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Niftyoutlook

NIFTY--Keylevels @BASE??NIFTY INDEX is at crucial support at trendline... after a long time consolidation, price moves upside. DROP BASE DROP is observed previously... BASE acts as resistance it will fall back to below demand zones... we have a strong demand zone lies at 21700 levels... so tomorrow we have to observe this base bottom is pushing the price downside or not... by observing this we can decide further movement in NIFTY Index. ----------------------------------------------------------------------------------------------------- On the other hand, if price consolidate between base high to base low.. if price breaks the high and retest to base high, then will go for long side continuation up to 22500 levels. Then will observe a inverse head and shoulders pattern in NIFTY INDEX to go long.
NSE:NIFTY
by IIT-Trader
39
NIFTY--Trendline Holds or Breaks??Nifty index is showing strong bearish pressure from the 22200 levels. A drop base drop is done. Price tested the demand zones at 21960 levels . now it is ready to move again or fall back to below trendline to grab the liquidity. On bottom side, strong support at 21800 levels with an intersection point at trendline... this is likely to push the price upwards.... If price breaks the trendline an observation point of resistance at 22100-22150 level is the strong resistance to push the price downwards. If consolidation is observed above this levels leads to an breakout above 22300 levels for the targets likely to be 22500 followed by 22600 levels by keeping the SL at 22100-22150 levels. If price falls from 22100-22150 levels, it will consolidate on bottom side to test the 21300 levels of support and will likely to continue to bottom side. this is the crucial place to observe in NIFTY To continuation or Bearish??
NSE:NIFTY
by IIT-Trader
44
Nifty Approaching major support level in the free fall. We witnessed a free fall in Nifty today across the sectors. While the Nifty is falling freely a major support level of 200 hours EMA is approaching. Coinciding with 200 Hours EMA (Father Line) support is a trend line support which is near 21865. What seems to be the reason behind the market fall seems to be SEBI advisory to the Mutual Funds regarding their investment in small and mid cap companies to protect investor interest and and the need to rebalance their portfolio and take other measures. Next few days we will come to know the exact impact of the proceeds but certainly such an advisory when market is near the top will create a panic profit booking frenzy. If 21865 is broken the next supports will be near 21824, 21674, 21533 or 21432 which seems to be the channel bottom. If Nifty takes support near 200 days EMA and bounces from there the resistance levels will be at 22053, 22085, 22125, 22229 and 22281. In case of market recovery the channel top seems to be near 22510.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY--Drop Base Drop or Bullish??Nifty index is still in consolidation zone... We have a chance of drop base drop.Keep in long side as long as price is in channel. even though it is drop base drop we have to wait for clear short side confirmation,wait until the price breaks the trendline and retest for shortside.. we have a lot of liquidity lies below,we can enter long again on bottom side if we find any possibilities.It may continue to moving down chances are more. so keep safe manipulation moves may appear,this is the place for manipulation. we have a clear demand zone lies at 21960 levels. If demand zone failed to push the price upside, then will think of complete short side, below 21600 levels.
NSE:NIFTY
by IIT-Trader
21
50 EMA giving proper support to Nifty again.Today again we saw benevolence of Mother line (50 hours EMA) coming to fore and supporting Nifty giving it support to close well in the green. If Nifty can close above a strong resistance of 22218 there are good chances of Nifty again reaching previous high of 22295 or even cross it and go towards new high of 22364. Supports for Nifty remain at 22110 and 22105 (Strong support Zone). If this support is broken the Nifty can fall to 21970, 21885 or even channel bottom and 200 Hours EMA (Father line near 21853).
NSE:NIFTY
by Happy_Candles_Investment
NIFTY--Consolidation or Bearish??I am sharing the important levels of Support and Resistance. These levels plays a crucial role in trading decisions, as they act as reliable markers of price movements. ------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further. ---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher. Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies. Trade safe...Thank you guys for your support
NSE:NIFTY
by IIT-Trader
32
50 Hours EMA Support came into action today for Nifty.50 Hours EMA Support came into action and saved the day for Nifty today. Usually 50 Hour EMA should be a good support for Nifty but if we get a closing below the same today we can see further fall which may lead the Nifty to next support levels of 21970 or 21885. 21835 is the next major support for Nifty as it is a 200 Hours EMA. If Nifty recovers from the 50 EMA support the next resistance levels will be at 22172. The zone between 22295 and 22364 is a tough zone to conquer as the zone has ATH resistance as well as challenging Mid-channel resistance.
NSE:NIFTY
by Happy_Candles_Investment
Bulls fightback after bears had engulfed previous day's candle.What we saw today in Nifty was a remarkable fight back by bulls after bears had yesterday made an engulfing of previous Two days candled. Not only that the Nifty ended at 22217 recovering from day's low of 21875 which is a strong 342 point recovery from day's lows. Yesterday there was a bearish engulfing but what we had maintained is that today's candle has to close below the lows of yesterday. This means a follow up candle is required to confirm a break out or a break down. That is why we put a lot of emphasis on CLOSING and FOLLOW UP CANDLE. . Nifty has first time given a closing above 22200 today and it is very important for the bulls to close the week tomorrow above this psychological level. Future resistances for Nifty are at: 22252, 22350 and 22412. Support Levels for Nifty are near: 21997, 21876 and 21520.
NSE:NIFTY
by Happy_Candles_Investment
NIFTY-- RSI Divergence Is Negative??Nifty index is showing strong bullishness. Price breaks the All time High again and printed a New High. An Impulse move is identified but no corrective move detected, so those who wants to go long again, wait for the price to retrace back. wait for reversal in NIFTY index. Keep in long side as long as price in a channel. ---------------------------------------------------------------------------------------- What RSI Divergence saying is:: If the stock is making new highs, but the RSI starts making lower highs, this warns the price uptrend may be weakening. This is negative divergence. The trader can then determine if they want to exit the position or set a stop loss in case the price starts to decline.
NSE:NIFTY
by IIT-Trader
18
Bearish Engulfing Candle may take Nifty down.Bearish Engulfing Candle engulfed previous two Green Candle in Nifty chart today and may take Nifty down bringing in some consolidation and correction if we get a confirmation red candle tomorrow. If we get a closing below 21997 tomorrow bears may rejoice. The supports for Nifty in case of negative closing tomorrow will be at 21997, 21793, The zone between 21573 and 21410 has many supports including 50 days EMA and Mid-channel support. A closing below 21410 will elevate the mood of bears who will try to pull Nifty further down to next support levels of 21148 and 20770. In case 20770 is broken 200 days support of Nifty will be near 20114. On the upper side 22449 will remain an important resistance. Channel top seems to be near 23K but Nifty will need a lot of consolidation and little bit of correction before we can reach there.
NSE:NIFTY
by Happy_Candles_Investment
Nifty closed above important Fibonacci level looks good.A good closing today in Nifty above important Fibonacci level of 22126. Now the next important Fibonacci resistances will be 22288 and 22495. Supports for Nifty will be 21999, 21828 and 21671. As of now Nifty seems to be making a higher high higher low kind of pattern and today seems to have given a good breakout but good follow up candle is pending. If we can get that a good follow up green candle tomorrow or later in the week if there is consolidation it will be very good signal for the bull rally and indicate that bull rally has not run out of steam and will continue further. IT/Auto/Mid/Small cap/ PSU/Pharma stocks are showing signs of fatigue but Bank Nifty, Finance, Energy, Media and Realty stocks kept the Nifty in Green today and helped it march ahead.
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY--Breakout or Breakdown??Nifty is now at important zone of resistance. this is the place to continue its direction or reversal. If you want to go for short, wait until the price breaks the trendline. A strong bullishness is observed from 21500 levels, on bottom side side we have strong demand zones lies in the range of 21400-21300 levels... if price breaks the trendline these demands push the price upside. so wait for clear direction in nifty to short from this levels. Now its time to think for complete short side. Yesterday a strong bullishness is observed if this is an exhaustion of buyers, after a complete range bound is observed. so its time to wait in nifty for Breakout or breakdown.
NSE:NIFTY
by IIT-Trader
7
NIFTY--Bearish View(21300)??NIFTY INDEX is at crucial zone to move further upside or downside... Price is trading in a channel... price broken the trendline grab the liquidity at 21600 levels. on topside price again created a one more trendline, as of now this is the resistance which lies at 21930-21950 zones. If this trendline acts as resistance, more chances of fall below key level. so if price comes to this levels wait for bearish turn... If there is no bearishness price will continue towards strong resistance at ATH, by facing intermediate resistances at 22050. After the liquidity grab On topside above trendline as well we have chance of fall back...so wait until price to break the key level. check the bullish case-- we have Rally Base Rally.
NSE:NIFTYShort
by IIT-Trader
22
Major up move in Nifty, a good closing above major resistance.Today we saw a major fightback by bulls and closing above 2 major resistances which were 50 and 200 Hours EMA after a super negative start(Gap down due to unfavorable US Inflation data). The closing however is just below a resistance of 21872. A positive closing again tomorrow will give more power to the bulls. Shadow of the candles today is positive. Nifty Resistance Levels: 21872, 21922, 21970 and 22013. Nifty Support levels: 21787, 21739, 21633 and finally 21625(Major 200 hours EMA and Mid-channel Support).
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY--Drop Base Drop??Nifty showing strong bullishness from Golden Zone... price is now at breakout level, if price breaks above then liquidity on topside will done at 21880 and 21950 levels. If price unable to breaks the upside...a Drop base drop is going to observe from this levels. On bottom side we are left with bullish gap 21400 levels... if price unable to break above price clears the bullish gap left below... buy setup and sell setup are given in the previous post, please go through it. If price tests the demand zones at 21300-21400 levels look for buy side.
NSE:NIFTY
by IIT-Trader
2
NIFTY--@Traingle Breakout??NIFTY Index is now at golden zone of fibonacci we are still left with some more points on the bottom side at 21500-21520 levels... previously a strong bullishness is observed as well from this zone... price is also trading narrow in a trendline most chances of breakout from this levels... wait for the price to break the trendline and retest for longer side... otherwise a continuation may happens... on bottom side we have strong support lies at 21300 levels... keep mark this zone as well,if it will continue downside will look for buy at 21300 levels... price clears the liquidity at 21600 levels.... ---------------------------------
NSE:NIFTYLong
by IIT-Trader
24
NIFTY--Bullish View (22.5K) ??Bullish Scenario:: ----->> if price breaks the trendline on topside.. price will reach ATH, and facing resistance at ATH.. before going to reach ATH ,on topside we have intermediate resistances at 22050 level.. ---->>if price opens upside above 21950...we have consolidation chance between the trendline and 22050. If price consolidation for the entire day, and price closes at ATH. Then we have chance of Gap down(If Bearish view)..continue moving downside and will test 21300 level of demand zones. or Continuation may happens to upside...Keylevel to watch--21800. if trendline acts as support...Wait for the trendline retest, Price again tries to test the trendline and moves upside for targets of 22450,22600 levels,
NSE:NIFTYLong
by IIT-Trader
21
NIFTY--Consolidation or Bearish??look for bearish from 22050 and trendline... Keep in long side as long as price is above the 21950 levels... if you want to go short wait for the price to facing the resistance from 21875 key zone If price takes the support at trendline or 21950 go bullish by keeping the SL at Key zone. we have a chance of consolidation between the zones 22050 and 21950 and manipulation to ATH, and then Distribution to downside. Keep safe here...price is now at turning point... Have a look at the Bullish Continuation and Bearish view for complete analysis.
NSE:NIFTY
by IIT-Trader
2
Nifty Takes support at Mid-Channel support. (Nifty Next Week).In the trade on Friday Nifty took support at the Mid-Channel support which was also a trend line support which was near 21629. The 200 hours EMA support was also nearby at 21610. So Nifty made a turn around from this support zone. The Nifty stopped and closed the week just below the 50 hours EMA resistance which is at 21795. This will be the immediate resistance for Nifty as it opens on Monday. The other important resistances for Nifty to conquer in the next week will be at 21849, 21922, 21970 and 22013. If 22013 is conquered the next resistances will be near 22062 and 22126. Support zone for Nifty will be between 21648 to 21610. If we get a closing below 21610 Nifty will be in trouble as bears will wake up near that level. In such a scenario the next support will be either at 21459 or 21285 only.
NSE:NIFTY
by Happy_Candles_Investment
Again the same resistance zone pushes Nifty back.As described yesterday again the same resistance zone between 21964 and 22063 traps Nifty and pushes it back. Trendline is giving Nifty support and not allowing to fall drastically. The same resistance trapping the candles again and again does not help the rally and makes it weak. Thus the shadow of Nifty is negative. Resistance and Supports for Nifty are as under: Nifty Supports: 21870, 21819, 21652 and finally 21587. (Below 21587 Nifty becomes very weak and bears come in full force). Nifty Resistances: 21964, 22063 and finally 22127. (Above 22127 the door for our target of 22357 opens).
NSE:NIFTY
by Happy_Candles_Investment
NIFTY--Double Top or Inverse H&S ??Need some more trading sessions to analysis, to confirm upside or downside?? I am sharing the important levels of Support and Resistance. These levels plays a crucial role in trading decisions, as they act as reliable markers of price movements. ------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further. ---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher. Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies. Trade safe...Thank you guys for your support
NSE:NIFTY
by IIT-Trader
11