Nifty Short , Medium & Long Term View-27-Nov-23 to 01-Dec-23Nifty Short , Medium & Long Term View-27-Nov-23 to 01-Dec-23
Nifty closed at 19794(19870) and touched low & high of 19671 & 19873
Last week Market was near to the resistance provided i.e 19856 level.
RSI and stochastics levels nearing the overbought zone.
Nifty- Short Term
Resistance at 19875(last week high), 19923( Fib Resistance), 19996 (Prev High Shown in Green Color)
supports at 19528 (Fib Resistance), 19365 (Fib Resistance), 19330 ( Prev.Low shown in Green Color)
Nifty Medium Term & long Term -
Market need to decisively close above 20000 to reach 20218( prev high) & 20500 target.
Resistance 20000/ 20200 ( Prev. HIgh)/ 20500
Support at 19228 ( Prev low).
Long Term
market range bound between 20500 to 18800 till elections are completed.
Oct 23 & NOv-23
Comment :
There will be up/down in india atleast till Mar Apr. 19800- 20500 it will be g it will raise up due to elections. Global Situations( War) still ongoing. crude pricehave recovered from steep and lowered to 80$.
Same thing happened in 2014, crude price trend, economy related issues till Pre poll survey-Election/ May 2014 and the crude fell after that drastically and economy of all countries started recovering, hence expect more volatality in markets till pre poll survey.
As far as results are concerned little average except banks. Companies are affected by interest rates and to move a notch above the sequential previous Quarter ( i.e results are flattening).
Q2 & Q3 Results Pre Budget in Feb and followed by q4 results also will give a path.
This also will lead to high volatality in coming weeks.
Market going to be highly volatile, please read the comments at bottom. As mentioned before ( past 1 month) continue to book 30% profit in the high valued stocks invest in value stocks.
Banks gave good results except HDFC bank due to merger. Capital Goods and other companies posted average to average results. most of the stock screening shows to buy banks and NBFCs. only few stocks from capital goods and other stocks are showing promising results. pharma stocks gave outstanding returns and it is just starting. Stock Pick based on the Q2 result and projected growth of the stock is necessary.
NIFTY
The Resistance zone of 19826 to 19877 stops the Nifty rallylast week we identified the zone between 19816 and 19877 as the critical résistance zone. This is exactly the zone which has stopped Nifty from growing further and going further the full week. For our march towards 20K+ levels closing above 19877 is very important. Last weeks estimations were based on hourly chart of Nifty. This week in the daily chart you can see that Nifty is squeezing within a triangle and can give a breakout on either side. From the looks of it the breakout might be on the upper side only but some unwanted event on the Global scale (New illness in China or some event that violates the probable ceasefire in Gaza) can taper the upward trajectory so one needs to be watchful. Nifty resistances same as last week are same the zone between 19817 to 19877. Post that the next resistance will be near 19984 and 20049. Supports on the lower side in case something major spoils the part will be 19702, 19581 and 19533.
Market Outlook for 24 Nov 2013"Good Morning Traders!
Market Update - 24th November 2023 📈🔍
Today's market outlook:
- Rangebound conditions persist.
- Exercise caution, avoid chasing breakouts.
- #GIFTNifty indicates a flat opening.
Critical Levels:
- #Nifty:
- Resistance at 19,857.
- Support at 19,657.
Important Note:
- Exercise prudence between these levels; we're in a no-trade zone.
- Don't chase breakouts, especially at this point in the month.
No stock-specific updates today.
Wishing you a profitable day ahead! 💹🌅
#MarketUpdate #TradingWisdom
8800611235
#NIFTY Intraday Support and Resistance Levels - 24/11/2023Nifty will be FLAT opening in today's session. After opening nifty start trading Above 19830 level and then possible upside rally up to 19950 in today's session. in case nifty trades below 19800 level then the downside target can go up to the 19680 level.
Nifty looking strong after taking mid-channel supportNifty looking strong after taking mid-channel support. Crossing the immediate resistance of 19826 and 19880 the Nifty is looking all set to gain all lost ground due to conflict in the Middle East. Next resistance for Nifty after crossing 19880 will be at 19984, 20049, 20148 and 20200+. Supports for Nifty on the lower side will be at Mid channel support that is today's low near 19703. If in future 19703 is broken the next supports will be at 19581 and 19511. Things are looking good with a very good Hammer candle to end the day.
#NIFTY Intraday Support and Resistance Levels - 23/11/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 19830 level and then possible upside rally up to 19950 in today's session. in case nifty trades below 19800 level then the downside target can go up to the 19680 level.
Review and Plan for 23rd November 2023 Nifty future and banknifty future analysis and intraday plan in kannada.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
#NIFTY Intraday Support and Resistance Levels - 22/11/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 19800 level and then possible upside rally up to 19920 in today's session. in case nifty trades below 19760 level then the downside target can go up to the 19640 level.
Nifty Facing Trend line Resistance but looking strong Nifty is facing trendline resistance zone between 19830 and 19875. Nifty today made a high of 19829 and closed blow 19800 at 19783. Looks like tomorrow again Nifty will try to close above the 19875. If it does we can see further rally till 19992 and 20100+ levels. However crossing this hurdle is little tough. It can become easy if Nifty opens gap up above the trendline resistance. If Nifty fails to cross the resistance the supports at lower level will be at 19751, 19667, 19584 and finally 19498. But overall scenario still remains positive despite the resistance.
Review and plan for 22nd November 2023Nifty future and banknifty future analysis and intraday plan
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
#NIFTY Intraday Support and Resistance Levels - 21/11/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 19710 level and then possible upside rally up to 19830 in today's session. in case nifty trades below 19670 level then the downside target can go up to the 19550 level.
Nifty in the support zone.Nifty right now is in a zone where it has multiple supports taking any of which it can start climbing again. The major support zone from the current level is 19667 to 19584. Below 19584 the major support for Nifty will be 50 days EMA (Mother Line) near 19487. Resistances on the upper side for spot nifty are near 19766, 19810, 19873 and 19992. Above 19992 Nifty can rise to 20051, 20116 and finally previous peak of 20222. So it might be a range bound few days till election results are announced.
Review & plan for 21st November 2023Nifty future and banknifty future analysis and intraday plan.
This video is for information/education purpose only. you are 100% responsible for any actions you take by reading/viewing this post.
please consult your financial advisor before taking any action.
----Vinaykumar hiremath, CMT
Nifty Short , Medium & Long Term View-20-Nov-23 to 24-Nov-23Nifty Short , Medium & Long Term View-20-Nov-23 to 24-Nov-23
Nifty closed at 9870 (19525) and touched low & high of 19413 & 19870
Market crossed the inclined resistance line provided at 19550 decisively and moving towards 19800-20000.
19528 Resistance and 19692 Fibonacci resistance provided worked well day before yday&yday.
Again if it crosses 20000 then 20500 is a big resistance as mentioned above.
RSI and stochastics levels nearing the overbought zone.
Nifty- Short Term
Resistance at 19856(Prev. High shown in red color line), 19923( Fib Resistance), 19996 (Prev High Shown in Green Color)
supports at 19528 (Fib Resistance), 19365 (Fib Resistance), 19330 ( Prev.Low shown in Green Color)
Nifty Medium Term & long Term -
Market need to decisively close above 20000 to reach 20500 target.
Resistance 20000/ 20200 ( Prev. HIgh)/ 20500
Support at 19228 ( Prev low).
Long Term
market range bound between 20500 to 18800 till elections are completed.
Oct 23 & NOv-23
Comment :
There will be up/down in india atleast till Mar Apr. 19800- 20500 it will be g it will raise up due to elections. Global Situations( War) still ongoing. crude pricehave recovered from steep and lowered to 80$.
Same thing happened in 2014, crude price trend, economy related issues till Pre poll survey-Election/ May 2014 and the crude fell after that drastically and economy of all countries started recovering, hence expect more volatality in markets till pre poll survey.
As far as results are concerned little average except banks. Companies are affected by interest rates and to move a notch above the sequential previous Quarter ( i.e results are flattening).
Q2 & Q3 Results Pre Budget in Feb and followed by q4 results also will give a path.
This also will lead to high volatality in coming weeks.
Market going to be highly volatile, please read the comments at bottom. As mentioned before ( past 1 month) continue to book 30% profit in the high valued stocks invest in value stocks.
Banks gave good results except HDFC bank due to merger. Capital Goods and other companies posted average to average results. most of the stock screening shows to buy banks and NBFCs. only few stocks from capital goods and other stocks are showing promising results. pharma stocks gave outstanding returns and it is just starting. Stock Pick based on the Q2 result and projected growth of the stock is necessary.
#NIFTY Intraday Support and Resistance Levels - 20/11/2023Nifty will be gap up opening in today's session. After opening nifty sustain above 19740 level and then possible upside rally up to 19860 in today's session. in case nifty trades below 19700 level then the downside target can go up to the 19580 level.
Nifty to Yo-Yo between supports and resistance this week.Nifty is trying to look for proper support to launch from and over come some important critical resistances. There are multiple supports for Nifty in the range of 19582 to 19667 Nifty can take support from any of these places and lunge forward. While going forward the resistances that Nifty might face are 19785, 19819 and 19873.
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MUST BUY & Hold for 5 to 10 years time frame.
The stock price is expected to rally 10 times from current levels.
#NIFTY Intraday Support and Resistance Levels - 17/11/2023Nifty will be gap down opening in today's session. After opening nifty start trading below 19720 level and then possible downside rally up to 19600 in today's session. in case nifty trades above 19770 level then the upside target can go up to the 19890 level.
Nifty Faced Channel top resistance on an Hourly chartNifty retreated sfitly from top of yesterday that was 19875 to close the day at 19765 because it faced the channel top resistance as seen in the chart. This zone between 19816 to 19877 will be tough to conquer however Nifty will make an attempt again to close the week on a high. supports on the lower side for Nifty remain at 19714, 19627 and 19571 (Mid channel Support). Below 19571 the stock can fall to 19527 or 19453 which is a 50 and 200 EMA on hourly chart respectively. Crossing and closing above 19877 will open the gates towards 20K again.