The strength of Break Out we got on 25th Jan will be tested today due to US FED stance. Major supports are 16998 and low of Tuesday 16832. Below that we have major support at 200 days EMA 16954 which might also be tested. Key resistances ahead will be 17289 and 17425.
Looks like bottom for now may be made or might be around the corner. Play like Rahul Dravid not like David Warner. Supports on the downside are 16997, 16890, 16832, 16699 and finally 16425. Resistances on the up side are 17192, 17289, 17435 and 17589 above it will be 17687 200 hours ema and above it 17749 which is 50 hours EMA.
It seems in the time of uncertainty Gold still is the best answer. Global indices are crashing. Crypto is crashing. Only Gold is shining bright. Gold crossing and closing over 1849.49 will be good for 1868 and probably 1900 in a medium term.
These three levels are immediate supports for NIFTY 17280, 17222 and 17070 below these levels it will be 16764 and 16410...recovery can start from any of these points.
Reliance CMP 2477 has give an above Par to Good result. So many Acquisitions and right moves by the management. Plus as said earlier the value unlocking potential is huge considering IPO of JIO and other business segregations that may happen. For Long Term SIP buying is suggested to 3 to 5% of your Portfolio Value. For Short term it is trapped in the squeezing...
Fresh target 1 for Linde done CMP is 2774. Going towards Target 2. Those who have can do compounding. Trailing Stop Loss will be 2567 now. Fresh entry with a Stop loss at 2567 can also be taken but risk to reward ratio not as good as before when initial call was given.
Final support for Bitcoin before it crashes further can be USD 29609. If it closes below 29609 it can crash further to 22594 which is it's 200 Weeks EMA and major major support level. Guys who are invested in Crypto should think of alternative / Real investments like Gold, Equity and Bonds. If top Govts like USA, INDIA, Russia, China and EU don't adapt it and...
What we saw during most of last week starting from 18th Jan was an exhaustive selling rally lead by massive fall in IT index. On Friday Nifty formed a Green Doji indicating that further downside might be limited if NIFTY can sustain above 17707 which was high of Friday and more specifically above 17779 in the coming week. Resistances on the upper side if Nifty...
Nifty closed above our support zone of 50 EMA (Daily) and did not go below the danger zone as suggested in earlier message and Tweet.. Nifty closed at 17648. It should continue the positive momentum gained in last hour or so of trade resistance levels of 17782, 17814.9 and if all goes well 17917 and 18024 by mid of next week. In case Nifty closes below 17622 50...
Currently NIFTY is near triple support zone of 17762, 17709 and 50 EMA near 17623. It should take support from any of the three levels. If NIFTY closes below 17623 today or tomorrow...Next week onwards we can see further 4 to 8 % correction. Critical support zone for NIFTY here. Lets wait and watch
Levels to watch out for: On hourly charts the supports are 17877, 17819 is a major hourly 17723 final major support at 17617. Resistances on the upper side are 17973, 18024, 18085 major resistance, 18133, 18294 and finally recent peak of 18350. In last 6 days FIIs have sold worth Rs. 8805.81 Crores. ..That is huge selling. DIIs and Retail buyers are holding...
IT Index had given a major BO from the squeezing triangle. Mostly it is coming back to test the breakout. Major supports here are 37362, 37264, 37196 and finally 37125. Mostly IT should reverse from that range. Post re-testing is done IT will slowly consolidate and move towards making fresh highs above 39442. Our target of IT Index for 2022 is 40211.
Possible support levels of Nifty are where it is right now 17980 below this the level will be 17877, 17817 and 17704. Below these levels only 50 EMA that is 17618 is major support.
Once Gold has retested the 50 EMA Break Out which it might be doing since last sessions. Once the resistance zone of 1829 to 1833 is crossed Gold will march towards 1849 and 1868.96. Long term target for Gold is USD 1907.87. Supports on the lower side are 1814, 1777, 1753 and finally USD 1679.98
Nifty is rising in a steep channel the momentum can sustain if important resistances are taken down. Resistances on the upper side are 18294, 18345, 18440, 18510 and finally the ATH high of NIFTY which is 18606. The supports on the lower side are 18133, 17973, 17819, 17617 and finally 17553 which is 50 EMA. Below 17553 weekly closing the bears will take control of...
Atul CMP 10338.65 looks like completing the U formation. Crossing 10971 Target for now will be a fresh Breakout. Look at the perfect U it is forming.
Sun Pharma has crossed 855. Now the nest target will be 927. It is a long term Portfolio stock and can be bought at CMP, Can be bought in SIP, Can be compounded. (For Educational purpose only).
Since December 20th 2021 Nifty is following the channel shown in the hourly chart. The support zone for Nifty is 18125, 17957, 17888 and 17580. The resistances on the above side are 18270, 18343, 18466 which is a mid channel tough resistance to conquer. Above that level the previous peak of 18606 will be the resistance. If the peak is crossed Nifty can make...
