Mother line yet again comes to rescue of Nifty after the zone between 24340 and 24382 stops the growth of Nifty yet again. Once this zone is crossed only then Bulls can breath easily. Trend line resistance has also come into effect with absolutely no room for Nifty to go. So there should be a breakout in Nifty in either direction tomorrow. Shadows of the candles...
Good bounce back by Nifty after Mother Line confirms support. But we are still not out of the woods as there is a resistance zone near high of the today that is 24337 and 24382. (This is the resistance created by the gap down opening on 5th August. The starting and ending point of Such massive gaps always acts as a resistance zone while going up. The best way to...
Mother line or 50 days EMA again comes to rescue of Nifty today. There was a huge selling pressure when the Nifty reached day's high that is 24382. Market has closed at 23992 and the 50 days EMA is at 23965. As of now 50 days EMA is respected but the mood seems to be sell on rise so the support is becoming weaker. If 50 days EMA or Mother line is broken on closing...
Mother Line or the 50 days EMA comes to rescue for the Nifty today but can it hold? It looks little difficult due to the global Bear onslaught. In such situations we know from the Father, Mother and the small Child story that mostly Father line of 200 days EMA can provide proper support. However before we reach there and not necessarily we reach there as there are...
Major Global Event 1): Conflict in the Middle East is heating up with possibility of direct conflict between Iran and Israel increasing by every hour. Major Global Event 2): Japan has increased the interest rate by 0.25%. This is just the second hike in 17 years. Now US FED increases or decreases rates to control and Monitor inflation this happens and it has...
As we had discussed in yesterday's message after making a new high of 25078 there was strong profit booking in many stocks specially Mid, Small and Micro caps. Market breadth turned negative with 784 advances Vs 1588 declines. This is a natural phenomenon and we cant surely say how long the profit booking can go on. Nifty actually did well to close above 25K at...
Good Positive move by Nifty today trying to clear deck for 25K. Nifty right now is in no mood to stop but traders and investors should be very clear with the stop losses and Trailing stop losses as we have seen that when a new Peak or significant Psychological target is achieved there can be a bout of profit booking. Nifty may again dive downwards to find and...
Nifty again today tried to conquer 25K but fell short and reversed from 24971. Twice unable to conquer 25K has formed a temporary Double top type structure indicating weakness not massive but just a little bit. Weakness can creep in if the 24833 and 24773 are broken. Resistances on the upper side remain at 24887, 24957, 24999 and 25037. If 24773 is broken Nifty...
24773 is a critical support to watch going forward. If that support is not broken tomorrow or later this week we can see upside once again with resistances at 24871, 24957, 24999 (today's high) and finally 25037. Supports at the lower side are at as mentioned 24773, 24661, 24606 (50 hour's EMA (Mother Line) merging with Mid channel support. Making this support as...
The Fibonacci sequence when drawn on recent peak and valley is showing a decent upside still if a major trend line resistance near 24967 is crossed and we get a closing above it. In such a scenario the peak of the current up trend seems to be near 25593. We have got a decent closing above an important fibonacci level of 24707. This becomes an important support...
Support and resistances for Nifty almost remain the same after action today but the positives are that RSI is getting stronger, Trendline resistance is crossed and an additional support at 24210 is gained. The obstacle still remains at Mother Line that is 50 hours EMA currently at 24455. For Nity to be bullish we need a closing first above 24455 and then above...
As discussed in yesterday's video Mother line at 50 hours EMA and Trend line resistance stopping the march of Nifty again. Nifty again nose dived today to confirm support which it found at 25307. After finding the support Nifty recovered again today smartly to close at 24413. Mother line at 24481 and trend line resistance in the range of 24500/24525 range again...
In the video we have tried to explain the budget move of Nifty. We have tried to explain the sectors that can benefit from the Union Budget. We also tried to understand the Nifty trend, support and resistance levels for the same.
Market tried to stage a recovery after forming a temporary bottom near at 24362 to close at 24509. The recovery was good 147 points from lows of the day but ended just below 50 hours EMA Mother line which is at 24527. Closing above 24527 can help further recovery. Supports for the Nifty remain at 24465 and 24362. If 24362 is broken the only substantial support...
Nifty has closed 1 point below the 50 Hour EMA at 24530. (Mother line) - to know about the Mother, Father and Small Child story read The Happy Candles Way to Wealth creation available on Amazon. Supports for Nifty now remain at 24509, 24359, 24211 and 23985. (23985 is a very important 200 hours EMA support). Resistances for Nifty will be at 24351 (50 hours EMA),...
Nifty crosses strong resistance of 25720 for the first time. This opens the door for medium term target 25K+. Although there are few more important resistances to cross before this happens. The important resistances now are at 24837, 24887, 24937 and 25024. Top of the channel now seems to be at 25243. The support for nifty if it decides to cool the RSI seems to be...
Today's high 24661 a strong resistance point to watch out for. If Nity is not above to close above this level then we can see the fizz of the current rally going out and Nifty can go searching for supports in the short term. If we get a closing above 24661 the top of the trend seems to be near 24726 for now. Supports for Nifty seem to be near 24593, 24526, 24476...
Nifty touched and returned from an important trend line resistance today at 24635. During the course of day another point at This will be an important hurdle to cross before we reach another hurdle which 24615 also proved to be a resistance. If these two resistances are crossed next resistance will be at 24692. Supports for Nifty are at 24526 and 24476. the zone...