Nifty Weekly Expiry Analysis Nifty went up 236pts ~ 1.21% between the last expiry and today. The major highlight was its capability to defend the support of 19446 and then breach the resistance of 19776. Today we even retested the support of 19776 and it held and may pave the way for further upmoves. Nifty…
Nifty Analysis Recap from yesterday: “On the hourly chart — India replies with 5 white soldiers to the war news (3 white soldiers means 3 strong green candles). We have not taken out the 19776 resistance so far — but we are pretty close. I wish to change my stance from neutral to bullish with the first target of…
Nifty Analysis Recap from yesterday: ”For true bearishness 19350 or the recent swing low has to be taken out tomorrow. Well, I have a bearish bias because of the LONG PUT option — but the charts are not showing anything so far. If we bounce back from the 19446 level tomorrow also — I may be forced to close…
Nifty Analysis Recap from yesterday: “For Monday, I wish to continue my neutral stance but keep my options open for bullish moves. The moment 19776 is tested and broken — we can expect further participation to take Nifty much ahead. For the bears to make a comeback — the US markets have to close in DEEP RED today.” Nifty…
Nifty Analysis Recap from yesterday: “Although we had a good green day today — the body of the candle was not good enough. So I am not changing my stance from bearish to bullish instead, I am going with a neutral stance for tomorrow.” Everything went in the bull’s way today. The opening was gap-up followed by…
Nifty Expiry Analysis Between the last expiry and today, Nifty has only lost 6pts. Quite a rarity to see a flat close especially when we had some strong preceding moves. The recovery today gave Nifty a strong character change as well. It was looking a lot negative yesterday and further fall was looking obvious. Nifty…
Nifty Analysis Recap from yesterday: “The orange support and resistance lines remain the same, the bottom one is @ 19446, top one at 19776. We just completed an M pattern (double top) on the 1hr TF. For tomorrow I continue to remain bearish with the support getting broken in the opening 1hr. Ideally, we should…
Nifty Analysis Recap from yesterday: “My stance still remains bearish with the first downside target of 19446. The moment we break 19776 on the upside — I wish to exit the short stance and go long.” The first target of 19446 was not today even though we dropped 103pts in the opening 5mts. The low of today…
Nifty Analysis We are beginning a new weekly, monthly and quarterly (Q3 2023–24) series today. Yesterday’s close = 19523. Recap from yesterday: “On the 1hr TF, Nifty is still looking weak. The next target should be 19446 followed by 19310 if are continuing the downward move. In case we reverse and move up, the first…
The chapters below are the analysis of each day’s price movement. It is highly technical in nature and my reports are based on the charts. Usually, I start with the 5mts candle and call out any anomaly or unusual patterns. Then I take up the 1hr chart to see if it fits into the broader…
