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Niftyresistances

Nifty looking strong after taking mid-channel supportNifty looking strong after taking mid-channel support. Crossing the immediate resistance of 19826 and 19880 the Nifty is looking all set to gain all lost ground due to conflict in the Middle East. Next resistance for Nifty after crossing 19880 will be at 19984, 20049, 20148 and 20200+. Supports for Nifty on the lower side will be at Mid channel support that is today's low near 19703. If in future 19703 is broken the next supports will be at 19581 and 19511. Things are looking good with a very good Hammer candle to end the day.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Facing Trend line Resistance but looking strong Nifty is facing trendline resistance zone between 19830 and 19875. Nifty today made a high of 19829 and closed blow 19800 at 19783. Looks like tomorrow again Nifty will try to close above the 19875. If it does we can see further rally till 19992 and 20100+ levels. However crossing this hurdle is little tough. It can become easy if Nifty opens gap up above the trendline resistance. If Nifty fails to cross the resistance the supports at lower level will be at 19751, 19667, 19584 and finally 19498. But overall scenario still remains positive despite the resistance.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty in the support zone.Nifty right now is in a zone where it has multiple supports taking any of which it can start climbing again. The major support zone from the current level is 19667 to 19584. Below 19584 the major support for Nifty will be 50 days EMA (Mother Line) near 19487. Resistances on the upper side for spot nifty are near 19766, 19810, 19873 and 19992. Above 19992 Nifty can rise to 20051, 20116 and finally previous peak of 20222. So it might be a range bound few days till election results are announced.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Faced Channel top resistance on an Hourly chartNifty retreated sfitly from top of yesterday that was 19875 to close the day at 19765 because it faced the channel top resistance as seen in the chart. This zone between 19816 to 19877 will be tough to conquer however Nifty will make an attempt again to close the week on a high. supports on the lower side for Nifty remain at 19714, 19627 and 19571 (Mid channel Support). Below 19571 the stock can fall to 19527 or 19453 which is a 50 and 200 EMA on hourly chart respectively. Crossing and closing above 19877 will open the gates towards 20K again.
NSE:NIFTYLong
by Happy_Candles_Investment
Perfect Breakout with one major hurdle to cross.It is a perfect breakout as we had predicted yesterday. As we had said you will find Nifty between 19600 and 19700. Nifty today made a high of 19693 and finished strongly at 19675. The next major resistances are at 19693, 19847 and finally 19990 until we are back above 20K levels. The investors should be cautious of 2 things. 1) Rate hike by US Fed in December FOMC. 2) Further major escalation in Israel - Palestine crisis which could make it a Multi-polar fight. In case of above developments the supports for Nifty will be near 19586, 19456, 19333, 19223 and finally the support zone between 18893 and 18835.
NSE:NIFTYLong
by Happy_Candles_Investment
Good Closing to the week. Light may shine in Muhurat trading.A very good candle to close the week by Nifty on Friday. In general, there is good buying on the Muhurat day. In addition to this markets in US and seems to be closing on a strong footing in US. All this can lead to a bumper Muhurat day session and the following week can also shine with positivity in this festivity adding more glitter to the festival of lights. Resistances on the upper side remain at 19444 (Looks like this resistance can be leapfrogged). Further resistances will be near 19582, 19695 and finally 19860. Supports on the lower side will be near 19316 and 19221. (The zone between 19316 and 19221 is a strong support zone now). Below this level 19078 and 18873 will be the final supports.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty consolidating below 50 days EMA. Nifty is consolidating below 50 days EMA. Also note that 50 days EMA is the Mother line so the stock price below the same indicates that 50 EMA is a resistance(To Know what is Mother Father Small Child Theory contact us). Once this resistance is crossed the next resistances for Nifty will be at 19695, 19860, 20047 and finally 20215. Crossing and closing above 20215 will open the gates for Long Term Target or 21000 or by next Diwali even 22000. The supports on the lower side for Nifty remain at 19294, 19075, 18863 and finally 18663. Below 18663 Nifty becomes weak and Bears take control of the same.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty positioned nicely in a positive open mouth channel.Nifty is positioned nicely in a positive open mouth channel. Crossing and closing above 19726 can start a positive wave in Nifty which will have resistance at 19353, 19413, 19562 and 19681. Supports for Nifty at the lower level are 19207, 19170 and 19070. Things are looking good for a positive Diwali and Muhurat buying. Let us hop that all the positive levels are crossed and we get a closing close to 20K during the Muhurat session or post Muhurat session.
NSE:NIFTYLong
by Happy_Candles_Investment
1
Nifty forming a good channel on hourly chart. Nifty is forming a good channel on hourly chart and things are looking positive for now. Once the Nifty crosses and closes above small resistance of 19145 and 19177 and hold that support. (It is very much possible that Nifty opens gap up above 19177 which will be very good technically, the next targets for spot nifty will be 19230, 19353 and 19425. Support on the lower side are at 19070, 19007 and 18935. Expecting a good closure to the week as things right now look positive. Some big negative news from Middle East can still spoil the party so be cautious.
NSE:NIFTYLong
by Happy_Candles_Investment
Mid Channel Resistance stopped Positive looking NiftyMid channel resistance acted on positive looking Nifty and levels above 19230 could not sustain. Closing below Mid channel resistance is not a good sign. If Nifty had closed above 19230 we would have seen a sharp rise. Now we are looking at an important support level of 19033. If Nifty can give a closing above 19033 tomorrow it will be considered a positive signal again. If Nifty is not able to sustain above 19033 then again the recent low of 18837 will be tested. If 18837 is not held in the coming week we may see a dip again upto 18489 levels. (Looks little unlikely but you can never be sure with the global tensions going on). Resistances on the upper side will be 19124 and 19230. Above 19230 the next resistance will be near 19492.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Weekly Outlook. As expected Nifty took support from 200 days EMA (Father Line) and jumped 190 points. We are not out of woods yet as the resistance levels in front of us now are 19097, 19366 and 19524 (Major resistance). Supports for Nifty are near 18832 and 18557. Falling below 18557 Nifty can crash further to 18333 levels. It is important for Nifty now to give a confirmation reversal candle on Monday. If we get a Green confirmation candle on Monday we can finally say that Nifty has bottomed out of the Middle East crisis. So Monday and Tuesday closing will be important for further recovery.
NSE:NIFTYLong
by Happy_Candles_Investment
Recovery from the big jolt on Monday expected but slowly.As depicted during the weekend a fall was expected. Now recovery from the big jolt on Monday expected but slowly. The supports will be tested again and the recovery might not be as smooth as expected by many investors. As you might have seen FIIs and DIIs were net buyers in the current fall then why the market crashed? Mostly it was due to rush of retail investors who were holding the market. The knee jerk reaction to the Middle East crisis was there to be seen in the market and difficult times might not be over as chances of further escalation is a clear and present danger. Supports For Nifty: 19213, 19029, 18867 and 18826. Resistances For Nifty: 19331, 19477 and 19684.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Showing signs of Weakness. Nifty is showing signs of weakness major factor being crisis in the Middle East. Few supports on the down side will be tested in the coming week. If the Nifty can take support at any of the support levels given below only then there will be chance of recovery by end of next week or by end of the month. Supports For Nifty: 19489 (Weak support), 19328, 19029 (Strong support), 18822 (Very strong support). Resistances for Nifty: 19602 (Strong Resistance), 19684, 19845.
NSE:NIFTYShort
by Happy_Candles_Investment
The support that Nifty took today will be tested. Nifty took a decisive support today and bounced back closing above 50 days EMA which shows strength in the market, however the support taken by Nifty yesterday 19512 might be tested again today. If that support hold then we may see a positive up move on today or in the coming week. Nifty will remain under pressure throughout the day. situation remains grim due to Middle East crisis. Auto sector looks positive and Chemical sector seems to be forming a bottom. Nifty Supports: 19511 and 19357. Nifty Resistance:19690 and 19898.
NSE:NIFTY
by Happy_Candles_Investment
Middle East Crisis send shivers down investor's spines. Middle East Crisis send shivers down investor's spines. Things are not looking that great as Nifty will probably look for further support levels. It will be a surprise if spot Nifty hold ground and closes above 50 days EMA (Mother line) that is 19604. If 19604 is broken further supports for Nifty can be found at the levels of 19357. Resistance on the upper side will be at 19878. Let us see where Nifty can hold 19357 by end of this week. Only saving grace is DIIs are buying and buying big since last few days against FII selling.
NSE:NIFTYShort
by Happy_Candles_Investment
Nifty Looking forward with strong positive biasNifty looking strong and holding above the strong support of 19770 can be good positive other supports for spot Nifty are at 19731, 19680 and 19634. Major support closing below which the positive trend can change is 19481. Crossing and closing above 19856 will unleash more upside to Nifty and take it towards 19942, 20053 and finally 20219. Things are looking strong as of now it the level of 19770. The only catch and red flag being further escalation in Middle East crisis and Third of Fourth party joining the ongoing conflict.
NSE:NIFTYLong
by Happy_Candles_Investment
Reverse Head and Shoulder pattern forming in Nifty (Positive)On a closer look at the Nifty hourly chart and smart recovery from the lows of the day, it seems that Nifty is forming a 'Reverse Head and Shoulder' pattern. This is very effective and very positive pattern. This pattern will come into effect if we get a daily closing above 19851 or thereabouts. The supports on the lower side for Nifty will be at 19712, 19600 and 19481. Resistances on the upper side are at 19851, 19891, 19942 and 20009.
NSE:NIFTYLong
by Happy_Candles_Investment
19831 proved as resistance as depicted yesterday. Read Yesterday's idea and look what was said about 19831. Look at the chart and see what 19831 did. Yesterday the resistance level was given 19831 look what happened today. Look at the specific area in the circle. That ladies and Gentlemen is power of Technical analysis. All the other resistance and support levels remain the same. As we could not cross the resistance today we might start negatively or very negatively and Nifty might stage a recovery later in the day or couple of days. 19690, 19663 or 19622 can prove to be important supports.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Looking Strong and rampaging ahead.Nifty is touch wood crossing resistance after resistance and rampaging ahead as if these resistances where mere matter of small hurdles to cross. The next major resistance for Nifty is just around the corner at 19831 which it might again try to cover by opening gap up tomorrow. If not gap up it will take some doing to cross 19831 and 19994. As they are strong resistances. Support for Spot Nifty on the lower side remain at 19722 and 19572.
NSE:NIFTYLong
by Happy_Candles_Investment