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NIFTY

Two important Resistances to conquer for Nifty ahead. There are 2 important resistances for Nifty ahead which need to be conquered for the Bull run that started post budget to sustain. These 2 resistances are at 23630 and 23809. Today Nifty made a good comeback from lows of the day which was near 23556 to close at 23603. The resistnace near 23809 acted again as Nifty plummeted from the level of 23773 to fall to 23556. The trend line shown in the chart acted as support for Nifty to come back into the game. There are 3 important events coming up later. RBI Policy where market is expecting a rate cur. Delhi election results and finally Income tax bill to be tabled in the parliament. Market is fearing a little bit and hoping that there is no bad news related to LTCG or STCG etc. in the bill. Nifty supports remain at: 23556, 23498 and 23484 (Mother and Father line of the daily chart). If this line is broken we can see Nifty falling to old support system of 23376 and 23222. Closing below 23222 can bring the Bears back into the game and calling the shots again. Nifty Resistances remain at: 23630 and 23809. If these to resistances are conquered we can a strong up move towards 24K level with resistances at 23991, 24197 and 24344 level. Above 24344 level Bulls will come out of ICU and start taking control of the system. Shadow of the candle right now is absolutely neutral. Tomorrows closing will be very important a closing above 23630 will be good but closing above 23809 will be great. Similarly a closing below 23556 will make the market weak. Nicely balanced right now. 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. 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.
NSE:NIFTY
by Happy_Candles_Investment
Nifty tried to consolidate today after the BO yesterday. Nifty did well to consolidate and end above 50 and 200 days EMA today Nifty closed at 23696 and the Mother and Father lines are at 23664 and 23620 respectively. These Two lines will continue to act as support for the coming days and sessions. Nifty faced a very stiff resistance today as expected near 23800. It will not be easy to cross this resistance. This was made clear by us in earlier messages. Exit poll results, followed by RBI rate cut followed by actual Delhi state election results in favour of market expectation can lead to a positive sentiment build up and these levels can be taken down and Nifty can even regain 24K levels in the coming time. Nifty supports remain at: 23664 (Mother line), 23620 (Father Line), 23346 and 23222. Below 23222 weekly closing Nifty will become very bearish. Nifty Resistances remain at: 23809, 23883, 23984 24108 and finally 24197. Above 24197 Weekly closing Nifty will become very bullish. 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. 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.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Intraday Support & Resistance Levels for 05.02.2025Tuesday’s session was strong for Nifty, as it opened with a 149-point gap-up, made a low of 23,423.15, and surged to a high of 23,762.75, entering deep into the Daily Supply Zone. It finally closed at 23,739.25, gaining 378 points over the previous close. The Weekly & Daily Trend (50 SMA) remain sideways. Demand/Support Zones Near Demand/Support Zone (75m): 23,327 - 23,381.60 Near Demand/Support Zone (15m): 23,141 - 23,205.70 Far Demand/Support Zone (30m): 22,786.90 - 22,843.30 Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 (Tested) Far Support Level: 21,281.45 (Low of 4th June 2024) Supply/Resistance Zones Near Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20 (Current price is deep inside the zone) Near Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Far Supply/Resistance Zone (Daily): 24,601.75 - 24,782.15 Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30 Outlook After taking support at the Daily Demand Zone on 27th January, Nifty has already rallied 975 points (22,857 to 23,762). However, the Weekly & Daily Trend (50 SMA) remains sideways. To break the lower high - lower low structure, Nifty must sustain above 24,250 in the coming days.
NSE:NIFTY
by PriteshPalan
Superb closing above Mother and Father Line Resistance. We had a very good closing today by Nifty at 23739 which is above Mother and Father line of resistance but there is a trendline resistance now at 23745 which Nifty was not able to cross today after briefly hovering above it as it made a high of 23762. The next resistances in line for Nifty if it is able to cross 23745 swiftly will be at 23883 and 24108. Closing above 24108 can bring the Bulls back into the game and take us to the next resistances at 24281, 24596, 24898 and finally 25K+ levels. Supports for Nifty are at 23663 (Mother Line support), 23619 (Father line support), 23421 and 23222. Below 23222 Nifty will become weak again and in such a scenario Nifty can fall to below 23K levels of 22976, 22797 or even 22316. 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. 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.
NSE:NIFTYLong
by Happy_Candles_Investment
Global Markets crack fearing Trump Tariff plans.Global markets cracked downwards today fearing the tariff imposed by the new Government in US. The action has strengthened already strong USD$ as US is trying to flex it's financial muscle. How long this strength in USD can sustain is a question as it is looking far away from support having given an ATH against Rupee. The Tariffs as of now have been imposed by US on Canada, Mexico and China but other countries can also receive a similar treatment including India. So that space has to be watched continuously. Under such global perfect storm Nifty actually did pretty well to close at 23361 after making a low of 23222 which is a remarkable 139 points recovery. This might be due to the Budget announcements. There is also a talk that RBI might go for a rate cut. This can further give some strength of Financial and Banking and some other stocks. Global factors and FII selling are the main issues along with strength of Dollar that are hampering the Indian market. The results so far have been below par compared YonY but better than some market experts expectation. So even on that front it is a mixed bag. Supports for Nifty are at: 23222, 23136 and 22976. If we get a closing below 22976 Nifty can fall in a total Bear territory and fall further to 22797, 22316 or further down. Resistances for Nifty are at: 23381, 23555, 23618 (Father Line Resistance), 23660 is the (Mother line Resistance). After we get a weekly closing above 23660 we can think of getting back to the more bullish territory of 23745, 23883 and finally 24K+ zone. Shadow of the candle right now seems to be neutral to negative. 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. 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.
NSE:NIFTY
by Happy_Candles_Investment
1
Nifty Intraday Support & Resistance Levels for 03.02.2025Saturday’s special trading session saw Nifty opening flat and rallying to 23,632.45, just missing the 75m Supply/Resistance Zone (23,645.05 - 23,726.85) before facing selling pressure and dropping to a day low of 23,318.30. It later recovered slightly, closing at 23,482.15, down 26 points from the previous close. Both Weekly and Daily Trends (50 SMA) remain sideways, indicating a consolidating market. Demand/Support Zones Near Demand/Support Zone (15m): 23,141 - 23,205.70 Near Demand/Support Zone (30m): 22,786.90 - 22,843.30 Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 (Tested) Far Support Level: 21,281.45 (Low from 4th June 2024) Supply/Resistance Zones Near Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20 (Tested) Far Supply/Resistance Zone (75m): 23,645.05 - 23,726.85 Far Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Far Supply/Resistance Zone (Daily): 24,601.75 - 24,782.15 Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30 Outlook With Nifty hovering near key resistance levels, watch for breakouts or reversals in the coming sessions. A move above the 75m Supply Zone (23,645 - 23,726) could trigger further upside, while a failure to sustain may lead to a retest of lower support zones.
NSE:NIFTY
by PriteshPalan
Nifty Support & Resistance Levels for Budget Day 01.02.2025Friday’s session saw strong bullish momentum, with Nifty opening positive, making a day low of 23,277.40, and rallying to a high of 23,546.80 by the end of the session, entering the Daily Supply/Resistance Zone (23,496.15 - 23,795.20). The index closed at 23,508.40, gaining 259 points over the previous close. The Weekly and Daily Trends (50 SMA) are now sideways, indicating a potential shift in market sentiment. Demand/Support Zones Near Demand/Support Zone (15m): 23,141 - 23,205.70 Near Demand/Support Zone (30m): 22,786.90 - 22,843.30 Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 (Tested) Far Support Level: 21,281.45 (Low from 4th June 2024) Supply/Resistance Zones Near Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20 Far Supply/Resistance Zone (75m): 23,645.05 - 23,726.85 Far Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Far Supply/Resistance Zone (Daily): 24,601.75 - 24,782.15 Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30 Outlook With the Union Budget 2025 being presented in Parliament, expect heightened volatility during Saturday’s special trading session on 1st February. For intraday trading, focus on higher time frame zones (75m, Daily, Weekly) rather than lower time frames (30m, 15m, 5m) for better clarity and reduced noise.
NSE:NIFTY
by PriteshPalan
Superb weekly closing with Bullish Engulfing candle by Nifty. Superb weekly closing at 23508 with a closing above 50 Weeks EMA (Mother line) which was at 23423. This came along with Bullish Engulfing candle by Nifty now all eyes on Nirmalaji (Indian FM) to deliver a great budget and turnaround this bullish candle into a proper Bull rally. Now the only thing that can stop us and fizzle the rally would be a dank budget. Supports for Nifty remain at 23136 and 22838. Below 22838 the rally can fizzle out into the bear territory again. In such a scenario Bears can drag Nifty further down to 22316, 21869. Below 21869 major support will be near 200 Weeks EMA at 19578. Historical resistances for Nifty based on previous Peaks and Valleys can be at 23883 (Trend line resistance), 24281 and 24904. After getting a closing above 24904 market can think of regaining 25K or even 26K levels. RSI is entering the Bull Zone as well with closing this week at 45.60. RSI Resistance is at 47.49 that is something to look at. 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. 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.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Intraday Support & Resistance Levels for 31.01.2025Thursday’s session was marked by high volatility, with Nifty opening flat and making an initial low of 23,139.40. A strong rally took it to 23,311.15, where it entered the 15m Supply Zone (23,288.75 - 23,331.30), but selling pressure dragged it back to 23,141. The index then rebounded to a day high of 23,322.05 before closing at 23,249.50, gaining 86 points over the previous close. Both the Weekly Trend (50 SMA) is Negative to sideways and Daily Trend (50 SMA) remain Negative, indicating a cautious outlook. Demand/Support Zones Near Demand/Support Zone (15m): 23,141 - 23,205.70 Near Demand/Support Zone (30m): 22,786.90 - 22,843.30 Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 Far Support Level: 21,281.45 (Low from 4th June 2024) Supply/Resistance Zones Near Supply/Resistance Zone (5m): 23,349.20 - 23,421.25 Near Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20 Far Supply/Resistance Zone (75m): 23,645.05 - 23,726.85 Far Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Far Supply/Resistance Zone (Daily): 24,601.75 - 24,782.15 Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30 Outlook Nifty is testing critical resistance levels while facing persistent selling pressure at higher zones. A break above 23,350 could push it towards 23,500+, while failure to hold support at 23,141 may lead to a retest of lower levels.
NSE:NIFTY
by PriteshPalan
Nifty trying to stage a comeback but important hurdles coming upNifty is trying to stage a comeback but there are important hurdles coming up 23328 and 23883 has a lot of obstacles for the rising Nifty based on the historical data. (Historical meaning the data which is At Least 3 months or older). The important resistances for Nifty here are 23328 (June 24 peak) followed by Father line resistance (200 day's EMA on daily chart at 23623.). The mother line resistance (50 day's EMA) which is at 23687. After we get a closing above this zone the next resistance will be near 23883. Once we get a closing above 23883 we can think of gaining back 24K levels. Supports for Nifty now remain at 22838, 22316 and 21869 which is near the lows of June 4th 2024. Shadow of the candle is currently positive but near the resistances mentioned earlier there can be pressure on Nifty. 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. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. This is a spot Nifty analysis based on Historical data as mentioned earlier. 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.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Intraday Support & Resistance Levels for 30.01.2025On Wednesday, Nifty opened with a gap-up, showing strong buying momentum. It made a low of 22,976.50, attempted a rally to 23,125.85, but faced resistance at the 5m Supply Zone (23,118.05 - 23,137.95), leading to a pullback near 22,984. However, buyers stepped in again, pushing Nifty to a high of 23,183.35 before closing at 23,163.10, gaining 205 points over the previous close. The Weekly Trend (50 SMA) and the Daily Trend (50 SMA) remains Negative, indicating caution despite the recovery. Demand/Support Zones Near Demand/Support Zone (30m): 22,786.90 - 22,843.30 Near Demand/Support Zone (Daily): 21,791.95 - 22,910.15 Far Support Level: 21,281.45 (Low from 4th June 2024) Supply/Resistance Zones Near Supply/Resistance Zone (15m): 23,288.75 - 23,331.30 Near Supply/Resistance Zone (5m): 23,349.20 - 23,421.25 Far Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20 Far Supply/Resistance Zone (75m): 23,645.05 - 23,726.85 Far Supply/Resistance Zone (Daily): 23,976.00 - 24,196.45 Outlook Nifty’s price action suggests strong resistance around 23,180 - 23,330, where supply zones could limit further upside. On the downside, support near 22,900 will be key for bulls. With the Budget 2025 nearing, markets could witness increased volatility in the upcoming sessions.
NSE:NIFTY
by PriteshPalan
Bulls Make a major counter attack to Pull Nifty upwards. Today the Bulls fought back very well and against all odds were able to close Nifty much above Mother line of hourly chart. Nifty closed at 23163 and the Mother line support now is at 23108. If Bulls are able to keep Nifty aflot above this level and drive it higher they will have potential to make a come back into the game which was dominated one-sidedly by Bears since a long time. Not only Nifty we saw Mid and Small cap index also fight back today. The negative observation is that there is a trendline resistance just near today's high as you can see in the chart at 23183. So closing much above that level tomorrow will be really helpful. The supports for Nifty now remain at: 23108 (Mother Line Major support), 23032, 22919, 22776 (Major trend line support), 22465 and 22100 will be the channel Bottom support. The Resistances for Nifty now will be at: 23183 (Major Trend line resistance), 23354, 23465 (Major Father line Resistance of 200 hours EMA), 23542, 23726, 23892 (Major Channel top resistance). If channel top resistance is broken in the current rally Bulls will be back in the game and can drag the index further upwards towards 24060 and 24226. Above 24226 monthly closing there is Nifty landing again in Pure Bull territory. Good come back by bulls. Shadow of the candle now is neutral but it can become positive if we get a closing above 23183 tomorrow. 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. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. I or my clients might have positions in the stocks that we mention in our 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.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Intraday Support & Resistance Levels for 29.01.2025On Tuesday, Nifty opened with a gap-up, reflecting initial bullish sentiment. It made a low of 22,857.65 and rallied to a high of 23,137.95, breaking above the 15m Supply Zone. However, the momentum was short-lived as it retraced to close at 22,957.25, gaining 128 points over the previous close. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain Negative. Demand/Support Zones Near Demand/Support Zone (30m): 22,786.90 - 22,843.30 Near Demand/Support Zone (Daily): 21,791.95 - 22,910.15 Far Support Level: 21,281.45 (low from 4th June 2024) Supply/Resistance Zones Near Supply/Resistance Zone (5m): 23,118.05 - 23,137.95 Near Supply/Resistance Zone (15m): 23,288.75 - 23,331.30 Near Supply/Resistance Zone (5m): 23,349.20 - 23,421.25 Far Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20 Far Supply/Resistance Zone (75m): 23,645.05 - 23,726.85 Far Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Far Supply/Resistance Zone (Daily): 24,601.75 - 24,782.15 Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30 Outlook Nifty's failure to sustain above the 15m Supply Zone near 23,137.95 indicates ongoing selling pressure. The 22,800 - 23,000 range remains crucial as a support zone, while resistance near 23,300 - 23,500 could cap further upside. With both trends still Negative, coupled with looming market volatility ahead of Budget 2025, caution is key.
NSE:NIFTY
by PriteshPalan