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Niftyanalysis

Nifty Intraday Support & Resistance Levels for 09.12.2024On Friday, Nifty traded within a narrow range, reflecting cautious market sentiment. It made a high of 24751.05 and a low of 24620.50, ultimately closing at 24677.80, down by 30 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) stays positive, signalling underlying strength. Demand/Support Zones Near Demand/Support Zone (15m): 24295.55 - 24376.65 Far Demand/Support Zone (30m): 24140 - 24187.05 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Supply/Resistance Zones Near Supply/Resistance Zone (Weekly): 24567.65 - 25234.05 (Current price inside the zone) Far Supply/Resistance Zone (Daily): 25739.20 - 25907.60 Far Supply/Resistance Zone (Daily): 26151.40 - 26277.35
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 06.12.2024On Thursday, Nifty opened positively but saw early selling pressure, dropping to a day low of 24295.55, precisely taking support at the 30m Demand Zone highlighted earlier. A strong rally followed, pushing it to a day high of 24857.75, entering the Daily and Weekly Supply Zones. It closed at 24708.40, gaining an impressive 241 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) has turned positive, indicating a bullish tilt. Demand/Support Zones Near minor Demand/Support Zone (15m): 24295.55 - 24376.65 Far Demand/Support Zone (30m): 24140 - 24187.05 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Supply/Resistance Zones Near Supply/Resistance Zone (Weekly): 24567.65 - 25234.05 (Current price inside the zone) Far Supply/Resistance Zone (Daily): 25739.20 - 25907.60 Far Supply/Resistance Zone (Daily): 26151.40 - 26277.35
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 05.12.2024On Wednesday, Nifty opened on a positive note, reaching a high of 24573.20, breaking above the 75m supply zone and testing the Weekly supply zone. However, selling pressure pushed it to a low of 24366.30. Nifty eventually closed at 24467.45, gaining 10 points from the previous close. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, indicating a neutral outlook. Demand/Support Zones Near Demand/Support Zone (30m): 24300.05 - 24348.35 Near Demand/Support Zone (30m): 24140 - 24187.05 Far Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Supply/Resistance Zones Near Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (Tested) Near Supply/Resistance Zone (Weekly): 24567.65 - 25234.05 (Tested) Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside Daily supply)
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 04.12.2024On Tuesday, Nifty opened positive, touched a low of 24280, and rallied to a day high of 24481.35, entering the 75m supply zone. It closed at 24457.15, gaining 181 points from the previous close. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, indicating a neutral bias in the short term. Demand/Support Zones Near Demand/Support Zone (30m): 24300.05 - 24348.35 Near Demand/Support Zone (30m): 24140.00 - 24187.05 Far Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Far Support: 23189.88 (61.8% FIBO) Far Demand/Support Zone (Daily): 22642.60 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (75m): 24447.65 - 24537.60 (tested) Far Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (inside weekly supply) Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside Daily supply) Far Supply/Resistance Zone (Weekly): 24567.65 - 25234.05
NSE:NIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 29.11.2024On Thursday, Nifty opened flat, hit a high of 24345.75, and then saw a sharp decline below 24000, making a low of 23873.35 as it tested the 15m demand zone. It closed at 23914.15, losing 360 points from the previous close. Breaking below the key 24100 support (3-day low) triggered a strong downward move, dragging Nifty over 200 points. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, signaling caution. Demand/Support Zones Near Demand/Support Zone (15m): 23856.15 - 23940.30 (tested yesterday) Near Demand/Support Zone (15m): 23661.75 - 23731.25 Far Demand/Support Zone (75m): 23447.15 - 23578.60 Near Support: 23189.88 (61.8% FIBO) Far Demand/Support Zone (Daily): 22642.60 - 22910.15 Supply/Resistance Zones Near Supply/Resistance Zone (125m): 24257.65 - 24354.55 Near Supply/Resistance Zone (75m): 24447.65 - 24537.60 Far Supply/Resistance Zone (Daily): 24567.65 - 24978.30 (inside weekly supply) Far Supply/Resistance Zone (75m): 24636.75 - 24741.45 (inside Daily supply) Far Supply/Resistance Zone (Weekly): 24567.65 - 25234.05
NSE:NIFTY
by PriteshPalan
Nifty chart explains Mother-Father & Small Child theory and RSICurrent Nifty daily chart explains Mother-Father & Small Child theory and RSI very well have a look. As we can see and explained in my previous articles in Smart Investment as well as my book, The Happy Candles Way to wealth creation available on Amazon in Paperback and kindle version. The book in E-version is also available on Google Play books. Every time and again Nifty for cooling down from the overbought zone, consolidation, finding support and finding bottom in case of a bear market looks towards taking blessing or ashirwad from mother regularly and father some times. Wherein we call 50 EMA the Mother, 200 EMA of the father and movement of the candle sticks as movement of a 3 year old kid who is moving in a garden. The theory has been explained in depth in my previous articles and books but what you read above is in a nutshell. This time as there were serious issues related to FIIs selling continuously, issues regarding inflation, consumption and domestic demand being weak we saw a steep correction in Nifty from its high. The global issues like escalating Iran Vs Israel tensions, US elections, Ukraine Vs Russia war again gaining momentum also played a spoilsport for bulls along with new episode of Adani saga. The correction might not be over we do not know for sure where the exact top and exact bottoms are but we can predict zones that can provide resistance and supports accurately. Mother and Father lines we consider major supports and well as major resistances. They are major and most important supports if price of the particular stock or index is above the lines and they will be major resistance if the price of the stock is below them. On Friday we got a strong closing above the 200 days EMA which means if we get a follow up bullish candle on Monday and index continues to sustain above 200 days EMA things can go North in favour of Bulls. If Bulls can manage to get a closing above 50 days EMA or mother line the rally can enter a very strong zone. Another noteworthy point is that Nifty also hit a near channel bottom support as well as RSI also hit an oversold zone. Thus getting a positive closing to next week and further extending the closing above Mother line will be very important going forward. Supports for Nifty remain at 23542(Strong Father line Support), 23259, 22801 and 22139. Resistances on the upper side are 23965, 24259, 24417 (Strong Mother line resistance) and 24909 before we again reach 25K+ levels. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTYLong
by Happy_Candles_Investment
NIFTY50 || RSI positive divergence As mention in my previous idea, the recent rally was indeed a 'Dead Cat Bounce' as NIFTY50 has experienced another significant drop. However, examining the charts above reveals positive RSI divergence in both the 2-hour timeframe (TF) and the daily timeframe (DTF), with NIFTY reversing from a marked support zone. For the next bull run to be confirmed, NIFTY should hold above today’s low and meet the following two criteria: 1. The index begins trading above the 20 EMA band. 2. The RSI surpasses the 70 mark. This setup could indicate a more sustainable upward trend if both conditions are fulfilled. Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. Trading involves significant risk, and it’s essential to perform your own research or consult a financial advisor before making any investment decisions. Essential principles for traders: 1. Be Disciplined, Avoid FOMO: Maintain a disciplined approach to avoid impulsive decisions based on the "fear of missing out" (FOMO), which can lead to risky trades. 2. Risk and Reward Management: Always assess potential rewards relative to risks before entering a trade. Proper risk management ensures long-term success by limiting losses on any single trade. 3. Follow Stop Losses: Calculate and set a stop loss for every trade to protect against significant losses. Make it a habit to adhere to it without exception, even if the market seems to be in your favor. 4. Journal Your Trades: Maintain a trading journal to track decisions, wins, and losses. Analyzing past trades can help improve future strategies and identify patterns in behavior or biases. 5. Master One Strategy Before Expanding: It’s beneficial to focus on mastering a single trading strategy before exploring others. Once consistent, you can broaden your approach to diversify risk and opportunities. 6. Control Emotions: Emotions, especially greed and fear, can cloud judgment. Cultivating a mindset that balances confidence and caution is key to maintaining objectivity.
NSE:NIFTY
by Abdul-Rahim
Nifty Analysis: How much more pain left? Where is the bottom?Nifty Analysis: 1) Today's low 23816 is very important level to watch. 2) Next support at 23502 (Father Line or 200 days EMA). 3) Final Major support near 23201(Trend line meeting point and 50 weeks EMA (Major Mother Line). 4) Closing below 23201 has potential to break the hell loose. 5) Resistance on the upside at 24145, 24320, 24506 and 24781 (50 days EMA-Mother Line). 6) Bulls can take control only after we get a closing above 24781. To know more about stop losses, trailing stop losses, Profit booking and investment, financial awareness in general, process of investment in Equity or Mother, Father and small child theory read my book The Happy Candles Way to wealth creation. Many People who have read it consider it as hand book and perfect guide to equity investment. You can read reviews of the book or purchase the same from Amazon. The book is available on Amazon in Kindle and paperback version. I am sure you are going to find it of massive use. Once you have read the book, I assure you that you will become a next level investor. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
50 Hours EMA and Trendline resistance again stop Nifty progressAgain The Mother line (50 Hours Resistance) and trendline resistance threw spanner in the growth effort of Nifty. Till Mother line and trendline thereafter is not crossed we can't reach Father line resistance which is at 24853. Supports for nifty remain at 24307, 24173 and finally 24073. Below 24073 Nifty will become very weak and bears will spell further doom. Resistances on the upper side remain at the zone between 24448 and 24513 (tough to conquer Mother line and Trend line resistance respectively), 24613, 24730 and 24853. Above 24853 the critical resistance will be the zone between 24860 and 24971. Bulls can come back into the game after the close above 24971. Above 24971 Bulls can create an upward rampage. Tomorrow is a very critical day where Nifty going into November needs to close above 24513 or atleast above 24448. Signs are looking little difficult for Nifty with a negative shadow of the candle but festive buying can bring back the bulls in action hopefully. . To know more about Techno-Funda investment, Mother-Father and Small Child theory, Happy Candles Number read my book The Happy Candles Way to Wealth Creation. Gift it to yourself or your special ones this festive season. Disclaimer: The above information is provided for educational purpose, analysis and paper trading only. Please don't treat this as a buy or sell recommendation for the stock. We do not guarantee any success in highly volatile market or otherwise. Stock market investment is subject to market risks which include global and regional risks. We will not be responsible for any Profit or loss that may occur due to any financial decision taken based on any data provided in this message.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Intraday Levels 24-OCT-2024, Sell Trend Continue Today Nifty also reversed near "Reaction Area", we can consider that area as resistance. Nifty is now trading away from selling area and a pullback is possible from buyer side. Only "Resistance Area" is the most safest place to sell in nifty. Wait for the price pullback and sell only when price is reversing from selling zone "Resistance Area" Near 24520. If price is waiting near today closing price and making 3-4 candles in 5 min timeframe then breakdown. We can also sell after that but first wait for the buyers to come and defend the price. Note : Its just an analysis, wait for the price to confirm. Disclaimer : Always follow risk to reward, this is the only key to success in market, no matter how much good a trade is looking we never know the future.
NSE:NIFTYShort
by smrgrover2
Nifty Intraday 23 Oct 2024 Levels for SellingToday Nifty made new low and following price action on every timeframe. For good risk reward if price starts moving upwards and taking reversal near 24600, then we can go for sell trade. For Followup trade, any 5 min candle close below 24445 then also we can go for sell trade. Note : Its just an analysis, wait for the price to confirm. Disclaimer : Always follow risk to reward, this is the only key to success in market, no matter how much good a trade is looking we never know the future.
NSE:NIFTYShort
by smrgrover2
Mother, Father lines and the trend line stopping NiftyEvery effort of Nifty is being stopped by mother line, Father line or the trend line. It shows weakness but the turnaround might be around the corner. The possible turnaround zones can be around 24915, 24684 or 24478. If we get a closing below 24478 bears can take over. Resistances on the upper side are 25045, 25088 and 25230. Above 25230 bulls can take a commanding position. Very delicately placed Nifty with a negative shadow of the candle. But some turn around can be expected within this week or the next when we get support from one of the zones mentioned above.
NSE:NIFTY
by Happy_Candles_Investment
Nifty Short, Medium & Long Term : 14-Oct-24 to 18-Oct-24Nifty Short, Medium & Long Term : 14-Oct-24 to 18-Oct-24 Nifty closed at 24964 ( Last Week 25011 ) and touched high & low of 25277-24708 Last week Market was marginally down and settled down due to middle east tension and profit booking. FII pulled out money and invested in China ( China market surged last week). Market touched new high 2 weeks before and touched all time high of Mid Term Resistance 26260. Nifty Bank 51712 (last week 51462), touched the target of 54000 as proposed 2 months before (54400 all time high) and support at 49900. Buy on dips. RSI ,Macd and stochastics levels are down. Caution to be emphasized as still further room to go down. Q2 results, Global news( US Election results and Relaxation of middle east tension) awaited which will pave way for more clearer path in market. Nifty 24964 Short term ( Short Term : Down) Nifty short term resistance 25376 & 25675 . Support at 24814 ( 0.618 Fib Retracement) Medium Term next target is 26266 & if move up decisively above next target is 27000 Medium term Support 24800, 24470 (Trend line support and Fib Resistance) and 24257 (Fib Support) and 24000. Long Term : Nifty have a target of 28190 ( Fibonacci Resistance). Support at 22800 US started reducting fed rate as expected in Sep 2024, expected it shall continue in reduction of interest rate in next year. Caution was emphasized on Nifty for last 3 months as nifty PE is in high level with high valuation especially in Mid cap & Small Cap. Mutual Funds SIP shall be invested as the goal is for more than 5-10 years at this critical period as the valuation is high. Those with lesser risk can sell partial portfolio ( 20-30%) stocks which have less valuation and can wait for opportunity to buy when nifty dips upto 22800. Deploy stop loss of upto 7%-8% which is crucial. More Risky players can have stop loss of trend line resistance of 23750 as shown in the chart. Fundamentally good stocks can be added as it posted good results on every dip in finance stocks such as CAMS, UTI AMC , HDFC AMC, Manappuram Finance, suryoday small fin, Motilal Fin, Chola Finance, Dr Reddys, Natco Pharma, Cipla, JK Cements, Biocon, Persistent Sys, PI Ind, PNC Infra and Ashoka Buildcon, ICICI Bank, HDFC Bank Indian Bank & Punjab National Bank. Stock Picking is needed at current scenario in Bank, auto, Pharma stocks. Based on the Q1 results, following stocks can be added to portfolio: There is a possibility of dip to 21000-22000, hence please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) The above stocks mentioned are based on analysis of top line & Bottom line performance, hence based on the risk and portfolio mix one can add after analysis. Nifty IT 42335 (last week 41912) indices increased last week, Q2 results will pave way for the clear direction.
NSE:NIFTYShort
by karthikss
1
Nifty Short, Medium & Long Term : 07-Oct-24 to 11-Oct-24Nifty Short, Medium & Long Term : 07-Oct-24 to 11-Oct-24 Nifty closed at 25014 ( Last Week 26179 ) and touched low & high of 25839-26285 ( all time high) Market saw a drop of 4.5% last week due to concern on Middle East War Situation. Market touched new high 2 weeks before , and touched all time high of Mid Term Resistance 26260 Nifty Bank 51462 ( 53834), touched the target of 54000 as proposed 2 months before (54400 all time high) and support at 49900. Buy on dips. Fed Rate Cut by 0.5% made the global market up and triggered increase in Indian Market in sep. FPI invested 4 Billion $ in Sep and pulled out 3.5 Billion $ in 3 trading session in Oct. US President Election result scheduled in Nov 24. Until then Market may correct if any global news upto19500 as there is strong multiple fib support in this range. RBI in India expected to reduce rate from end of this year. RSI ,macd and stochastics levels are down. Caution to be emphasized as Stochastics at overbought level. Q2 results awaited which will pave way for more clearer path in market. Nifty 25014 Short term ( Short Term : Down) Nifty short term resistance 25675 & 26000 trend line resistance as shown in chart. Support at 24814 ( 0.618 Fib Retracement) Medium Term next target is 26266 & if move up decisively above next target is 27000 Medium term Support 24650 (Trend line support and Fib Resistance), 24480 (Fib Support) and 24000. Long Term : Nifty have a target of 28190 ( Fibonacci Resistance). Support at 22800 US started reducting fed rate as expected in Sep 2024, expected it shall continue in reduction of interest rate in next year. Caution was emphasized on Nifty for last 3 months as nifty PE is in high level with high valuation especially in Mid cap & Small Cap. Mutual Funds SIP shall be invested as the goal is for more than 5-10 years at this critical period as the valuation is high. Those with lesser risk can sell partial portfolio ( 20-30%) stocks which have less valuation and can wait for opportunity to buy when nifty dips upto 22800. Deploy stop loss of upto 7%-8% which is crucial. More Risky players can have stop loss of trend line resistance of 23750 as shown in the chart. Fundamentally good stocks can be added as it posted good results on every dip in finance stocks such as CAMS, UTI AMC , HDFC AMC, Manappuram Finance, suryoday small fin, Motilal Fin, Chola Finance, Dr Reddys, Natco Pharma, Cipla, JK Cements, Biocon, Persistent Sys, PI Ind, PNC Infra and Ashoka Buildcon, ICICI Bank, HDFC Bank Indian Bank & Punjab National Bank. Stock Picking is needed at current scenario in Bank, auto, Pharma stocks. Based on the Q1 results, following stocks can be added to portfolio: There is a possibility of dip to 21000-22000, hence please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) The above stocks mentioned are based on analysis of top line & Bottom line performance, hence based on the risk and portfolio mix one can add after analysis. Nifty IT 41912 (42312) indices dipped slightly, NIfty IT is less than SMA 21 level, need clear direction and Q2 results will pave way for the clear direction.
NSE:NIFTY
by karthikss
Nifty Short, Medium & Long Term : 23-Sep-24 to 27-Sep-24Nifty Short, Medium & Long Term : 23-Sep-24 to 27-Sep-24 Nifty closed at 25790 (last week 25356) and touched low & high of 25292-25849 ( all time high) Market touched new high last week , and broke the key resistance of 25545 provided last week decisively and also crossed Mid Term Resistance 25800 and settled at 25790 ( ( Target Line Provided) Nifty bank 53797 ( Last week 51938) - As mentioned for last 1.5 months, Bank Index have target of 54000 in medium term ( Currently nearing the target) and support at 49900 Fed Rate Cut by 0.5% made the global market up and triggered increase in Indian Market. FPI invested 4 Billion $ in Sep till date. RSI and stochastics levels moved up last week (71% and 93% respectively). MACD crossed the Signal. RSI and MACD shows market will go up further. Caution to be emphasized as Stochastics at overbought level. Q2 results awaited which will pave way for more clearer path in market. Nifty 25790 Short term ( Short Term : Up) Nifty short term resistance 25790 as shown in chart. Support at 25000 , 24650 (Trend line support and Fib Resistance), & 24480 (Fib Support) Medium Term next target is 26260 ( As shown in chart, The level is the difference between the Aug High and Aug Low from Aug High)- If it crosses 26260, Medium Term is UP. if it moves above decisively next target is 27000. Medium term Support - 24000 Long Term : Nifty have a target of 28190 ( Fibonacci Resistance). Support at 22800 US started reducting fed rate as expected in Sep 2024, expected it shall continue in reduction of interest rate in next year. US President Election result scheduled in Nov 24. Until then Market may correct if any global news upto19500 as there is strong multiple fib support in this range. RBI in India expected to reduce rate from end of this year. Caution to be emphasized on Nifty as nifty PE is in high level with high valuation especially in Mid cap & Small Cap. Mutual Funds SIP shall be invested as the goal is for more than 5-10 years at this critical period as the valuation is high. Those with lesser risk can sell partial portfolio ( 20-30%) stocks which have less valuation and can wait for opportunity to buy when nifty dips upto 22800. Deploy stop loss of upto 7%-8% which is crucial. More Risky players can have stop loss of trend line resistance of 23750 as shown in the chart. Fundamentally good stocks can be added as it posted good results on every dip in finance stocks such as CAMS, UTI AMC , HDFC AMC, Manappuram Finance, suryoday small fin, Motilal Fin, Chola Finance, Dr Reddys, Natco Pharma, Cipla, JK Cements, Biocon, Persistent Sys, PI Ind, PNC Infra and Ashoka Buildcon, ICICI Bank, HDFC Bank Indian Bank & Punjab National Bank. Stock Picking is needed at current scenario in Bank, auto, Pharma stocks. Based on the Q1 results, following stocks can be added to portfolio: There is a possibility of dip to 21000-22000, hence please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) The above stocks mentioned are based on analysis of top line & Bottom line performance, hence based on the risk and portfolio mix one can add after analysis. Nifty IT 42204 (last week 43394) indices dipped to 37848 in Jun month, bounced back and reached all time high last week(43632). Later Dipped to 42204 due to profit booking. Recovery of US stock market & awaiting FED rate cut expectation decision pushed the US stocks up and followed by Nifty IT Index last week. NIfty IT is less than SMA 21 level, need clear direction and Q2 results will pave way for the clear direction.
NSE:NIFTYLong
by karthikss
Things look rosy but keep an eye on 2 major global events. Nifty was in consolidation mode on Friday after making a new high on thursday. It seems to have found a temporary support at 25292. If this support is broken there are further supports at 25133, 24910, 24753 and finally Mother line support of 24602. If 24602 is broken bear will be seen in an active mode. however shadow of the candle as of now seems to be neutral to positive. The resistances for Nifty on the upper side are at 25433 and 25537. Channel top seems to be near 25653 and trend top or the medium term target seems to be at 26335. However Nifty will take some time, correction and consolidation before we reach there in all probability. All eyes from across the globe will be on US Fed action on 18th September. If there is no fed rate cut or only 25bps rate cut announced. Bears can attack the market from all sides, so keep a track of this most important global event next week. This is a make or break global event. Also we should be watchful of events around Russia Vs Ukraine as there was a news that US can give a green signal to long range precision made in US missiles to be used by Ukraine. If this happens it can escalate the matter into a massive global event with negative impact on global markets. Although everything seems rosy as of now. Keep a keen eye on these to major events next week or in the coming days. To guard your profit keep trailing stop losses. To protect your capital use stop loss.
NSE:NIFTYLong
by Happy_Candles_Investment
Nifty Short, Medium & Long Term : 09-Sep-24 to 13-Sep-24Nifty Short, Medium & Long Term : 09-Sep-24 to 13-Sep-24 Nifty closed at 24855 ( Last week 25235 ) and touched low & high of 24807-25335 ( all time high) Market touched new high last week and went down on last fri, Market broke the Ist Support at 25000 and went down last week and currently it is in rangebound. RSI and stochastics levels moved up last week (52% and 33% respectively). MACD level crossed and went down below signal. Nifty 24855 Short term (Short term neutral, need to cross key resistance 25545) Nifty short term resistance 25545 as shown in chart. Support at 24480 (Fib Support) & 24650 (Trend line support and recent low). Medium Term 25235, next target is 25800 ( Fib Resistance). if it moves above decisively next target is 26250. Medium term Support - 24000 Long Term : Nifty have a target of 27000 ( Fibonacci Resistance). If market close above 25540 decisively. Support at 22800 Post Indian Elections, reduction of interest rate by RBI is expected on a staggered manner till it reaches 5% ( in span of 2-3 years ) in line with US fed rate reduction expected in Sep 2024. US President Election scheduled in Nov 24. Until then Market may correct if any global news upto19500 as there is strong multiple fib support in this range. Caution to be emphasized on Nifty as nifty PE is in high level with high valuation especially in Mid cap & Small Cap. Those with lesser risk can sell partial portfolio ( 20-30%) stocks which have less valuation and can wait for opportunity to buy when nifty dips upto 22800. This is the best period to start SIP MF when the valuation is high. Deploy stop loss of upto 7%-8% which is crucial. More Risky players can have stop loss of trend line resistance of 23750 as shown in the chart. Nifty bank 50582 (Last week 51117) - Index have target of 54000 in medium term and support at 49900 Stock Picking is needed at current scenario in Bank, auto, Pharma stocks. Newly added stocks to buy are CAMS, UTI AMC & HDFC AMC and removed tanla platform from the list as the profit is stagnated, to await till next quarter ( Q2) Results. Based on the Q1 results, following stocks can be added to portfolio: ICICI Bank, HDFC Bank, Indian Bank & Punjab National Bank. Fundamentally good stocks can be added as it posted good results on every dip in finance stocks such as Manappuram Finance, suryoday small fin, Motilal Fin, Chola Finance, Dr Reddys, Natco Pharma, Cipla, JK Cements, Biocon, Persistent Sys, PI Ind, PNC Infra and Ashoka Buildcon. There is a possibility of dip to 21000-22000, hence please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) The above stocks mentioned are based on analysis of top line & Bottom line performance, hence based on the risk and portfolio mix one can add after analysis. Nifty IT 42234 (Last week 42760) indices dipped to 37848 in Jun month, bounced back and all time high last week. Recovery of US stock market and awaiting FED rate cute decision pushed the US stocks up and followed by Nifty IT Index.
NSE:NIFTY
by karthikss
Nifty Short, Medium & Long Term : 02-Sep-24 to 06-Sep-24Nifty Short, Medium & Long Term : 02-Sep-24 to 06-Sep-24 Nifty closed at 25235 ( Last week 24823 ) and touched low & high of 24899-25263 ( all time high) As suggested for past two weeks, market bounced back and moved up and achieved the first Medium term target 25224. Caution to be emphasized on Nifty as nifty PE is in high level with high valuation especially in Mid cap & Small Cap. Those with lesser risk can sell partial portfolio ( 20-30%) stocks which have less valuation and can wait for opportunity to buy when nifty dips upto 22800. This is the best period to start SIP MF when the valuation is high. Deploy stop loss of upto 7%-8% which is crucial. More Risky players can have stop loss of trend line resistance of 23750 as shown in the chart. RSI and stochastics levels moved up last week (69% and 97% respectively). MACD level crossed cross the signal two weeks before and sustaining. Expecting market to move up further in short term. Nifty 25235 Short term (Short term up) Nifty short term resistance 25540 as shown in chart. Support around 25000(last month high) & 24676 ( trend line support and recent low). Medium Term 25235, next target is 25800 ( Fib Resistance). if it moves above decisively next target is 26250. Medium term Support - 24000 Long Term : Nifty have a target of 27000 ( Fibonacci Resistance). If market close above 25540 decisively. Support at 22800 Post Indian Elections, reduction of interest rate by RBI is expected on a staggered manner till it reaches 5% ( in span of 2-3 years ) in line with US fed rate reduction expected in Sep 2024. US President Election scheduled in Nov 24. Until then Market may correct if any global news upto19500 as there is strong multiple fib support in this range. Nifty bank 51368 (Last week 50933 ) - Index have target of 54000 in medium term and support at 49900 Stock Picking is needed at current scenario in Bank, auto, Pharma stocks. Newly added stocks to buy are PI Ind, PNC Infra and Ashoka Buildcon. As insisted for last 3 months Banks & Finanace Stocks are really good and will give good results, as expected Q4 results are good especially for ICICI Bank, HDFC Bank, Indian Bank & Punjab National Bank. Fundamentally good stocks can be added as it posted good results on every dip in finance stocks such as Manappuram Finance, suryoday small fin, Motilal Fin, Chola Finance, Other stocks like Dr Reddys, Natco Pharma, Cipla, JK Cements, Biocon, Tanla & persistent Sys can add these stocks to portfolio. There is a possibility of dip to 21000-22000, hence please buy in parcels and every dip of Index and every dip of individual stocks (2-5% of portfolio on each purchase for long term) The above stocks mentioned are based on analysis of top line & Bottom line performance, hence based on the risk and portfolio mix one can add after analysis. Nifty IT 42760 (Last week 41089 ) indices dipped to 37848 in Jun month, bounced back and all time high last week. Recovery of US stock market and awaiting FED rate cute decision pushed the US stocks up and followed by Nifty IT Index.
NSE:NIFTYLong
by karthikss
Nifty anlaysis for tomorrow 28 july 2024 (Nifty Intraday Setup)Today After breaking previous day high nifty consolidated from 12 pm to 2 pm and failed to sustain at higher level. And Nifty closed with a selling swing today. So for tomorrow if with opening market created a selling swing then a bounce will be expected and day high break or price near high will be expected. Look for W pattern on 5 min. (SELLING SHOULD NOT BE VERY SHARP AND BIG). And If Price move upside and take rejection below todays high & created a lower High (M Pattern on 5 mins.) then intraday low break will be expected.
NSE:NIFTYShort
by jain_abhishek
Combination of Fibonacci and trend lines and Parallel Channel. We will try to look at Nifty with the combination of Fibonacci, Parallel Channel and Trend lines and few other parameters to get the outlook for short to medium term on Nifty. Combination of various parameters mentioned above indicate that Door For Nifty reaching 26K+ within this year might have already opened. Various resistances on the way will be at 24783, 24874 followed by strong resistance of the previous high of 25078. Once we get a weekly or a monthly closing above 25078 the next resistances will be at 25410, 25839 and finally 26321 (Within this year or within this financial year). Supports for Nifty will be at 24643, 24517, 24324 and finally 24115. Below 24115 the final support for Nifty will be at 23893. Below this level the bull rally will be over and bears can take control of the market.
NSE:NIFTYLong
by Happy_Candles_Investment