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NIFTY-- RSI Divergence Is Negative??Nifty index is showing strong bullishness. Price breaks the All time High again and printed a New High. An Impulse move is identified but no corrective move detected, so those who wants to go long again, wait for the price to retrace back. wait for reversal in NIFTY index. Keep in long side as long as price in a channel. ---------------------------------------------------------------------------------------- What RSI Divergence saying is:: If the stock is making new highs, but the RSI starts making lower highs, this warns the price uptrend may be weakening. This is negative divergence. The trader can then determine if they want to exit the position or set a stop loss in case the price starts to decline.
NSE:NIFTY
by IIT-Trader
18
Nifty 50 Daily Chart Analysis - February 20, 2024Nifty 50 Daily Chart Analysis - February 20, 2024 Current Status: The Nifty 50 closed at 22,196.95, up 0.34% from the previous day. The intraday high was 22,215.60, and the low was 22,045.85. Trend and Moving Averages: The daily chart suggests a short-term bullish trend. The index recently broke above the 22,000 resistance level, confirming the uptrend. All major moving averages (50-day, 100-day, 200-day) are sloping upwards, further confirming the bullish trend. Technical Indicators: RSI: The RSI indicator is currently at 68.5, indicating the index is slightly overbought. This suggests a potential pullback in the short term. MACD: The MACD indicator is above the signal line and trending upwards, indicating bullish momentum. However, the histogram bars are starting to shrink, suggesting weakening momentum. Support and Resistance: The nearest support level is around 21,600-21,700, followed by 21,300. There is no immediate resistance level in sight. However, the psychological level of 22,500 could act as a resistance shortly. Key Observations: The breakout above 22,000 is a positive signal for the short term. Overbought technical indicators suggest a potential pullback before further upside. Lack of immediate resistance allows for potential price appreciation. Overall: The Nifty 50 is currently in a good position with a short-term bullish trend. However, investors should be cautious of potential pullbacks due to overbought technical indicators. Monitoring support and resistance levels and key economic data will be crucial for further analysis. Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Please consult with a qualified financial advisor before making any investment decisions. Additional Notes: This analysis is based on the closing price and technical indicators. Intraday analysis might provide different insights. It's important to consider fundamental factors along with technical analysis for a comprehensive understanding of the market. I hope this enhanced analysis is helpful!
NSE:NIFTY
by mayurdhagiya
4
Nifty trade setup (check caption for detail)Index witnessed a strong upmove after initial cool off Index witnessed highest ever closing today with Nifty surpassing the mark of 22200 level Going forward ⏩ now Support comes at 22100-22060 area on the lower end followed by 21930 The overall trajectory as can be seen by visible price action suggest that nifty can continue to inch further up towards 22500-22550 areas As long as support of 21930 -21950 is intact The best part for the day is the strong move in banking index especially in the giant Hdfc bank which suggest that the move can extend further by taking support of banking stocks & Twitter wala pratik2358 believes that as long as there is no proper bearish signal, just staying short is a waste of opportunity.
NSE:NIFTYLong
by pratik2358
NIFTY 50 Analysis For Feb 19th!Hello Traders, Here is a Brief Overview About The Analysis of NIFTY 50 For Feb 19th, There Are Total of one Support Zones Which You Need To Look For And Same 2 Resistance Zones And To Be Mentioned One Grey Area And There Are 4 Imbalance Zones! The Horizontal Lines From Volume To Volume And OI To OI Indicates The Market Range in Between For That Particular Day! The Blue Arrow Path Showing The Direction of The Nifty 50. Note : Those Levels Are Only For That Particular Day. Please Note That The Only Purpose of The Information On This Page is Purely Educational. We Are Not Registered with SEBI; Therefore, Before Making Any Financial Decisions OR Investing, Please Consult with A SEBI-Qualified Financial Advisor. We Don't Have Any Responsibility For Your Profits OR Losses. I Would Welcome Your Participation And Support in the Form of Likes, Comments, And Follow us to Offer Some Encouragement. Thank You.
NSE:NIFTYLong
by SuccessStrikes
1
NIFTY--Breakout or Breakdown??Nifty is now at important zone of resistance. this is the place to continue its direction or reversal. If you want to go for short, wait until the price breaks the trendline. A strong bullishness is observed from 21500 levels, on bottom side side we have strong demand zones lies in the range of 21400-21300 levels... if price breaks the trendline these demands push the price upside. so wait for clear direction in nifty to short from this levels. Now its time to think for complete short side. Yesterday a strong bullishness is observed if this is an exhaustion of buyers, after a complete range bound is observed. so its time to wait in nifty for Breakout or breakdown.
NSE:NIFTY
by IIT-Trader
7
NIFTY--Bearish View(21300)??NIFTY INDEX is at crucial zone to move further upside or downside... Price is trading in a channel... price broken the trendline grab the liquidity at 21600 levels. on topside price again created a one more trendline, as of now this is the resistance which lies at 21930-21950 zones. If this trendline acts as resistance, more chances of fall below key level. so if price comes to this levels wait for bearish turn... If there is no bearishness price will continue towards strong resistance at ATH, by facing intermediate resistances at 22050. After the liquidity grab On topside above trendline as well we have chance of fall back...so wait until price to break the key level. check the bullish case-- we have Rally Base Rally.
NSE:NIFTYShort
by IIT-Trader
22
NIFTY view on 14th January, 2024 (Likely headed below 21K)The whole move in NSE:NIFTY from the high of 22124 on 24th January this year looks corrective in nature. We seem to have completed W and X legs of the complex W-X-Y correction so far and Y seem to be unfolding. Y is typically the largest leg so we will likely see sub-21K levels soon. For the time being, #NIFTY is falling in a channel and top end of the channel is around 21850 which also falls within 50% - 61.8% of the move from X so far. At max, we might touch 21900 but that should be potentially the high zone after which we should keep heading lower.
NSE:NIFTYShort
by YetAnotherTA
NIFTY--Drop Base Drop??Nifty showing strong bullishness from Golden Zone... price is now at breakout level, if price breaks above then liquidity on topside will done at 21880 and 21950 levels. If price unable to breaks the upside...a Drop base drop is going to observe from this levels. On bottom side we are left with bullish gap 21400 levels... if price unable to break above price clears the bullish gap left below... buy setup and sell setup are given in the previous post, please go through it. If price tests the demand zones at 21300-21400 levels look for buy side.
NSE:NIFTY
by IIT-Trader
2
NIFTY--@Traingle Breakout??NIFTY Index is now at golden zone of fibonacci we are still left with some more points on the bottom side at 21500-21520 levels... previously a strong bullishness is observed as well from this zone... price is also trading narrow in a trendline most chances of breakout from this levels... wait for the price to break the trendline and retest for longer side... otherwise a continuation may happens... on bottom side we have strong support lies at 21300 levels... keep mark this zone as well,if it will continue downside will look for buy at 21300 levels... price clears the liquidity at 21600 levels.... ---------------------------------
NSE:NIFTYLong
by IIT-Trader
24
NIFTY--Bullish View (22.5K) ??Bullish Scenario:: ----->> if price breaks the trendline on topside.. price will reach ATH, and facing resistance at ATH.. before going to reach ATH ,on topside we have intermediate resistances at 22050 level.. ---->>if price opens upside above 21950...we have consolidation chance between the trendline and 22050. If price consolidation for the entire day, and price closes at ATH. Then we have chance of Gap down(If Bearish view)..continue moving downside and will test 21300 level of demand zones. or Continuation may happens to upside...Keylevel to watch--21800. if trendline acts as support...Wait for the trendline retest, Price again tries to test the trendline and moves upside for targets of 22450,22600 levels,
NSE:NIFTYLong
by IIT-Trader
21
NIFTY--Consolidation or Bearish??look for bearish from 22050 and trendline... Keep in long side as long as price is above the 21950 levels... if you want to go short wait for the price to facing the resistance from 21875 key zone If price takes the support at trendline or 21950 go bullish by keeping the SL at Key zone. we have a chance of consolidation between the zones 22050 and 21950 and manipulation to ATH, and then Distribution to downside. Keep safe here...price is now at turning point... Have a look at the Bullish Continuation and Bearish view for complete analysis.
NSE:NIFTY
by IIT-Trader
2
Nifty now rests delicately near important support zone. Nifty found rejection again from the same resistance zone described in Yesterday's idea linked to this message. Nifty Now rests near important support zone consisting of a trendline support, mid channel support and 200 hours EMA support the father line. All these are in the range between 21669 and 21600. Closing below 21600 has potential to awake the bears and take Nifty towards 21459, 21285 or even 21130 levels. Resistances for Nifty on the upper side will be 21810 to 21849 (Tough Resistance zone consisting of 50 hours EMA and other very strong multiple resistance). In case this zone is crossed the next resistance will be near 21970. The closing on Friday will be very important and may decide trend for the coming week or the next fortnight.
NSE:NIFTY
by Happy_Candles_Investment
Again the same resistance zone pushes Nifty back.As described yesterday again the same resistance zone between 21964 and 22063 traps Nifty and pushes it back. Trendline is giving Nifty support and not allowing to fall drastically. The same resistance trapping the candles again and again does not help the rally and makes it weak. Thus the shadow of Nifty is negative. Resistance and Supports for Nifty are as under: Nifty Supports: 21870, 21819, 21652 and finally 21587. (Below 21587 Nifty becomes very weak and bears come in full force). Nifty Resistances: 21964, 22063 and finally 22127. (Above 22127 the door for our target of 22357 opens).
NSE:NIFTY
by Happy_Candles_Investment
NIFTY--Double Top or Inverse H&S ??Need some more trading sessions to analysis, to confirm upside or downside?? I am sharing the important levels of Support and Resistance. These levels plays a crucial role in trading decisions, as they act as reliable markers of price movements. ------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further. ---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher. Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies. Trade safe...Thank you guys for your support
NSE:NIFTY
by IIT-Trader
11