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Nifty 50 Weekly Market OutlookWeekly Review Nifty 50 continued to fall for the 5th week straight. The index has retraced -3.64% from its all-time highs. Although in mid-week bulls tried to outnumber the bears as index witnessed a good rally till 19,585 levels but was soon rejected as it faced huge selling pressure pushing the index to 19,265 with a gap down opening the very last day of the week. Week Ahead : On Daily charts, the Nifty 50 index seems to form a falling wedge which shouldn’t go unoticed as we have seen a euphoric rally in past mid week. This indicates a strong push by bulls to regain their fort but that’s a conditional outlook if the index is breached beyond the falling trendline (downward sloping-upper trendline) with sustained move till 19,300-19,375. A break above 19,600 is a crucial resistance for any rally beyond that level and given the fact that market still holds 19,494 as crucial level. On the lower side if the selling pressure weighs heavy, a possibility of 19,194 , 19,076 and 18,977 can’t be ignored.
NSE:NIFTY
by chandakpulkit
Nifty's unsuccessfully attempts to break free for down trendNifty's unsuccessfully attempts to break free for down trend was successful in breaking one down trend but the next trend line and resistance near 19584 was too tough for it to conquer. As Nifty was unsuccessful in breaking the trend bears capitalized and brought the nifty below both 50 and 200 hours EMA. Now Nifty rests on delicate support of 19365. This is a weak support and if bears attack again this support may not hold. Next support for Nifty in such a case can be near 19310 and 19252. If 19252 is broken Nifty can yield control to the bears who may try to push it further down to 19164, 19050 or even below 19K by the end of this month. Resistances on the upper side 19437 (Strong Resistance now) followed by 19479 and 19538. But things look a little dull for weekly closing. In the Background Speech by Powell in US Fed Jackson Hole Symposium tomorrow will be key to future of global markets. Right now things do not look good as the signals are that US FED may continue with the Hawkish stand.
NSE:NIFTYShort
by Happy_Candles_Investment
Nifty levelsNifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
8
Nifty levelsNifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
NIFTY--Liquidity @19650 and @19300 ??Nifty index price is turned to be bearish from a ranging... now the price is near to its bullish gap... If this acts as support and trendline breaks price is said to be bullish again... clears the liquidity @19600-19650 levels... be on bearish side until price breaks trendline... If trendline breaks keep on buy side up to 19550 and 19600 levels. Keep safe before short side...as it is on important level of support @19300 levels. If price is continue to be bearish then we have a another bullish gap + Demand is located @19150 levels... before going down it may clears the liquidity on top side...keep safe... Totally Ranging from 19650-19150 levels.
NSE:NIFTY
by IIT-Trader
1