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Niftylevels

Morning Mantra - 1st March 2023Dear All, On observing yesterday's Market momentum, we could see that Nifty had made a positive opening at around 17383. Although, it was towards the later half of the day that some selling pressure was observed, and Nifty made a low of 17255. However, just as we have been stating, on a positive note, Nifty supported the bull side by ultimately giving us a closing of above 17300. So, once again we had witnessed the effectiveness of the 17300-17320 levels. Furthermore, we are still hopeful for the Market, until the index is above 17300 on closing basis. In the meanwhile, continue being stock specific until the announcement. Regards, Alok Daiya (SEBI Registered Research Analyst)
NSE:NIFTY
by alokdaiya
8
Morning Mantra - 28th February 2023Dear All, Yesterday was a wonderful day for the Market! Wonderful in the sense that it was quite predicted about the level of 17320 or 17300 to be a major level of support for Nifty, as of now. Fortunately, we got to witness the same, as Nifty took a wonderful support at around the level of 17300 and had ultimately given us a closing of 17400 approx, yesterday. So, as of now, just like we had stated yesterday itself that if Nifty takes a wonderful support at 17300, then we can witness a positive bounce back towards 17800, which will again be a strong resistance level for us. Until then, continue being stock specific and keep an eye on few stocks for some cherry picking. Regards, Alok Daiya (SEBI Registered Research Analyst)
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 27th February 2023Dear All, Finally, once again we had witnessed the importance of the 17800 level in the last week. Wherein, as expected after breaking through this level, Nifty showed us a sharp downfall as it made a low of 17421, on the previous trading day. Besides, just as we had stated in the previous week itself, that Nifty is getting reading for the level of 17320 once again. The same level which was the support level of Nifty, 2-3 weeks ago. Similarly, we can now state that Nifty's range has somehow shifted to 17320-17800 once again. Although we do not want you to panic, but if Nifty breaks this level of 17320 then we can see a further sharp downfall towards the level 16800. So, for the strong side of Market sentiments, the bulls have to at least sustain this crucial level of 17320, for now. In the Meanwhile, continue being stock specific till the next announcement. Regards, Alok Daiya (SEBI Registered Research Analyst)
NSE:NIFTY
by alokdaiya
predictive analysis of Nifty 50 with Fibonacci RetracementNSE:NIFTY presently at the support zone in between 17500-17350, this zone also being a Fibonacci retracement zone of 61.8% fibonacci level. Expecting some reversal move from hereon tomorrow onwards. All over trend is non-trending to Bearish, so don't expect much rally from here, reasonable Resistance zone would be 18270-18130 in dcb. Pl do your own study before open trade or consult with your financial advisor first, this analysis is only for study purpose, not a trade recommendation.
NSE:NIFTYLong
by biniyoger_swaralipi
Morning Mantra - 24th February 2023Dear All, Yesterday, we had once again observed Nifty’s movement towards the level of 17320. Wherein, Nifty had made a low of 17455.40 and had ultimately given us a closing of 17511.25 Moreover, since today is the last trading day of this week, it will be better if Nifty touches the level of or around 17320, today itself. Otherwise, we might get to witness some panic in the Market in the forthcoming week. Whereas, in the meanwhile, it will be suggested to keep patience and to be stock specific. Levels : 18170-17800-17320 Regards, Alok Daiya (SEBI Registered Research Analyst)
NSE:NIFTY
by alokdaiya
Morning Mantra - 22nd February 2023Dear All, It was a 2nd consecutive day yesterday, where we had observed Nifty taking a beautiful support at around 17800 once again. Besides, we had also seen a beautiful opening from Nifty yesterday. However, after reaching the level of 17920, the index had somehow failed to sustain the level and so consequently we got to witness a closing of just above 17800, once again. Nonetheless, we are still with our words that the level of 17800 will once again be a very crucial level for the Market to finally decide its trend. Moreover, we are still quite positive for the upper level of 18170 as the level of Resistance in Nifty, until it is above 17800. Also, in the meanwhile, continue being stock specific. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 21st February 2023Dear All, Once again Nifty had shown us the magic of the crucial support level of 17800, yesterday. As it made a low of 17818.40 and then had ultimately given us a closing of 17844.60 Well, as we had already mentioned that there’s a close fight going on between levels of 18170 and 17800. So, for now, an either side breakout or breakdown has become very necessary for the new trend identification. However, until then, continue being stock specific. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 17th February 2023Dear All, Just as we had stated yesterday, about being very near to the level of 18170. Similarly, we did witness a high of 18134.75 in Nifty, yesterday itself. Also, finally today is the last trading day of this week, and it is indeed expected to be a crucial one. As so far, we have been fortunate enough to be witnessing a consistent closing of above 17800 for the past 4 trading days. Wherein, if we witness a closing of above 17800 even today, then our support level can be shifted from 17320 to 17800 in the upcoming week. So, altogether, today’s closing will play a very significant role in deciding a direction of Nifty’s momentum for the upcoming week. Whereas, in the meanwhile, continue being specific and keep following the Cherry Picking strategy. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
1
NIFTY VIEWNSE:NIFTY Nifty has given a Break out from falling channel and also taken out the budget day high. The Break out is not at all convincing since the volume is missing. You can read it from the chart that last couple of days of moves were backed by low volume. It is rather looking like a short covering. Going forward Volume profile suggest stiff resistance at (18080 -18120) levels. Caution is advised and it is better not to chase the present up move. You can see that price is now at 0.618 levels and could face some resistance look for a pullback to 0.786 which is at 17800. A base has also been formed there, Which will also offer a good Risk/Reward NSE:NIFTY Hourly time frame VCP pattern is completed and given a break out above budget day high. As mentioned above the break out is not convincing. Wait for a pull back. Good Luck
NSE:NIFTY
by Vasu_devan
Morning Mantra - 16th February 2023Dear All, Finally we got to witness a beautiful breakout in Nifty, yesterday. Wherein, just as we have been repeatedly stating the level of 17800, similarly Nifty has shown us a beautiful and an expected bounce back therefrom. Furthermore, we are now very near to the level of 18170. Provided we keep witnessing a strong and a consistent closing of above 17800 throughout this week. Also, as per the current circumstances, we can see our support level of 17320 to be shifting to 17800 very soon. Above 18170, 18400 will be our next target. In the meanwhile, continue staying stock specific and keep following the Cherry Picking strategy. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 15th February 2023Dear All, Fortunately after yesterday’s trading session, we have once again witnessed a positive closing of 17929.85 from Nifty. Wherein, notably the index had taken a very beautiful support from our crucial stated level of 17800, yesterday. The same stated level of 17800, which is repeatedly playing a very significant role as a Resistance and a Support for quite some time now. Thereby, proving our notion to be absolutely on point, i.e., Resistance = Support = Resistance However, for now, we are still with our words that we need to witness a stable and a consistent closing of above 17800 for at least a week. As it is only then, that we may get a clear confirmation from Nifty regarding its decision to move towards the upper Resistance levels of 18170 and 18400. Besides, as per the current market momentum, the support level of 17320 now seems to be shifting to 17800. In the meanwhile, continue being stock specific and keep following the Cherry Picking strategy. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 14th February 2023Dear All, Once again in the yesterday's trading session, we had got to witness how crucial the level of 17800 has become for Nifty. Wherein a strong Resistance is being faced at this level. As even yesterday, Nifty gave us a closing of 17770.90. So somehow Nifty seems to be struggling at around this level of 17800. Therefore, it has now become very important for the index to crossover and to sustain above this level of 17800 for at least week. As it is only then, that the probability of witnessing the levels of 18170 and 18400, will increase. Until then we can see that it’s a crucial fight between the Resistance and Support where Resistance = Support = Resistance So, in this volatility we must witness a positive and a stable closing of above 17800, which will be on our radar. In the meanwhile, stay stock specific and follow the Cherry Picking Strategy. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 13th February 2023Dear All, As we told you on last Monday, about witnessing the formation of a Piercing Pattern on the weekly chart of Nifty, which was somehow indicating a bounce back in the Market. Fortunately, thereafter, we did witness a beautiful weekly closing of above 17800 in Nifty. So for now, with the support of 17320, the level of 18170 will be our Resistance level once again. Furthermore, the impact of the budget and the quarterly results are somehow indicating that there’s a huge probability of witnessing a beautiful rebound in the Market once again, from this level of 17800 towards 18170 and 18400. So in the meanwhile, along with being stock specific, following the Cherry Picking strategy will be a good idea here. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 10th February 2023Dear All, Fortunately, we got to witness a closing of above 17800 for two consecutive days. This altogether, strengthens our expectations towards the level of 18170 for the near term. However, it will be suggested to keep patience for now, since today is the last trading day of this week. As, the weekly closing will somehow help us to understand the Market's momentum for the upcoming days. Furthermore, if the Index manages to give us a weekly closing of above 17800 today, then our support level will once again shift from 17320 to 17800, as we usually say that, support = resistance = support. So for now, continue being stock specific and wait and watch for today's closing. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 9th February, 2023Dear All, What a beautiful day it was yesterday, which seemed like a perfect “8 ke thaat”. Wherein Nifty had given a beautiful closing of above 17800. Just as we had stated in our weekly analysis on Monday itself, similarly, perfect Piercing Pattern on the weekly chart can push the index towards the level of 17800 and then further to 18170. Moreover, a contribution from all the sectors is somehow indicating a positive post budget impact on the Market, which may take the index towards the 18400 level in coming days. Also, in the meanwhile, following the Cherry picking strategy will be a good idea. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 8th February, 2023Dear All, Just as we had stated yesterday, similarly we did witness some selling pressure in the Market yesterday itself. Wherein, once again even after making a high of 17811.15 in the initial Market hours yesterday, Nifty failed to sustain above its stated Resistance level of 17800 and ultimately gave a closing of 17721.50 Therefore, we can observe the importance of the 17800 level. Just as strong as it was as a level of support earlier, similarly it is now proving to be a strong level of Resistance for the Market. Besides, with the support level of 17320 we are still hopeful. Moreover, this may be due to the Results season and post budget effect that Nifty seems to be confused once again. So, having a little patience will be beneficial for now. Until the time Nifty decides its direction towards either a breakdown of 17320 level or a cross over of above 17800. So, in the meantime, continue being stock specific. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya