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Nifty 50 analysis for coming week for 12th August to 16th AugustThis chart of the Nifty 50 Index on a 15 minute timeframe includes a Rising Wedge pattern and highlights several key levels and potential price movements. Here's the analysis: Key Levels: Immediate Resistance Levels: 24,516: A potential breakout point above which the index might move higher. 24,837: Another significant resistance level to watch if the price moves upward. 25,000: Key psychological and resistance levels that could be tested if the bullish momentum continues. 25,100: The upper target for a strong bullish move. Support Levels: 24,385 (PW-VAH): Previous Week Value Area High, acting as a support zone. 24,265 - 24,228 (PM-POC): Previous Month Point of Control, an area where the price might find support. 24,140 (PM-VAL): Previous Month Value Area Low, a crucial support level. 24,000: A key psychological support level, also indicated on the chart. 23,920, 23,809, 23,681, and 23,595: These are lower support levels, potentially in play if the price breaks below 24,000. Chart Patterns: Rising Wedge: A bearish pattern that suggests the price might break downwards after consolidating. It is currently testing the upper boundary of this pattern. Predicted Movements: Bullish Scenario: If the price breaks above 24,516, it could move towards the 24,837 level. Further upward movement could target 25,000, 25,057, and possibly 25,100 if the bullish momentum is strong. The green arrows indicate the possible upward targets. Bearish Scenario: If the price fails to break above 24,516 and starts to break down from the Rising Wedge, it could retest lower levels like 24,385, 24,265, and 24,228. A significant break below 24,000 could lead to further downside, targeting 23,920, 23,809, 23,681, and 23,595. The red arrows indicate the possible downward targets. Conclusion: Upside Potential: A breakout above 24,516 could lead to a test of higher levels up to 25,100. Downside Risk: A break below 24,000 could initiate a stronger bearish move, targeting the lower support levels. The movement will likely depend on how the price reacts around the 24,516 level and whether it breaks the Rising Wedge pattern upwards or downwards.
NSE:NIFTY
by Nivesh_Labs
#nifty50 analysis for upcoming week 12-16th Aug 2024The Nifty index concluded the week at 24,367, shedding 350 points from the previous close. The index touched a high of 24,419 and a low of 23,893. A global market downturn, ignited by the unwinding of yen-funded positions, sent shockwaves through financial markets worldwide. Looking ahead, the Nifty is projected to oscillate between 25,150-23,800. A breach below the crucial 23,800 support could trigger a deeper correction towards 23,500. On the upside, 24,700 is a key resistance level to watch, representing a potential gap fill. Short-term chart patterns hint at a bullish reversal, supported by the positive outlook on weekly and monthly timeframes. Also remember next week is truncated due to 15th Aug holiday so it will be a 4 day week for Indian markets. The S&P 500 found support near the DEMA 200. To sustain its upward momentum, the index must hold above 5,400, opening the door to potential targets at 5,433, 5,500, and 5,566. Conversely, a dip below 5,233 could reignite the downtrend, with support levels at 5,180, 5,088 (DEMA 200), and 5,016 exerting downward pressure on global markets. Prepare for continued market volatility.
NSE:NIFTY
by ssudhirsharma11
Mother line yet again supports and zone 24340 to 24382 resists.Mother line yet again comes to rescue of Nifty after the zone between 24340 and 24382 stops the growth of Nifty yet again. Once this zone is crossed only then Bulls can breath easily. Trend line resistance has also come into effect with absolutely no room for Nifty to go. So there should be a breakout in Nifty in either direction tomorrow. Shadows of the candles are green and positive due to the mother line support at 23983. So hopefully the breakout should be on the positive side. Resistance levels 24340, 24382, 24584 and 24714. The supports on the lower side are 24075, 23983 and 23673.
NSE:NIFTYLong
by Happy_Candles_Investment
Good bounce back by Nifty after Mother Line confirms support. Good bounce back by Nifty after Mother Line confirms support. But we are still not out of the woods as there is a resistance zone near high of the today that is 24337 and 24382. (This is the resistance created by the gap down opening on 5th August. The starting and ending point of Such massive gaps always acts as a resistance zone while going up. The best way to cross this resistance will be a gap up opening. 24483 is another point which was the starting of this gap which will also act as a resistance on the way up. Once that is crossed we can look forward to reaching the next resistance levels of 24584 and 24714. Supports on the lower side for Nifty are at 24183, 24075 and 23978 (Mother Line 50 day's EMA). Below this level only two supports remaining will be 23912 and 23673. We can again be in this unlikely zone as of now only if there is some major bad news overnight otherwise shadow of the candles is looking positive. 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. 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. 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.
NSE:NIFTY
by Happy_Candles_Investment
Mother line again came to rescue Nifty but can it hold?Mother line or 50 days EMA again comes to rescue of Nifty today. There was a huge selling pressure when the Nifty reached day's high that is 24382. Market has closed at 23992 and the 50 days EMA is at 23965. As of now 50 days EMA is respected but the mood seems to be sell on rise so the support is becoming weaker. If 50 days EMA or Mother line is broken on closing during the reminder of the week. There can be increased pressure on Bulls as Bears will try to explore further supports. Supports for Nifty as of now seem to be at 23965 (Important Mother line support 50 day's EMA), 23673 and 23362. The zone between 22788 and 22259 is very important as of now. 22259 is 200 day's EMA or father line support, 22641 is the channel bottom support and 22788 is an important support of bottom of the big candle formed on 7th June. Resistance for Nifty remain at zone between 22214 and today's high of 22384. If you want to know more about Mother father and small child story and how 50 and 200 day's EMA play the role of mother and father you need to read the book The Happy Candles Way to wealth creation written by me and available on Amazon in Kindle and Paperback version. This will be a big resistance to cross as above it is gap formed by gap down opening of 5th August. If this gap is crossed the next resistance will be at 24714. Shadow of the candles is red still. RSI 40 and Mother line saved the day today let us see if these levels can hold. If these levels are held upside is possible. 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. 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. 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.
NSE:NIFTY
by Happy_Candles_Investment
Mother Line comes to rescue for the Nifty today but can it hold?Mother Line or the 50 days EMA comes to rescue for the Nifty today but can it hold? It looks little difficult due to the global Bear onslaught. In such situations we know from the Father, Mother and the small Child story that mostly Father line of 200 days EMA can provide proper support. However before we reach there and not necessarily we reach there as there are some important supports for Nifty. The other supports for Nifty from where it can potentially make a turnaround seem to be at: 23963 (Mother Line provides support again / Support confirmation), 23673 is the mid channel support, 22788 to 22641 is also a good support zone. Below 22641 we have Father line support at 22242. Final support for Nifty is 21879. Resistances on the upper side are now at 24214, 24342 and 24714. Shadow of the candles are still dark red. To know more about the father, mother and small child story read my book The Happy Candles Way to wealth creation available on Amazon in Paperback and E-book version. 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. 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. 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.
NSE:NIFTY
by Happy_Candles_Investment
#Nifty50 analysis for upcoming week 5th-9th Aug 2024#Nifty50 stumbled this week, closing at 24717, a 110-point drop from the previous week. While it danced between 25078 and 24686, staying true to its predicted 25400-24300 range, underlying daily chart weakness is undeniable. Yet, the weekly and monthly perspectives remain bullish. Expect Nifty to continue its tightrope walk between 25000 and 24400 next week. A breakout on either side could ignite significant volatility. A potential support level of 24400 might be a sweet spot for new long positions. However, the looming RBI policy announcement on August 8th could trigger another selling wave. Until then, cautious optimism and controlled positions are key. Meanwhile, the S&P500 experienced a 5% correction from its 5566 peak, finding support at the WEMA21 level of 5300. If this support holds, a fresh upward rally towards 5400, 5433, 5500, or even 5566 could be on the cards, potentially buoying Indian markets. Let me know your views in the comments section. thanks for reading
NSE:NIFTY
by ssudhirsharma11
Major Global Events unfolding. Be Alert!Major Global Event 1): Conflict in the Middle East is heating up with possibility of direct conflict between Iran and Israel increasing by every hour. Major Global Event 2): Japan has increased the interest rate by 0.25%. This is just the second hike in 17 years. Now US FED increases or decreases rates to control and Monitor inflation this happens and it has global consequences. Similarly Bank of Japan's move is huge. The money that Japanese investors were investing (And Japan has big investors) was almost at 0 to negligible interest rate. Now there is a possibility that they sell big across the globe. Consequences on Indian Market: India is in much better position to tackle these events economically but still we can not be immune to such events of mass scale. There is a very big chance of temporary effect on Indian indices. Over the long run these uncertainties will have less effect. In the medium to long run India is a bull market and will remain so. Panic selling should be avoided but keep your stop losses in place to protect the capital. Keep Trailing stop losses in place to guard your profits. Cash and money in hand is also a good position sometimes in the market. Nifty Supports Remain at: 24407, 23960 is the 50 Days EMA or mother line, 23283 and 22224 is the 200 days EMA or Father line. Below this line Bears can absolutely over power Bulls. Final Support For Nifty will be at 21879. Nifty Resistances remain at: 24904, 25037 and recent high of 25078. This message is not to instill fear or knee jerk reaction but it aims to make you conscious about the Macro events that can affect your portfolio. 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. 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. 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.
NSE:NIFTY
by Happy_Candles_Investment
As mentioned yesterday Profit Booking was seen post new High. As we had discussed in yesterday's message after making a new high of 25078 there was strong profit booking in many stocks specially Mid, Small and Micro caps. Market breadth turned negative with 784 advances Vs 1588 declines. This is a natural phenomenon and we cant surely say how long the profit booking can go on. Nifty actually did well to close above 25K at 25010. 25037 was mentioned as a strong resistnace. Nifty momentarily went above it but could not sustain the levels. Nifty made a low of 24956 and bounced back. We had again indicated that 24957 was a good support. (yesterday's Message). Same level is the key as Nifty can again try to confirm it's bottom for consolidation. In case 24957 is it's temporary bottom Nifty can rise further and again take an aim at closing above previous high of 25078. Supports for Nifty remain at 24957, 24887 and the zone between 24833 and 24806(Mother line). If we get a closing below 24806, 24773 or 24661 might come in play. Resistances for Nifty remain at 25037, 25078 and 25116. 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. 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. 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.
NSE:NIFTY
by Happy_Candles_Investment
Good Positive move by Nifty today trying to clear deck for 25K.Good Positive move by Nifty today trying to clear deck for 25K. Nifty right now is in no mood to stop but traders and investors should be very clear with the stop losses and Trailing stop losses as we have seen that when a new Peak or significant Psychological target is achieved there can be a bout of profit booking. Nifty may again dive downwards to find and confirm it's significant support. Investors should keep this in mind. Supports For Nifty right now seem to be near: 24942, 24887, 24833, 24773, 24741 (Very important Mother Line Support of 50 hour's EMA), below Mother line we have mid channel support at 24661. Below 24661 bears can awaken from coma and have potential drag the nifty till 24496 or even 24375. The final support zone for Nifty is between Father line (200 Hour's EMA) at 24282 and Channel bottom near 24250. Below 24250 can be pure bear territory. Resistances for Nifty remain at: Zone near previous high between 24985 to 24999 crossing which the next resistance will be near 25037. If we get a closing above 25037 Nifty can reach 25116. Major trend top as well as channel top seems to be between 25174 to 25200 range. Trade and invest with caution. Stoplosses are our friends which protect our capital. Trailing stop losses are our best friends which protect our Profits. To know more about Mother Father line and their significance and to learn Techno Funda analysis we recommend you read the book The Happy Candles Way. Which is available on Amazon on paperback version. Kindle version of the same book is also available on Amazon Kindle. 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. 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. 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.
NSE:NIFTY
by Happy_Candles_Investment
Nifty again tried to conquer 25K but unsuccessful Nifty again today tried to conquer 25K but fell short and reversed from 24971. Twice unable to conquer 25K has formed a temporary Double top type structure indicating weakness not massive but just a little bit. Weakness can creep in if the 24833 and 24773 are broken. Resistances on the upper side remain at 24887, 24957, 24999 and 25037. If 24773 is broken Nifty becomes meaker and then the supports remain at 24676 (Mother Line or 50 EMA Support). 24599 will be the mid channel support. Below 24599 the major supports will be at 24496, 24375 and 24234 (200 EMA support or Father line support.) Below 24234 Bears will totally try to dominate the proceeding.
NSE:NIFTY
by Happy_Candles_Investment
24773 is a critical support to watch going forward. 24773 is a critical support to watch going forward. If that support is not broken tomorrow or later this week we can see upside once again with resistances at 24871, 24957, 24999 (today's high) and finally 25037. Supports at the lower side are at as mentioned 24773, 24661, 24606 (50 hour's EMA (Mother Line) merging with Mid channel support. Making this support as another major critical support after 24773. Below 24606 bears will get back to business and can further drag the Nifty to 24496 or even 24375. The rally can turn around and loose steam completely if we get a closing below the final support zone of 24218 and 24186(200 hour's EMA father line). Channel bottom is also round about that area.
NSE:NIFTY
by Happy_Candles_Investment
Fibonacci sequence drawn on recent peak/bottom shows upsideThe Fibonacci sequence when drawn on recent peak and valley is showing a decent upside still if a major trend line resistance near 24967 is crossed and we get a closing above it. In such a scenario the peak of the current up trend seems to be near 25593. We have got a decent closing above an important fibonacci level of 24707. This becomes an important support now. Below 24707 the significant support levels are 24091, 23931, 23757 (50 days EMA, Mother line)(Read my book The Happy Candles Way available on Amazon to understand more about the Mother father and the small child concept/story.) If we get a closing below 23757, 23400 and 22814 are major support before we hit 200 day EMA or father line at 22088(Below which Bears will be in full power but we are far away from that zone as of now).
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY Pre - Budget Surge : Caution Ahead...!Hello Traders, I hope you are all thriving both in your trading endeavors and in life. Today, I bring you an exciting opportunity with a new analysis of NIFTY that's poised for a significant move. Our in-depth analysis reveals that... NSE:NIFTY As anticipated and previously mentioned, the past week ended on a negative note (pre-Budget). This week holds the potential for new highs. However, caution is advised, as this will likely be the final move in the sequence that began on October 23, 2023. It is prudent to brace for an impending correction. Here are the technical details: I. Resistance I: 24,854.80 ~ 24,910 (conj. Extended trend line from March 20, 2023) II. Resistance II: 25,120 (Extended trend line from June 1, 2022) III. Resistance III: 25,460 (Extended trend line from January 24,2024). ***Please note that these values are not actual but indicative levels of support and resistance. A Gann ideology is that , the move from October 26, 2023 is also facing a time resistance of 270 days (90*3) which is an important number not to consider it lightly. Furthermore, for the move from March 20, 2023 it is 490 days (360+90+45 or 135) which is also an additional reason factored in to be more cautious! Following this, the market is expected to take a breather, with profit booking potentially dragging the markets to deeper levels before any new uptrend is initiated (The correction in monthly scale can be anticipated). Further details will be discussed as the market evolves. Strategy: Being bullish at this juncture seems prudent, only till R II (for conservative / Defensive) & RIII (for Pro-active / Enterprising). Disclaimer: Before we conclude, I want to remind everyone that the insights shared here are based on my own analysis. It's crucial that you perform your own research and, if necessary, consult with a financial advisor before making any trading decisions. The financial markets are dynamic, and it's important to ensure that your strategies align with your personal financial goals and risk tolerance. =========================================================== Dear Traders, If you appreciate my work, please don’t forget to like and follow me. I would also love to hear your thoughts on this idea in the comments section and will be delighted to respond to each one. Thank you for reading the article. HAPPY TRADING
NSE:NIFTYLong
by WDG_Dinesh_Gengarajan