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Nifty 50 Updates for next week April 24Continuing the analysis of Nifty50 as per the idea shared on April 19, the following are the events that unfolded. 1. Price reversed from the PRZ at 0.886 (17150) and found resistance at the confluence of the last swing high and the trend line coming from the top at 17300, triggering a late sell-off on April 19 - on the back of some news related to the Russia Ukraine war 2. The sell-off was so severe that Nifty50 breached 17000 and met the 1.13 PRZ at around 16870 levels in a flash 3. When everybody had turned bearish, the next day, April 20, saw a gap up opening above 17000, and the index posted a splendid recovery until 17500 levels on April 21, creating a highly bullish candle 4. At this point, Nifty50 had formed a half-bat pattern as shown - with 17500 as a powerful resistance level 5. When everybody was bullish because of the strong closing on April 21, the index surprised everyone with a gap down around 17240 levels - thanks to the half-bat pattern! 6. The day continued to be bearish, with Nifty closing around 17170 levels on the spot 7. During this same period, world markets have been bearish, with Dow falling almost 2000 points till the closing on Friday (April 22) and SGX nifty closed on Friday around 17000 levels after our market hours. 8. Coming into the last week of April, Nifty50 is posted around a critical range between 16800 and 17500. An ABCD pattern is visible from the point of rejection around 17500. 9. Now, coming to the possibilities for the week, these are the things that could happen a. Nifty50 opens gap down on Monday per the global cues and breaches the 16800 levels - this will activate the ABCD and the probability of testing levels around 16230 opens up. b. Nifty50 opens the gap down and regains 16800 levels forming a double bottom around these levels. In this scenario, two things can happen i. Nifty50 goes sideways and trades in a range between 16800 and 17500 with high volatility ii. Nifty50 gains momentum and breaks the 17500 barriers to become bullish and thus will form a ‘W’ pattern to scale 18000 in the May Series 10. Looking at the news flows over the weekend, things are very mixed - ICICI Bank has posted a good result, as Reliance - Future Retail deal off is not a good sign 11. Overall an exciting week ahead - we will keep you posted on how the views pan out as things evolve
NSE:NIFTY
by CodeViser
Nifty Intraday Update for 22th April 22Nifty 50 Index entered a second straight day of pullback on Thursday, rebounding 400+ points in two days. Strength in IT stocks along with heavyweights Reliance and the HDFC twins aided the up move. The Nifty50 has formed a long bull candle on the daily chart, confirming a bullish reversal pattern for the short term (follow up move after forming a ‘bullish harami’ – as highlighted in Thursday analysis). Will the pullback rally continue? We are currently in the correction phase of the down-move which started during April 2nd week and a half bat pattern is formed at 17450-17550 levels. This level is likely act as a strong resistance, because of the unfilled gap and we saw a strong down move when this level was broken on Monday. 17500-16800 is the wider consolidation range. Intraday (45M TF) Index gave a strong closing, breaking the trend line resistance which was holding the downtrend. XABCD patter was activated after the gap up. The pullback rally can continue only if price closes and sustains above 17420 (PDH). There is no much room for an up move, because of the PRZ and unfilled gap and 17550 levels is immediate target and we have multiple swing highs going up, which will act as resistance. 17250-17200 can act as an immediate support. lHowever, since SGX Nifty is trading significantly lower, we can see a gap down opening today. In case of gap down (Price opening below we will follow our 30 minutes range break-out strategy.
NSE:NIFTY
by CodeViser
Nifty Intraday Update for 19th April 22Nifty 50 Index started the week on a negative note, in continuation of the prevailing correction phase. After a 280 points gap-down opening (slightly below the ABCD target of 17218) amid weak global cues and lower than expected results from heavyweights like Infosys and HDFC Bank, the Index continued to trade with a negative bias before recovering some of the losses towards the second half, taking a bounce from hourly support. The index is now back to the range of 17000-17450, where it was stuck for 2-3 weeks during last month. The global cues as well as the outcome of Q4 earnings will continue to add volatility in the coming sessions. Hence, one should remain cautious during the intraday. India 50 USD Index Analysis Higher Time Frame (4H): The Index has formed a XABCD pattern and has given an indication of a correction of its downward impulse which started from 17920 levels, taking a bounce from its PRZ level. This level has acted as good support in previous instances as well during last month. A half-bat pattern is formed at 17500 levels which also happens to be the major previous swing high and is an important resistance. Price breaking and sustaining this level can give a good upward momentum, confirming the trend reversal. Intraday =========== Lower Time Frame (1H): Having identified a potential reversal in the higher time frame, we will now drill down into the lower time frame to identify more precise levels for intraday. The index has given a good closing, breaking the downward trendline resistance, and is likely to face its next resistance at 17340, and the day low of 17100 is expected to act as good support (PRZ Levels as per XABCD). We are likely to see a range-bound market if either of the levels is not broken.
ILong
by CodeViser
4
Nifty-08/04/2022-LevelsHello Traders, Nifty-08/04/2022-Levels ------------------------------ If Market Opens as a- GAP-UP: Support of IMP (BUY) – Rejection of IMP (SELL) FLAT: Support of IMP (BUY) – Rejection of PDL (SELL) GAP-DOWN: Support of S@1 (BUY) – Rejection of PDL (SELL) ------------------------------------- Happy Learning and Trading Rules to fallow... 1) Trade with Strict Stop Loss. 2) Trade with Small Quantity. 3) Take entries based on Support & Resistance Levels. Please take the trade according to the levels marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries after your own analysis. This is for education purpose and a helping hand to learn trading in market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE , it motivates me to do analysis and do share with your trading friends. SHORT FORM &FULL FORM ------------------------------- PDH-> Previous Day High PDL-> Previous Day Low PWH-> Previous Week High PWO-> Previous Week Open PWC-> Previous Week Close PWL-> Previous Week Low IMP -> Important R@1, R@2,R@3... ->Resistance-Zones S@1, S@2,S@3... ->Support-Zones M_S -> Major Support S_H -> Swing-High S_L -> Swing-Low D_T -> Double Top D_B -> Double Bottom T_T -> Triple Top T_B -> Triple Bottom TF -> Time Frame BO -> Break-Out RR -> Risk-Reward SL -> Stop-Loss GAP -> The area b/w Previous Day Close and Today Open Blue Color Text(S@*,R@*)-> Act as Major Support or Resistance-Zones(Be Alert, Chances to Market take Reversals )
NSE:NIFTY
by SriTrader5121
NIFTY 50 Trend AnalysisScenario 1 The chart pattern looks like a descending broadening wedge which is a bullish continuation pattern. I am expecting bottom to be around 15000-15300 levels if the above mentioned pattern plays out. For more confluence to my idea, you can check volatility index and dollar index linked below. VIX is at reversal point with bullish divergence in RSI and DXY was long posted but still following what I mentioned then. Now it is about to break out of the bull flag and head higher. Both these will add more bearish pressure to stocks. Death Cross is also likely to play out in couple of days, which is also highly bearish. Scenario 2 If 16800 level will provide support then reverse H&S pattern will play out. Scenario 2 is more likely because most of the stocks already bottomed out and will make higher low for bullish continuation. Will see what happens. Peace!!
NSE:NIFTYShort
by Swastik24
Nifty : Daily AnalysisAfter yesterday's BIG move due to HDFC Twinc now Nifty need to be cool down to go more. Currenlty, Nifty is trading in triangle patter. its verymuch imporatant for Nifty to corss yesterday's high and sustain. currently it is forming double top patter on 15 min time frame. Down side 17900 is very much important support zone for Nifty. if nifty sustain and not cross it, we may see 18340 - 18500 and 19220 possible by April end. If not sustain & break may go 17730 Like, Share, Comment for regular updates. Disclaimer I am not sebi registered analyst My studies are Educational purpose only Please consult with your Financial advisor before trading or investing
NSE:NIFTY
by ChartsSpecialist
NiftyHello & welcome to this analysis on NIFTY After a few days of sideways consolidation Nifty appears to have completed its correction yesterday. It faces resistance at 17380 / 17440 (going by current SGX Nifty its trading well above it) and then at 17650 / 17800. Failure to take out 17650-17800 zone could see long unwinding and selling pressure till 17000 or lower, whereas above that zone the trend line resistance near 18150 becomes a target. 17275 appears to be a strong support now for the settlement.
NSE:NIFTYLong
by Dinesh_C_Nagpal
NIFTY Outlook for the coming week i.e. 4th to 8th April 2022.Market has shown immense strength this week closing at 17670 which is more than 3.02% from last week. Nifty is now headed strongly into a resistance zone and we might witness a clash between bulls and bears the coming week. The strong resistance zones will be 17709, 17819 and 17951. If Nifty has a massive continued bull run in less likely circumstances, it can reach 18030 and regain 18K+ levels in case the bulls have a field day or a week. However, this looks unlikely as of now. In case bears prevail the support levels will be near 17551, 17440, 17250 and 17008 in case the bears have a decent outing. FIIs are in buying mode and tailwinds look positive as of now unless we have some negative development in the weekend.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Round and path ahead for 28th March to 1st April 2022.As mentioned last week the resistance between 17206 and 17450 proved very difficult for Nifty to conquer. It was a mixed week with Crude trading in a volatile fashion Covid 19 cases picking up in China, South Korea, Europe and other places. The war is continuing relentlessly and I would say our market is doing extremely well to hold above 17078 which is the 50 days EMA. FIIs and DIIs were taking turns this week in buying and selling almost like playing hide and seek. Indian market are showing inherent strength. We are at cross roads any positive news can give a nice 200-300 point rally similarly any negative news will test the supports at 17078, 16988 and 16726. On the upper side resistance levels will be 17202, 17294, 17352, 17428 and finally 17628.
NSE:NIFTY
by Happy_Candles_Investment