Nifty has tested the higher levels and got rejected from the high forming a hanging man candle on the daily charts.
Weekly charts is still showing some postivity and it is still way high from the weekly 20 ema.
The market has gained 500 points on the weekly close and is looking positive as compare to the other indices.
Major support levels :- 21820, 21660, 21500
There is a possibility of a double top pattern formation but confirmation for the M pattern will be below 21230 levels.
A confusion is there in the market as the budget was about to come this week and market participants were over excited for that .
It will face a major resistance from ATH and if it goes up to the levels and consolidate from 2-3 trading session or create halt candle, high chances for testing 23k levels will be there.
Resistance :- 21900 (hourly), 22130 (ATH).
Wait for the price action near the levels before entering the trade.
Weekly charts is still showing some postivity and it is still way high from the weekly 20 ema.
The market has gained 500 points on the weekly close and is looking positive as compare to the other indices.
Major support levels :- 21820, 21660, 21500
There is a possibility of a double top pattern formation but confirmation for the M pattern will be below 21230 levels.
A confusion is there in the market as the budget was about to come this week and market participants were over excited for that .
It will face a major resistance from ATH and if it goes up to the levels and consolidate from 2-3 trading session or create halt candle, high chances for testing 23k levels will be there.
Resistance :- 21900 (hourly), 22130 (ATH).
Wait for the price action near the levels before entering the trade.
코멘트:
There is an inside candle on the daily close and it taking a halt around the higher levels.
In case of a gap up opening, nifty can be seen taking out the ATH and creating new high.
If the market opens gap down, anything below 21750 will be negative and chance are there of testing lower levels.
Resistance :- 21950, 22130
Support :- 21820, 21675
Over night long position are made and anything below the support will trigger the stop loss which add on the selling in the market.
Wait for the price action near the levels before entering the market.
:)
In case of a gap up opening, nifty can be seen taking out the ATH and creating new high.
If the market opens gap down, anything below 21750 will be negative and chance are there of testing lower levels.
Resistance :- 21950, 22130
Support :- 21820, 21675
Over night long position are made and anything below the support will trigger the stop loss which add on the selling in the market.
Wait for the price action near the levels before entering the market.
:)
코멘트:
Nifty is respecting a trend line and is in a up move.
There is a double top formation at the high and it will retest the lower levels before hitting another higher levels.
Major support or target levels for bearish move will be around 21750 and 21650.
In case of a gap down opening bearish move will continue as there will be SL below the support zone and tomorrow is expiry.
Option seller are trading the sideways market while option buyer are waiting for a trending move.
Support levels :- 21750-800, 21670, 21450
Wait for the market to consolidate near the trend line and give a break down in the second half. In this scenario nice trending move can be captured.
Just wait for the price action or a pattern formation in the charts.
:0
There is a double top formation at the high and it will retest the lower levels before hitting another higher levels.
Major support or target levels for bearish move will be around 21750 and 21650.
In case of a gap down opening bearish move will continue as there will be SL below the support zone and tomorrow is expiry.
Option seller are trading the sideways market while option buyer are waiting for a trending move.
Support levels :- 21750-800, 21670, 21450
Wait for the market to consolidate near the trend line and give a break down in the second half. In this scenario nice trending move can be captured.
Just wait for the price action or a pattern formation in the charts.
:0
코멘트:
There was a nice sell off in the market and nifty closed 200 points lower after testing 22k levels.
Possibility of another red candle on daily chart is there once today's low is breached.
Major support levels :- 21660, 21500
Nifty has been holding on the higher levels. There is a need of a retracement in the index.
If there is a gap down opening, there can be another selling day for nifty.
Wait for the price action near the levels before entering the trade.
:)
Possibility of another red candle on daily chart is there once today's low is breached.
Major support levels :- 21660, 21500
Nifty has been holding on the higher levels. There is a need of a retracement in the index.
If there is a gap down opening, there can be another selling day for nifty.
Wait for the price action near the levels before entering the trade.
:)
The market has given a break down and retested the previous support zone of 21800.
If market opens gap down, it will a negative sign and there are chances of it testing the lower levels.
Support zone :- 21670, 21480-500
Nifty has formed a double top pattern. If there is a gap up opening and breaches the level after it, bearish trades can be entered.
Resistance :- 21810, 231900-50
Wait for the price action near the levels before entering the market.