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NIFTY 50 all set to fallNIFTY 50 is currently trading around 18727 and has reached at major Daily and Weekly resistance area and current price action doesn't show any signs that it break break the resistance so my idea is it will be bearish during this week. Below is the possible sell opportunity Sell around 18727 STOP LOSS: 18803 TAKE PROFIT 1: 18559 TAKE PROFIT 2: 18383 use proper money management and this analysis is for educational purpose only and not a financial advise.
NSE:NIFTYShort
by tuahawaqar
Nifty Closed above imp resistance, holding above it important. Yesterday we had given 18721 as an important resistance for Spot nifty. Today it has closed just above it which is a good sign. It was not a strong close but it was a good close. Key Resistances now are 18778, 18824 and previous All time high of 18887.6. Supports for the Nifty will be at 18721 it is a weak support as of now. 18683, 18639 and 18572. Relative Strength Index of Nifty is above 73 and the chart is going in the area again where Nifty will soon if not tomorrow require a little bit of consolidation or cooling down.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Trade Setup (7-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. Nifty moving in triangle pattern from Daily Time Frame and from past 3 days price action was range bound and consolidating between 150 points from past 3 days. For tomorrow setup: 1.) If opens flat will buy only after break and retest of this triangle pattern. For target of near by Resistance 18700, 18720. 2.) If open gap up or down then will wait for price action and good setup to form as its range bound from past 3 days. will not trade if there is no good setup as it is from past 3 days. Support is placed at 18590,18560 and 18500 Resistance is place at 18665, 18640.
NSE:NIFTY
by TradeInsights
Good Closing on Friday, positive to start the new week expected.Due to Good Closing on Friday, positive to start the new week can be expected. We might have a positive gap up start on Friday if there is no negative news on the global or local level during the weekend. The resistances to look forward to are 18600, 18662 and finally 18742. Long term targets are 18887 and 19200+ levels. Supports at the same time remain at 18488, 18325 and finally 18048. closing below 18048 has potential to handover the control of the rally to the Bears.
NSE:NIFTYLong
by Happy_Candles_Investment
4
NIFTY--18700 or 18500 Observations:: ---->> Price is trading in range after opening gap up. consolidation + Bullish = Sell @ Resistance.(18700 Resistance) Consolidation + Bearish = Buy @ Support (Gap may acts as Support.) If price showing bullish pressure towards 18700, wait here for reversal may happens, previous strong fall area. if price comes back to 18450-18500 levels, look for buy. if price breaks 18575 zone retest sell for target of 18500 zone. After break retest in needed to sell. Previous strong resistance may turned to be support @18450 range.
NSE:NIFTY
by IIT-Trader