 32919. Nifty IT Stocks like TCS, Infosys, Wipro gave muted results in Q4 2024. Can be added for short rally as it fell sharply, however strictly for long term and also in portions slowly on each fall ( say 5-10% of total investment in IT stocks). Whenever there is such dips and new lows ( in the last 1 year) We can add slowly considering 2-3 years. It need to break above 38000 needed to further move up. Future of technology stocks are in high pressure due to AI as it is reflecting in US and Indian technology stocks. Especially Indian IT stocks is in a non decisive path and downtrend.ifty Short, Medium & Long Term View- 13-May-24 to 17-May-24 every dip of individual stocks (2-5% of portfolio on each purchase for long term)
NSE:NIFTY
by karthikss