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Nifty50

NIFTY Facing Mid-Channel Resistance. Nifty is currently facing mid-channel resistance drawn on hourly candles chart. Taking support at the channel bottom Nifty rose today but was stopped by the mid channel line. Supports for Nifty remain at: 18267, 18240, 18206 and finally 18119. Below 18119 the major support will be 200 hours EMA at 18018. Resistances for Nifty will be at: 18341, 18389 and finally 18450 which will be a major resistance. Above 18450 the channel towards 18600 opens up.
NSE:NIFTYLong
by Happy_Candles_Investment
Soft Landing of Nifty after Karnataka Election Results. Nifty made a soft landing after Karnataka Election results. Despite Global markets performing well Nifty had a subdued week. After starting the week well, the rally simply could not sustain the upper levels and continued to slide. Bollinger Band and Daily chart technical analysis shows Friday low of 18060 and 18107.5 as strong support for Spot Nifty. Below these levels if 18060 broken Nifty can slide further to 17873 and 17636. The zone between 17636 and 17675 is strong support buffer zone. Resistance on the upper side will be at 18293, 18458 and 18539.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty50 Analysis: 2023.05.19Medium term view (no short term): - It looks like Nifty50 is forming a leading diagonal as part of wave a (yellow line). - Currently it may be into wave iv of wave a. - For this set up to be true, Nifty must reach around 18200 to mark the end of wave iv and from there retrace to form wave v of wave a. The entire wave a should complete around 18000. - After completion of wave a, Nifty should touch around 18180 - 18230 to complete Wave b. - After completion of Wave b, it should all fall down to the level of 17850-17800, which is also 38.2% retracement of entire impulse since previous bottom of 16828.
NSE:NIFTYShort
by MalayKJ
Nifty took support near 18115 and is trying to bounce from thereNifty took support near 18115 and is trying to bounce from there on the way up 18235 to 18270 zone which wich was a great support will prove to be a strong resistance. If that hurdle is crossed Nifty can travel back to 18308, 18346 and 18384 or even 18400+ staging a V-shaped recovery. Before that happens it is important to cross 18235 to 18270 zone. Supports at the lower side will be near today's low that is 18115, 18040 and finally 17972. Weekly closing below 17972 will bring smile on the face of bears. In case that happens.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty preceisely stopped at the indicated resistances yesterday.What was depicted yesterday was very similar to what happened. Channel top proved to be a tough resistance to conquer and Nifty today rested just above mid channel line at18286.50 We had very accurately indicated the support at 18284. This is as precise as you can get with Technicals😌😊. Now What? We have this support or the next support at 18267. If 18267 is taken down we can further fall to 18190 or 18140. (Next support levels.). You can also see in the previous and current chart that invariably Mid channel line has proven to be support and NIFTY has bounced from here 4 times previously. So Let us hope we get a support from mid channel line and we can bounce from here. If we bounce from here next resistance will be 18340 and 18384. Interesting day tomorrow to see in which direction the NIFTY goes.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Flowing confidently in the 30 minute channel. Nifty on a 30-minute chart is looking very confident of staying in the upper half of the channel in which it is travelling. On last 3 occasions Nifty has jumped upon reaching the mid channel support of the mid channel line. Indicating that strength of the rally is intact so far. However, on the last 4 occasions when Nifty tried to cross the Channel top it was made to retreat indicating a strong channel top resistance. Nifty Resistances going further will be: 18455 and 18500. Nifty Supports going further will be at: 18384, 18284, 18267 (Very Strong Support).
NSE:NIFTYLong
by Happy_Candles_Investment