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Niftysupportandresistance

Nifty trying to bounce but few hurdles remain. Nifty is trying to bounce after forming the base but few important hurdles to cross next week if the rally has to sustain. The immediate resistances for Nifty will be 22557, 22668, 22800 and 23056. If these resistances are crossed we will have the Mother line and Father line resistances waiting for Nifty at 23116 and 23458. In the Middle of this tough resistance zone of Mother line and Father line there is also a trend line resistance around 23300. But these will come into play only if we are able to cross the immediate resistances mentioned earlier. To know what mother father line resistances are you will have to read my book The Happy Candles Way To Wealth Creation. It is one of the highest rated books on Amazon in its category. In case of the rally fizzles out the support zones will be near 22240, 21964, 21782 and finally 21281. In unlikely circumstances of 21281 broken and we get a weekly closing below it the market will fall into a major bear grip coming out of which can take a lot of time as this is the Election 2024 day low. As of now shadow of the candle looks slightly positive however FIIs are still in the selling zone despite the chart showing the signs of bottom formation. Next week is going to be very interesting. It will be interesting if FIIs finally show some interest of coming back or continue their selling mode. Little bit of support from FII here could possibly drive the rally further and add more steam to this humble beginning of what we can call a gentle up move rather than a bull run. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Good closing by Nifty, Now all eyes on tomorrow's weekly closingAnother fantastic day of recovery by Nifty which closed 207 points up today. From the lows of the day recovery was 310.6 from the lows of the day. Thus last 2 days have seen a significant up moves. The resistances now for Nifty remain at 22556, 22800 and 22981 before we reach the major resistance zone of 23139 to 23467. This zone includes a Mother line, Father line and Trend line resistance. It will take some major good news or significant buying by FII to take us into Bull zone which awaits us above this zone. Supports for Nifty remain at 22240, 21954, 21782 and 21281. Below 21281 there can be a bear mayhem which can see Nifty slipping into recession mode. For now that zone is far away and shadow of the candle currently looks neutral to positive. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty trying to stage a comeback but big resistances approachingNifty is in the process of staging a grand come back. Toda it closed with heft gain of 1.15% and 254 points. However there is an important trend line resistance including the supply zone between 22394 and 22455. If we get a closing above 22455 by the end of this week we can assume it will be a come back otherwise this bounce can be termed only as a technical bounce from the oversold zone. Once we get a closing above 22455 the next resistances will be at 22692 and 22981. Post this there will be Mother line, Major trend line and Father line resistance which can be seen in the chart at 23163, 23411 and finally 23477. It is a long way to go before we reach there. Bulls can claim a dominating position only after a closing above 23477. Supports for Nifty remain at 22183, 21954 and 21576 currently. All eyes on the closing we get this weekend. Positive or positive to flat closing required in the next 2 days for bull run to gather proper steam. Shadow of the candle currently looks neutral to positive. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Intraday Support & Resistance Levels for 04.03.2025Monday’s session started on a positive note with a gap-up, as Nifty touched a high of 22,261.55 but failed to sustain and dropped to 22,004.70. It later recovered slightly, closing at 22,119.30, losing just 5 points from the previous close. The Weekly Trend (50 SMA) remains negative, while the Daily Trend (50 SMA) is now in oversold territory. Demand/Support Zones Near Support: 21,281.45 (Low of 4th June 2024) Far Demand/Support Zone (Daily): 20,769.50 - 20,950 Supply/Resistance Zones Near Supply/Resistance Zone (Daily): 22,508.40 - 22,625.30 Far Supply/Resistance Zone (Weekly): 22,720.30 - 23,049.95 Far Supply/Resistance Zone (Weekly): 23,222 - 23,807.30 Outlook Nifty has declined 4,272 points (16%) in the last 5 months from its All-Time High of 26,277. The Daily 50 SMA is now oversold, which could lead to some buying near the 22,000 psychological level. However, multiple gaps and fresh supply zones on the Daily and Weekly charts indicate that any upside move is likely to face selling pressure at higher levels. A Sell-on-Rise strategy remains favorable until a strong reversal is confirmed.
NSE:NIFTY
by PriteshPalan
Market Still Searching for Bottom. Nifty is still searching for a firm bottom from where it can form a base and launch a comeback. RSI of Nifty on Weekly chart is at 34.15. The weekly RSI was this low only during COVID fall when market RSI had gone below the level of 20. Most of the levels are being broken down week after week and day after day. Now Nifty supports are at 22054 and 21813. 21813 seems to be a very strong support if this support is broken we have only 21281 support which was the Election day low where there was a fear of regime change. If 21281 is broken then 20507 and 19706 Father line of weekly Chart. Daily RSI is at 22.4 which indicates Nifty might be near the oversold zone. Upside resistances for Nifty are at 22588, 22743. Crossing these 2 hurdles will bring in a formidable Fibonacci resistance of 23214 and 23334 (Mother line of Weekly chart) into picture. Bulls can make a come back only after we get a closing above 23334. Amongst all these negative indications Nifty 50 PE valuations are at 19.7. The 10 year Average PE of Nifty 50 is at 23.5. Which means lot of stocks are trading below their 10 year Price to Earning average and value buyers can see an opportunity here for long term investment and they can start collecting fallen stars. Daily Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Long Term Nifty Outlook Based on 2023 Fibonacci levels. Based on the Fibonacci levels plotted from the point from where rally started on 2023 towards the peak and reverse Fibonacci from the same 2 points. We can make the following deduction: Major Supports for Nifty can be around: 22500, 22169, 21845. Negative scenario as of now seems to be near 21227, 20507, Father line support of Weekly chart 19710. Worst case scenario 19170 or 18769. (Possible but improbable) But you never say never. Major Resistances for Nifty will be at: 23214 Fibonacci level resistance, 23351 Weekly Mother line resistance, 24921 and then previous peak at 26277. Best case scenario for Nifty to make a come back with a bang and show us a new high near 28000+ levels (Possible but improbable) But your never say never. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Intraday Support & Resistance Levels for 25.02.2025Monday’s session saw Nifty opening with a massive gap-down of over 185 points at 22,609.35, attempting a minor recovery to 22,668.05, but eventually slipping to a low of 22,518.80. It closed at 22,553.35, losing 242 points from the previous close. Both the Weekly (50 SMA) and Daily Trend (50 SMA) are now negative, signaling weak market sentiment. Demand/Support Zones Near Support: 21,281.45 (Low of 4th June 2024) Far Demand/Support Zone (Daily): 20,769.50 - 20,950 Supply/Resistance Zones Near Minor Supply/Resistance Zone (5m): 22,605.55 - 22,617.80 Near Supply/Resistance Zone (15m): 22,763.20 - 22,812.20 Near Supply/Resistance Zone (75m): 23,176.15 - 23,235.50 Far Supply/Resistance Zone (75m): 23,248.45 - 23,301.75 Far Supply/Resistance Zone (125m): 23,316.30 - 23,409.65 Outlook With Nifty breaking and closing below the key 22,600 - 22,800 support zone, bulls are struggling to hold ground. This breakdown confirms a Lower High - Lower Low pattern, reinforcing a Sell-on-Rise strategy. Unless Nifty reclaims 22,800 decisively, expect further downside pressure.
NSE:NIFTY
by PriteshPalan
Reverse Hammer in Nifty (confirmation pending) sign of reversal.A reverse hammer pattern is formed in Nifty in the weekly charts. Usually This kind of formation signals trend reversal. For reversal to be successful we need a closing next week above 23044. If this happens investors and traders can breathe a sigh of relief from the on going market correction. If the reversal is not successful we might see Nifty fall further to 22427 or in the worst case scenario the next supports will be at 22132, 21718 or even 21302 as of now. On the positive side if the reversal is successful we may see Nifty rising to 23383, 23819, 24205 or close to 25K if we get a weekly or monthly close above 23044 level. Another point which goes in favour of Nifty is that weekly RSI currently is at 39.39. Last time the weekly RSI was this low was in March 23 when it was 38.80. After this point we saw a rally in Nifty which lasted almost 18/19 months. So a further small dip post which we can see a come back in Nifty as per the Relative Strength Index. Next week and the week after than will be critical for reversal of Nifty. Shadow of the candle neutral to positive this week. We might be near a temporary bottom (confirmation pending). Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Intraday Support & Resistance Levels for 20.02.2025Wednesday’s session saw Nifty opening gap-down, touching a low of 22,814.85, before staging a sharp recovery to 23,049.95. However, selling pressure kicked in at higher levels, leading to a close at 22,932.90, down 12 points from the previous close. The Weekly and Daily Trends (50 SMA) remain sideways, reflecting market indecision. Demand/Support Zones Near Demand/Support Zone (Daily): 22,620.35 - 22,910.15 (Tested multiple times) Far Support Level: 21,281.45 (Low of 4th June 2024) Far Demand/Support Zone (Daily): 20,769.50 - 20,950 Supply/Resistance Zones Near Supply/Resistance Zone (75m): 23,176.15 - 23,235.50 Far Supply/Resistance Zone (75m): 23,248.45 - 23,301.75 Far Supply/Resistance Zone (125m): 23,316.30 - 23,409.65 Far Supply/Resistance Zone (Daily): 23,443.20 - 23,807.30 Far Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30 Outlook For the last four trading sessions, Nifty has been finding support near 22,700 - 22,800, but struggling to close above 23,000. If it crosses 23,000 - 23,050, we may see an up move toward 23,200. However, multiple supply zones between 23,176 - 23,400 could act as resistance, leading to renewed selling pressure.
NSE:NIFTY
by PriteshPalan
Mother Line again resisting and Trendline supporting. Something got to give now in a big way as Mother line 50 Hours EMA of 1 hour chart is resisting the up move and trend line formed from the base of recent low is providing support to the Nifty. Few things can happen here which everyone can observe for Educational purpose: 1) If Trend line is broken Nifty will again try to seek support at 3 month or more cyclical points of 22802 or 22722. If 22722 is broken Nifty may find itself again searching for Bottom which can be temporarily near 22451. 2) Second thing that can happen is Nifty can just like last 2 days stay range bound and trapped between trend line supports and resistance in the range of 22722 to 23022 (Mother line of 50 hours EMA). 3) We might get a break out if we get a closing above 23022 (Mother line). In such a scenario the next resistance levels based on cyclical 3 month or older data seem to be near 23108, 23200 or 23283 (200 Hours EMA or the Father line). If we get a closing above Father line 23283 the next resistances can be 23494 or 23804. This is what short term outlook of Nifty looks like. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Nifty stopped by Trendline and Mid-Channel Resistance. Nifty again today was stopped by the trendline and mid channel resistance inside the falling channel. A closing above mid-channel around 22967 will enable some strength to Nifty. However closing above the Mid-Channel will not be enough as there are 50 hours resistance line or the Mother line of hourly chart nearby as well. This Mother line is at 23043. The next resistance if we get a closing above 23043 will be near 23200. After this hurdle is crossed the next hurdle is near 23307. 23307 is the Father line of hourly chart. Post crossing this area the channel top will be near 23494. Supports for Nifty right now are at 22802, 22745. If 22745 is broken channel bottom support is near 22451 and post that trend bottom support near 22114. The closing was negative today but shadow of the candle is neutral to positive. Which can be considered a possible sign of reversal. However it is to early to call it a clear reversal until we get a closing above 23494. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Great 234 point comeback by Nifty from lows of the day. Nifty made a great comeback of 234 points from lows of the day that is 22725 to close at 22959. The momentum has to carry forward tomorrow in order for any rally to sustain. Only when we get a closing above Mother and Father line Bulls can take a sigh of relief. Mother line and Father line are at 23530 and 23587 respectively. Before we reach there there are cyclical resistances 3 months or older at 22984, 23229 and 23435. Supports for Nifty will be at 22725, 22438 and 22159. If we get a weekly closing below 22159 the next supports will be at 21810 and 21302 only. So despite a good closing we are not out of danger zone as of now. Shadow of the candle is neutral as of now. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data which is 3 months or older cyclical points. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Intraday Support & Resistance Levels for 17.02.2025Friday’s session saw Nifty opening with a gap-up, but it failed to sustain the momentum. After hitting a high of 23,133.70, it reversed sharply, making a low of 22,774.85, testing the Daily Demand Zone (22,642.60 - 22,910.15) for the third time. A partial recovery followed, but Nifty still closed at 22,929.25, losing 102 points from the previous close. The Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, signaling indecision. Demand/Support Zones Near Demand/Support Zone (Daily): 22,642.60 - 22,910.15 (Tested multiple times) Far Support Level: 21,281.45 (Low of 4th June 2024) Far Demand/Support Zone (Daily): 20,769.50 - 20,950 Supply/Resistance Zones Near Supply/Resistance Zone (75m): 23,248.45 - 23,301.75 Near Supply/Resistance Zone (125m): 23,316.30 - 23,409.65 Near Supply/Resistance Zone (Daily): 23,443.20 - 23,807.30 Far Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30 Outlook Nifty’s repeated tests of the daily demand zone suggest that buyers are still active, but a break below 22,640 - 22,600 could trigger further downside toward 21,281. On the upside, a move above 23,250 - 23,300 could open the door for a push toward 23,800 - 24,000.
NSE:NIFTY
by PriteshPalan
Nifty did well to hold on to crucial support. Can it hold ?Nifty did well today to bounce back from the lows of the day at 22774 to close at 22929. Holding this support is key. Under the pressure of relentless selling the market is in bear grip as of now. This is a good time to identify long term investment opportunities. Gaining immediate profits and fast recovery looks little difficult as of now. (You can not be 100% sure about the tops and bottoms of the market.) Next few months will give ample opportunities to average/add on bounce only. Mother father line supports and Resistances are the key to any investment during the bear phase of market. Patience of investors will be tested in the coming few weeks and months. Reshuffling your portfolios in favour of Fundamentally strong stocks that are going or still above 50 and 200 weeks EMA or Mother father line will be key. This is a stock pickers market. The forth that had build up post COVID rally is being cleared. Corrections are healthy sign for long term investors. Stock market is a place where money is transferred from the impatient to the patient. Pain will remain in the market for a short to medium term but hopefully great time and great rally awaits us in medium to long term. This next few weeks and probably months will test the new investors. Those who have seen a few Bull and Bear cycles know that good times do return eventually on the browsers. Nifty Supports remain at: 22758, 22159, 21810 and finally 21302. Nifty Resistances remain at: 23128, 23259 and 23435. Major hurdles for Bulls remain near Mother line at 23554 and Father line 23594. After a closing above 23838 only Bulls can be back into the game. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
1
Nifty Intraday Support & Resistance Levels for 12.02.2025Tuesday’s session saw Nifty opening flat, made high of 23,390.05, it failed to hold near demand zones and plunged to a low of 22,986.65. It closed at 23,071.80, losing 310 points from the previous close. The Weekly and Daily Trends (50 SMA) remain sideways, indicating a lack of clear direction. Demand/Support Zones Near Demand/Support Zone (Daily): 22,642.60 - 22,910.15 (Tested) Near Minor Demand/Support Zone (30m): 22,786.90 - 22,843.30 Far Support Level: 21,281.45 (Low of 4th June 2024) Far Demand/Support Zone (Daily): 20,769.50 - 20,950 Supply/Resistance Zones Near Supply/Resistance Zone (75m): 23,248.45 - 23,301.75 Near Supply/Resistance Zone (125m): 23,316.30 - 23,409.65 Near Supply/Resistance Zone (Daily): 23,443.20 - 23,807.30 Far Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30 Outlook Nifty’s sharp decline below 23,100 suggests increased bearish momentum. The next key support lies around 22,642 - 22,900, and a break below this zone could push it further down. On the upside, 23,250 - 23,400 remains the immediate resistance.
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 11.02.2025Monday’s session saw Nifty opening negative, making an initial high of 23,568.60, but gradually sliding down into the 75-minute Demand Zone (23,327 - 23,381.60). It touched a day low of 23,316.30 before closing at 23,381.60, marking a 178-point loss from the previous close. The Weekly and Daily Trends (50 SMA) remain sideways, indicating indecisiveness in the market. Demand/Support Zones Near Minor Demand/Support Zone (15m): 23,141 - 23,205.70 Far Demand/Support Zone (30m): 22,786.90 - 22,843.30 Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 (Tested) Far Support Level: 21,281.45 (Low of 4th June 2024) Far Demand/Support Zone (Daily): 20,769.50 - 20,950 Supply/Resistance Zones Near Supply/Resistance Zone (15m): 23,557.80 - 23,591.25 Far Supply/Resistance Zone (15m): 23,644.10 - 23,694.50 Near Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Far Supply/Resistance Zone (Daily): 24,601.75 - 24,782.15 Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30 Outlook Nifty is struggling to hold key support levels, with the 23,300 zone acting as a crucial demand area. If this level fails, we could see a deeper correction towards 23,100 - 23,000. On the upside, 23,600 - 23,700 remains a strong resistance zone. A sustained move above 23,700 may indicate bullish momentum, while a break below 23,300 could trigger further downside.
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 10.02.2025Friday’s session was highly volatile, with Nifty opening positive and making an initial high of 23,683.90 before dropping to 23,493.60. It then rallied again to a day high of 23,694.50, entering the 5-minute Supply Zone, only to reverse sharply to a low of 23,443.20, taking support at the 15-minute Demand Zone. A partial recovery followed, and Nifty closed at 23,559.95, losing 43 points over the previous close. Both the Weekly & Daily Trends (50 SMA) remain sideways. Demand/Support Zones Near Demand/Support Zone (75m): 23,327 - 23,381.60 Far Minor Demand/Support Zone (15m): 23,141 - 23,205.70 Far Demand/Support Zone (30m): 22,786.90 - 22,843.30 Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 (Tested) Far Support Level: 21,281.45 (Low of 4th June 2024) Far Demand/Support Zone (Daily): 20,769.50 - 20,950 Supply/Resistance Zones Near Supply/Resistance Zone (15m): 23,644.10 - 23,694.50 Near Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Far Supply/Resistance Zone (Daily): 24,601.75 - 24,782.15 Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30 Outlook Nifty remains range-bound, facing resistance near 23,700 while finding support at 23,450. A break above 23,700 may lead to a move towards 24,000, while failing to hold above 23,450 could trigger further downside. Stay cautious in this sideways market!
NSE:NIFTY
by PriteshPalan
Can Nifty overcome Mother, Father and the Trendline resistances?With the results in Delhi elections that will suit the market fervor can Nifty break the triple whammy of Mother, Father and Trendline resistances which are not allowing it to fly? The answer to the question can be yes. But what is important is if Nifty can sustain the opening that it might get and hold on to the levels? This will depend again on FII activity. FII as we know are on the selling side continuously. Also there is an upcoming New Income Tax bill to be tabled. Investors will wait and see the action taken on the LTCG and STCG taxes on the income. No bad news can be a good news with respect to this aspect. After the income tax relief received and RBI rate cut. Supports for Nifty remain at: 23435, 23177 and 22967. If the major support at 22967 is broken there can be a free fall in the market till the levels of 22758, 22159 or even lower as depicted in the chart. Resistances for Nifty remain at: 22619 (Father Line, 200 days EMA), 22658 (Mother line, 50 days EMA), 22838 (Major trend line resistance). If 22838 is crossed and we get a closing above it we can see the levels of 24084, 24223 and 24482. For levels above 24482 we will have to get a weekly closing above the same first. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Intraday Support & Resistance Levels for 07.02.2025Thursday’s session saw Nifty opening with a gap-up, touching a high of 23,773.55 in the opening minutes, but failing to sustain. It dropped to a low of 23,556.25 before closing at 23,603.35, losing 93 points over the previous close. The Weekly & Daily Trend (50 SMA) remains sideways. Demand/Support Zones Near Demand/Support Zone (75m): 23,327 - 23,381.60 Near Minor Demand/Support Zone (15m): 23,141 - 23,205.70 Near Demand/Support Zone (30m): 22,786.90 - 22,843.30 Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 (Tested) Far Support Level: 21,281.45 (Low of 4th June 2024) Far Demand/Support Zone (Daily): 20,769.50 - 20,950 Supply/Resistance Zones Near Supply/Resistance Zone (5m): 23,686.70 - 23,701.90 Near Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Far Supply/Resistance Zone (Daily): 24,601.75 - 24,782.15 Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30 Outlook Nifty broke above a key Daily Supply Zone but couldn't sustain, falling from 23,800 to 23,500. The next crucial resistance lies at 24,000 - 24,250. Only a breakout and sustained move above this zone could shift the trend from sideways to bullish.
NSE:NIFTY
by PriteshPalan
Two important Resistances to conquer for Nifty ahead. There are 2 important resistances for Nifty ahead which need to be conquered for the Bull run that started post budget to sustain. These 2 resistances are at 23630 and 23809. Today Nifty made a good comeback from lows of the day which was near 23556 to close at 23603. The resistnace near 23809 acted again as Nifty plummeted from the level of 23773 to fall to 23556. The trend line shown in the chart acted as support for Nifty to come back into the game. There are 3 important events coming up later. RBI Policy where market is expecting a rate cur. Delhi election results and finally Income tax bill to be tabled in the parliament. Market is fearing a little bit and hoping that there is no bad news related to LTCG or STCG etc. in the bill. Nifty supports remain at: 23556, 23498 and 23484 (Mother and Father line of the daily chart). If this line is broken we can see Nifty falling to old support system of 23376 and 23222. Closing below 23222 can bring the Bears back into the game and calling the shots again. Nifty Resistances remain at: 23630 and 23809. If these to resistances are conquered we can a strong up move towards 24K level with resistances at 23991, 24197 and 24344 level. Above 24344 level Bulls will come out of ICU and start taking control of the system. Shadow of the candle right now is absolutely neutral. Tomorrows closing will be very important a closing above 23630 will be good but closing above 23809 will be great. Similarly a closing below 23556 will make the market weak. Nicely balanced right now. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTY
by Happy_Candles_Investment
Nifty tried to consolidate today after the BO yesterday. Nifty did well to consolidate and end above 50 and 200 days EMA today Nifty closed at 23696 and the Mother and Father lines are at 23664 and 23620 respectively. These Two lines will continue to act as support for the coming days and sessions. Nifty faced a very stiff resistance today as expected near 23800. It will not be easy to cross this resistance. This was made clear by us in earlier messages. Exit poll results, followed by RBI rate cut followed by actual Delhi state election results in favour of market expectation can lead to a positive sentiment build up and these levels can be taken down and Nifty can even regain 24K levels in the coming time. Nifty supports remain at: 23664 (Mother line), 23620 (Father Line), 23346 and 23222. Below 23222 weekly closing Nifty will become very bearish. Nifty Resistances remain at: 23809, 23883, 23984 24108 and finally 24197. Above 24197 Weekly closing Nifty will become very bullish. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Intraday Support & Resistance Levels for 05.02.2025Tuesday’s session was strong for Nifty, as it opened with a 149-point gap-up, made a low of 23,423.15, and surged to a high of 23,762.75, entering deep into the Daily Supply Zone. It finally closed at 23,739.25, gaining 378 points over the previous close. The Weekly & Daily Trend (50 SMA) remain sideways. Demand/Support Zones Near Demand/Support Zone (75m): 23,327 - 23,381.60 Near Demand/Support Zone (15m): 23,141 - 23,205.70 Far Demand/Support Zone (30m): 22,786.90 - 22,843.30 Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 (Tested) Far Support Level: 21,281.45 (Low of 4th June 2024) Supply/Resistance Zones Near Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20 (Current price is deep inside the zone) Near Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Far Supply/Resistance Zone (Daily): 24,601.75 - 24,782.15 Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30 Outlook After taking support at the Daily Demand Zone on 27th January, Nifty has already rallied 975 points (22,857 to 23,762). However, the Weekly & Daily Trend (50 SMA) remains sideways. To break the lower high - lower low structure, Nifty must sustain above 24,250 in the coming days.
NSE:NIFTY
by PriteshPalan
Superb closing above Mother and Father Line Resistance. We had a very good closing today by Nifty at 23739 which is above Mother and Father line of resistance but there is a trendline resistance now at 23745 which Nifty was not able to cross today after briefly hovering above it as it made a high of 23762. The next resistances in line for Nifty if it is able to cross 23745 swiftly will be at 23883 and 24108. Closing above 24108 can bring the Bulls back into the game and take us to the next resistances at 24281, 24596, 24898 and finally 25K+ levels. Supports for Nifty are at 23663 (Mother Line support), 23619 (Father line support), 23421 and 23222. Below 23222 Nifty will become weak again and in such a scenario Nifty can fall to below 23K levels of 22976, 22797 or even 22316. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock or index. The Techno-Funda analysis is based on data that is more than 3 months old. Supports and Resistances are determined by historic past peaks and Valley in the chart. Many other indicators and patterns like EMA, RSI, MACD, Volumes, Fibonacci, parallel channel etc. use historic data. There is no guarantee they will work in future as markets are highly volatile and swings in prices are also due to macro and micro factors based on actions taken by the company as well as region and global events. Equity investment is subject to risks. I or my clients or family members might have positions in the stocks that we mention in our educational posts. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message. Do consult your investment advisor before taking any financial decisions. Stop losses should be an important part of any investment in equity.
NSE:NIFTYLong
by Happy_Candles_Investment