Nifty Analysis Recap from yesterday: “For tomorrow, I wish to maintain the bullish stance with the first target of 19446 and then 19576. If we are going down, the first level to watch will be 19310.” 19446 level never came into the picture today, but 19310 looked quite vulnerable to a breach today. The open…
Nifty Analysis Recap from yesterday: “On the 1hr TF, Nifty has made an odd-looking W pattern, technically its a bullish sign but we need confirmation of the same by taking out the 19310 resistance soon.” A look at the chart will make you a believer in technical analysis. We required a gap-up to go past…
Nifty Analysis Recap from yesterday: “The levels have not changed from yesterday, the first resistance is at 19226 and the 2nd one is at 19310. I am staying neutral till 19226 is not taken out, seems like it could be even done in the forenoon session.” The gap-up took out my resistance of 19226 and…
Nifty Weekly Expiry Analysis Between the last expiry and today, Nifty has accumulated 299pts ~ 1.59% points. Most importantly it has broken away from the crucial support of 18880. As it stands Nifty is below the resistance of 19310 — but with the momentum it has gathered, seems like it will get tested this weekly series. Nifty…
Nifty Analysis Recap from yesterday: “Since we retraced the 38.2% level of 19226 today and the reluctance to go up might be confidence-building for the bears. Also the 23.6% level forms a base for further movements. The issue is that we cannot go outright bearish now, we need further proof of that. Ideally, the 18880…
Nifty Analysis Recap from yesterday: “Even though we added 93pts today, I have still not changed my stance to bullish. 19226 is my first level to watch out which coincides with the 38.2% retracement level of the recent fall. Then the most important zone of 19310. Ideally, I wish to go long only if the…
Nifty Analysis Recap from yesterday: “For tomorrow, I wish to maintain my bearish stance and expect Nifty to trade between 18880 and 18762. If we break 18762, my next target would be 18597.” Nifty took a breather today, opened gap up around the 18930 area and rose steadily. We did not retouch or break the…
Nifty Weekly Expiry Analysis Nifty fell a whopping 765pts ~ 3.90% between the last expiry and today. Most importantly it has retraced all its gains from 28th June to close below 18880. We will cover why that is relevant below, but this fall of 4% signals a reversal in trend. Even though VIX is still…
Nifty Analysis Recap from yesterday: “Since we are back at the 19310 levels, my point is — the next fall may be as deep as 18880 i.e 430pts ~ 2%. Nifty has no experience trading between these 2 zones earlier, so the supports should be equally powerless. I can mark the top of the candles as support…
Nifty Analysis Recap from yesterday: “Keeping the global macros in mind, I still wish to continue my bearish stance and expect the 19446 to be taken out on Monday and retest the 19310 soon.” If you watched the opening minutes, you would not have guessed the 283+ intraday fall possibilities. We had a flat open…
