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Niftysupports

17166 proved to be good support in weathering Powell storm17166 proved to be good support in weathering Powell storm. After taking a support at this range we have seen a bounce in Nifty which is nearing it's critical 50 hours EMA resistance. It can also be seen in the chart that this zone is mid channel resistance for the channel ini which Nifty is travelling from around 10th of june. Immediate Supports and resistances are: Supports of Nifty : 17495, 17392 and 17259, 17166 and 17026. Final support should be considered at 16950. Bear Grip of Nifty can strengthen below : 16723. Resistances of Nifty : 17548, 17589 and 17736.
NSE:NIFTYLong
by Happy_Candles_Investment
Supports and Resistances for Nifty.Every meaningful rally is not complete or can not surge further without a healthy correction. What we are seeing today might just be that. At least we can say so until the Nifty falls beyond 16666. Until 16666 every call should be treated as a buying opportunity. If 16666 is broken then Bears may grip the market. 16666 is a distance away currently. The supports and resistances right now in front of us are: Resistances: 17992, 18117, 18371 and finally 18604. Supports: 17778, 17720, 17587 will be a strong support. Beyond that 17396 and 17113. Final Supports for the current rally: 16842 and 16666.
NSE:NIFTY
by Happy_Candles_Investment
Harmonic Butterfly flutter it's wings: Will fly up or down?The high that Nifty made today 17719 to 17832 will be tough to cross. Even if that is crossed or touched there is a major resistance beyond it which extends upto 18117. FIIs are buying relentlessly of late. May be their buying power can help us cross this important resistance. Investors should be aware of this zone and if there is a correction be prepared for Profit booking or partial profit booking. The support incase of correction will be at 17349, 17178 and 16930. Below 16930, 50 and 200 days EMA which are around 16600 will be major support. Only below 16600 bear will be again back in control of the market.
NSE:NIFTY
by Happy_Candles_Investment
3
Support for Nifty might be round the corner. (Weekly Outlook)It was a bad week for NIFTY all hopes of recovery vanished as NIFTY could not sustain above 200 EMA after failing to sustain above 50 days EMA last week. NIFTY is trapped in a downward parallel channel currently having broken even the mid channel support levels from where NIFTY can turn upwards now are at. Important Support Levels for NIFTY will be: 16340, 16135 (key support), 16009 and finally 15500 (Channel bottom). Important Resistance levels for NIFTY will be: 16484, 16616, 16858 and 17072.
NSE:NIFTY
by Happy_Candles_Investment