NIFTY analysis for tomorrow 25th Jan, 202217000 is a crucial support for NIFTY. If breaks and sustains then 16800 can be seen.
Can show recovery only if sustains abv 17200 and go till 17500.
Niftytomorrow
Nifty Review and Analysis for 10th August 2021Nifty has been trading between 16200 to 16300 from last 4 trading days. On 9th August it came for selling first from 15300 to 16236 then 16265 to 16175. As I said earlier selling is expected below 16300 and below 16236 Nifty can come up to 16145 and on 9th august it came to 16175, 30 points difference.
Earlier I said that the Idea Vodafone news can affect the market but we haven't seen any movement as expected. So what happened? The day Idea Vodafone news came in, the same day or next day there was a news that Govt. of India decided to abolish Retrospective tax. If you want to know more about that just search and read.
For now resistance for Nifty is 16250, 16300 and 16350.
Support for Nifty is 16050, 16145 and 16200.
Look for these levels for 10th August 2021.
At the time of publishing this SGX Nifty is trading at 16290. Support for SGX Nifty is 16200, 16100 and 15950.
US market is Negative and rest global market is mixed.
Do your own analysis before taking any trade and trade with SL. Thank you.
Nifty Review and Analysis for 6th August 2021There was a negative pattern in Nifty which I marked for you guys in the 15 minute chart. Nifty opened 30 to 40 points up on 5th August from 4th August's closing price. Nifty opened at 16294 and from there selling came in the first 15 minute up to 16236 level, I have mentioned about these levels in my earlier post. From 11 am to 1 pm Nifty was in up trend and it moved from 16236 to 16350, and again made a new life time high. Interesting thing to notice is Nifty closed where it opened toady and below 16300.
Global market is positive but Asian market is negative.
At the time of publishing this SGX Nifty is trading at 16352, near it's lifetime high and selling is expected to come.
In Domestic market there is a news related to Vodafone Idea, which may affect the BankNifty tomorrow and if BankNifty stays in negative then it will affect Nifty too.
Below 16236 a selling is expected up to 16145. 16300 and 16350 is immediate resistance for Nifty. A triple top can be seen in Nifty.
For BankNifty 36000 and 36200 is immediate resistance and below 35650 a selling is expected up to 35400.
Do your own analysis before taking any trade. Trade with SL and always remember Yesterdays Quote. Thank You.
Nifty Review and Analysis for 5th August 2021So I said technically if Nifty gives breakout and sustain above 15960 then Nifty will be considered Bullish. I know many people were shorting at top but buyers were determined to take Nifty at 16000 and after Nifty touched 16000 on 3rd August a possible 16000 call short covering happened, which pushed nifty to 16145 on 3rd August. On 4th August Global market was positive, so Nifty opened gap up and made a new lifetime high of 16290. Market was overall choppy on 4th August.
So what pushed Nifty up?
I would like to list possible reasons as per me.
1. Positive GST collection data.
2. Positive Global sentiment.
3. And short covering of 16000 call.
As of now only US market is negative, so we may an effect of this tomorrow on Indian market too.
Nifty made a double top on 15 minute chart of 4th August.
At the time of publishing this SGX Nifty is trading at 16261.50 and flat.
Note:
If Nifty retest 16000 level and move upward from 16000 only then bullishness of Nifty will be confirmed technically. There is not enough room for Nifty to go up because it is already stretched. Nifty has moved almost 800 points in 6 days, 28th July to 4th August.
16043, 16145 and 16236 will act as support for Nifty and for now resistance is 16300.
Nifty may open gap down or flat on 5th August 2021. Watch these levels and always trade will stop loss order. Do your own analysis before taking any trade. I think now I don't have to write what happens on weekly option expiry day and European market.
In this scenario I'm sharing one quote with you guys and it is related to market. Let me know whether you heard it before or not.
"Be Greedy when others are fearful. And be Cautious/fearful when others are Greedy"
Thank you.
