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Morning Mantra - 7th February, 2023Dear All, On observing yesterday’s market momentum, where Nifty had made a high of 17823.70 but had somehow failed to sustain above the level due to selling pressure. We can altogether see how crucial is the level of 17800 for the Market. Once again, Nifty seems to be finding difficulty to stably cross over the stated Resistance level of 17800. Moreover, on observing the formation of a bearish harami pattern on the day chart of Nifty, we can sense a little cautiousness in the Market for today. Nonetheless, we are still positively hopeful for the Market with the support of 17320. Thus in the meanwhile, stay cautious and be stock specific for now. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Morning Mantra - 6th February 2023 Dear All, Finally we got to witness a beautiful week. Moreover, just as we had stated earlier that support = resistance and resistance = support, similarly, the level of 17800 which was earlier a Support is now a level of Resistance for the Market, which was beautifully achieved by Nifty on last Friday. As of now, on a weekly basis we can observe a Piercing Pattern on the chart, at around our stated level of 17320, which was altogether a good indicator. Furthermore, for this week the level of 18170 will work as a strong Resistance for the Market once again. Above which, we can witness the level of 18400 in the near term, with the support of 17320. Also, continue being stock specific as of now. Regards, Alok Daiya
NSE:NIFTYLong
by alokdaiya
Nifty 30 Jan 23 to 3 FEB 23 Short ,Medium and Long TermNifty 30 Jan 23 to 3 FEB 23 Short ,Medium and Long Term Nifty closed at 17605 ( Prev close 18057) Nifty in Deep Red Zone due to Hindenberg report Adani Stocks befor FPO and budget. Q3 Results didnt entralled the investors to the expectation so far, except Banking sector results. Banking sector posted good performance(results) as mentioned in last 2 weeks analysis but the bank index didnt moved much due to the Indian Market Slow down worry. Expect infra push continues in budget. Currently market is eagerly waiting for budget to prevent any deep fall. Wait for the market to dip to the support levels mentioned below. Overall Strategy: Negative till budget & accumulate on dips w.r.t the strict support level given below. Long Term looks attractive. Market may fall from 2-4 % from current level Nifty short term Nifty was following range bound action for the last month as specified despite budget expectation. Due to the Adani report, market fell down 2.2 % last week. If it breaks below 17435 (Oct22 High Shown in dark Red line) then next support will be 17290 ( MA 200) / 17000. Index will be in broader range with high volatality 17250- 17800 till budget. Investors can Partial profit booking (30%) stocks can be initiated and add value stocks for Long Term when market dips to the above support level. Medium term target 18250 followed by 18900 is achievable as overall macro economic data is good and now purely depends on the push to be given by budget. If the budget is not meeting the expectation then the Market Range will be 16750 ( Sep 22 low) - 18250 levels. Long term target 19500 still in intact. Nifty Bank Index is continuing under oversold zone, Adani stocks exposed stocks like SBI, ICICI, LIC will be consolidating little and opportunity to buy. other bank Stocks like Axis Bank, Kotak Bank, Ujjvan Small Fin bank and BOB looks promising. If nifty moves towards 19500, Nifty Bank will definitely might move to 46500 level from current 42506 little better % than nifty . sectors like Defence, Infra stocks will be concentrated in budget especially HAL, BDL, Ircon, PNC Infra are good to buy on dips ( 5-10% Correction) incase market fall. Auto looks promising - Maruti, M&M , Tata Motors are good to buy. Other stocks - Bajaj Finance ( 5-10% Correction), Infosys, Hind Unilever, Tata Elxsi, KPIT looks promising. Buy on Dips.
NSE:NIFTYShort
by karthikss
India Vix About to Break Out but needs cooling off for nowAs you can see the Volatility Index of Nifty has leaped and on the verge of shooting through the roof. Therein lies the relief. If you look at Relative Strength Index of the Volatility Index, it has entered the zone from where it generally reverses. Reversing volatility might provide a relief rally or stability to the Index and we might see some buying from various kinds of investors. Good budget or a budget without any negative news can play a positive role in Indices making a comeback or infusing stability. On many counts the index looks oversold and later on Monday / Tuesday or in that range we might see a rally. This rally can be short lived as it will face resistance near 17950/18050 range but if that zone is overcome and if Budget has some very positive news for the investors we might see a sharp rally till 18400 or 18800 range. In case of lackluster budget by Government of India the downside that we might be looking in Nifty can range between another 3 to 7%. The index within Nifty that looks on the verge of Break Out is Auto Index. It is looking really strong. Tech companies can make a comeback because they have been beaten down the most and they may reflect the light from positivity of NASDAQ.
NSE:INDIAVIX
by Happy_Candles_Investment
Nifty 23 Jan 23 to 27 Jan 23 Short ,Medium and Long TermNifty 23 Jan 23 to 27 Jan 23 Short ,Medium and Long Term Nifty closed at 18027 (Prev close 17956) As highlighted in prev weeks nifty is in sideways movement. Q3 Results didnt entralled the investors to the expectation, except Banking sector results. Banking sector good performance(results) was expected as mentioned in last 2 weeks analysis but the bank index didnt moved much. Expect infra push continues in budget. Currently market is eagerly waiting for budget. Wait for the market to dip to the support levels mentioned below. Partial profit booking (20-30%) stocks can be initiated in portfolio stocks and add value stocks. Overall Strategy: Neutral till budget & accumulate on dips w.r.t the support level given below. Nifty short term Index will be range bound from 17775-18260 till budget. If it breaks below 17775 major support (Shown in dark blue line -Aug 22 & Feb 22 High), then next major support 17564 ( Fibinoccai 0.318 New)/ at 17435 (Oct22 High Shown in dark Red line). Need to cross firmly above sustain above 18260 to reach initial target of 18350(Jan22 High shown in dark Green color) /18440 and 18550 in the coming weeks. Medium term target 18900 as long as market above 16800/17000 levels. Long term target 19500. Nifty Bank Index is still under oversold zone, Stocks like Axis Bank, Kotak Bank, Ujjvan Small Fin bank and BOB looks promising. If nifty moves towards 19500, Nifty Bank will definitely might move to 46500 level from current 42506 little better % than nifty.
NSE:NIFTY
by karthikss
NIFTY : View for 3rd JanNIFTY : Sellers trying to stop nifty but Bulls are working hard to hold levels. its important to watch Price action levels closely to understand who will win this fight. Yesterday it went down and back again exactly touching indicator and created 2 green candle in hourly chart. change levels little bit to adjust price movement but my personal view is still up. Lets see today's price action and levels. It will motivate me to post more analysis if you can Like, Share, Comment. Disclaimer I am not SEBI registered analyst My studies are Educational purpose only Please consult with your Financial advisor before trading or investing First Learn and then remove "L" Last view : Comment: 1st Jan : Nifty was not able to sustain and down during last session. but its hold position exactly at hour support line. Still nifty is near support zone and bull can try again with double force to back in bull zone. Lets see Monday candle pattern
NSE:NIFTY
by ChartsSpecialist