Nifty Futures - Bullish Harmonic
Indian markets have corrected over 3% from highs in sync with the US markets as the fear of recession mounts with the economic data last week. The fear resulted in profit bookings at higher levels.
An outperformance of Indian markets may prolong over the US.
The Dip, It’s a Buy
On the hourly chart of Nifty Futures (Continuous Contract), the Bullish Gartley Harmonic pattern is visible at today’s day low of 18,308.
The harmonic is the reversal pattern and is calculated using multiple Fibonacci retracements.
On Nifty Futures, the reversal is confirmed with the bullish bar and positive divergence on RSI.
Trader’s can look to buy the dips. The pattern negates on a break of 18,289.
(CMP-18,390)
#Nifty
#KeepItSimple
Indian markets have corrected over 3% from highs in sync with the US markets as the fear of recession mounts with the economic data last week. The fear resulted in profit bookings at higher levels.
An outperformance of Indian markets may prolong over the US.
The Dip, It’s a Buy
On the hourly chart of Nifty Futures (Continuous Contract), the Bullish Gartley Harmonic pattern is visible at today’s day low of 18,308.
The harmonic is the reversal pattern and is calculated using multiple Fibonacci retracements.
On Nifty Futures, the reversal is confirmed with the bullish bar and positive divergence on RSI.
Trader’s can look to buy the dips. The pattern negates on a break of 18,289.
(CMP-18,390)
#Nifty
#KeepItSimple
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Fast Profits Daily
Nifty Futures - Bullish Harmonic Indian markets have corrected over 3% from highs in sync with the US markets as the fear of recession mounts with the economic data last week. The fear resulted in profit bookings at higher levels. An outperformance of Indian…
Nifty Futures 18,390 to 18,490+ 📈
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US markets carry-on with the ladt week's bearish tone on Monday; IT Index Nasdaq fell the most with 1.5% loss.
As per Wyckoff theory, Nasdaq seems forming the last of support this week after forming the shake out in mid October.
On Nifty, the bullish harmonic pattern is visible on the hourly chart and the reversal momentum yesterday confirms the resumption of bullish trend. Chart here
BankNifty needs to cross 43,570 for resumption of bullish momentum. Trader's should keep this levels on radar for long setup.
#PreMarket
#SGXNifty
As per Wyckoff theory, Nasdaq seems forming the last of support this week after forming the shake out in mid October.
On Nifty, the bullish harmonic pattern is visible on the hourly chart and the reversal momentum yesterday confirms the resumption of bullish trend. Chart here
BankNifty needs to cross 43,570 for resumption of bullish momentum. Trader's should keep this levels on radar for long setup.
#PreMarket
#SGXNifty
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Dow Jones Performance for Second Half of December for last 50 years 📈
Will you buy for Christmas Rally 🧑🏻🎄 and Year-end Settlement?
👍🏻 Yes, Buying the Best Stocks
❤️ No. Recession is coming.
Will you buy for Christmas Rally 🧑🏻🎄 and Year-end Settlement?
👍🏻 Yes, Buying the Best Stocks
❤️ No. Recession is coming.
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Hey BEARS 🐻, Are you done for the Day?
The bears are ruling the day right from the word go as Nifty corrects over 200 points to hit the low of 18,202 as of 12:15pm IST.
Index is trading at the technical support zone and bears are suggested to book profits around these levels.
1. The falling channel or parallel lines support zone.
2. Bullish divergence on Relative Strength Index (RSI)
The support and divergence on the hourly chart indicate the reversal or time correction can be expected in the second half.
The bulls can grab this opportunity as the chart signals the favourable risk-reward setup.
The pattern negates on the break of previous swing low of 18,132.
(CMP-18,250)
#Nifty
#KeepItSimple
The bears are ruling the day right from the word go as Nifty corrects over 200 points to hit the low of 18,202 as of 12:15pm IST.
Index is trading at the technical support zone and bears are suggested to book profits around these levels.
1. The falling channel or parallel lines support zone.
2. Bullish divergence on Relative Strength Index (RSI)
The support and divergence on the hourly chart indicate the reversal or time correction can be expected in the second half.
The bulls can grab this opportunity as the chart signals the favourable risk-reward setup.
The pattern negates on the break of previous swing low of 18,132.
(CMP-18,250)
#Nifty
#KeepItSimple
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SGX Nifty reclaims 18,500 and Indian markets are expected to open on positive note.
The last hour short covering rally from the support zone of the channel pattern signals the bulls may have great time in next 2-4 weeks.
The bullish divergence on RSI supports the reversal for markets. Chart here
IT stocks, Reliance, HDFC and few heavy weights witnessed the bullish trend in the second half yesterday and is likely to lead the rally towards 19,000 on Nifty.
The short-term hurdle can be 18,550,-18,600 at the upper band of channel on Nifty for traders.
#Pre-Market
#SGXNifty
The last hour short covering rally from the support zone of the channel pattern signals the bulls may have great time in next 2-4 weeks.
The bullish divergence on RSI supports the reversal for markets. Chart here
IT stocks, Reliance, HDFC and few heavy weights witnessed the bullish trend in the second half yesterday and is likely to lead the rally towards 19,000 on Nifty.
The short-term hurdle can be 18,550,-18,600 at the upper band of channel on Nifty for traders.
#Pre-Market
#SGXNifty
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TCS - The Elephant in the Room
Tata Consultancy Services (TCS) is the investor's and trader's favourite stock on D-street.
IT index has underperformed in 2022, down over 25%, while TCS is down over 12%.
Since September 2022, IT stocks witness a short-covering rally but fizzled in the last couple of weeks.
The Breakdown
Technically. the topping pattern head and shoulder is visible on the short-term chart with the breakdown at Rs. 3,250.
The stock price from the low of Rs. 3,163 has recovered back to Rs. 3,274 which is the retest of the head and shoulder breakdown.
Additionally, the gap and neckline of the head and shoulders pattern will be acting as major resistance for the stock.
As TCS weighs around 29% in the IT index and over 4% in Nifty50, the resumption of the bearish trend in the stock can impact the sectorial index and the benchmark index. The stock can be the elephant in the room for the market trend.
(CMP-3250)
#TCS
#KeepItSimple
Tata Consultancy Services (TCS) is the investor's and trader's favourite stock on D-street.
IT index has underperformed in 2022, down over 25%, while TCS is down over 12%.
Since September 2022, IT stocks witness a short-covering rally but fizzled in the last couple of weeks.
The Breakdown
Technically. the topping pattern head and shoulder is visible on the short-term chart with the breakdown at Rs. 3,250.
The stock price from the low of Rs. 3,163 has recovered back to Rs. 3,274 which is the retest of the head and shoulder breakdown.
Additionally, the gap and neckline of the head and shoulders pattern will be acting as major resistance for the stock.
As TCS weighs around 29% in the IT index and over 4% in Nifty50, the resumption of the bearish trend in the stock can impact the sectorial index and the benchmark index. The stock can be the elephant in the room for the market trend.
(CMP-3250)
#TCS
#KeepItSimple
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Nifty - Fall halts at...
The gap-up opening turned into a nightmare for bulls as the index witnessed a sharper fall led by Banks.
Nifty outperformed BankNifty as Pharma and IT ended the day in the green.
The Support for Bulls
The fast and furious fall in the second half halted at the support of the falling channel.
On the Relative Strength Index (RSI), the positive divergence signals the reversal on cards on the weekly expiry day.
The pattern will negate on breach of 18,130.
#Nifty
#KeepItSimple
The gap-up opening turned into a nightmare for bulls as the index witnessed a sharper fall led by Banks.
Nifty outperformed BankNifty as Pharma and IT ended the day in the green.
The Support for Bulls
The fast and furious fall in the second half halted at the support of the falling channel.
On the Relative Strength Index (RSI), the positive divergence signals the reversal on cards on the weekly expiry day.
The pattern will negate on breach of 18,130.
#Nifty
#KeepItSimple
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Bulls seemed into panic mode when Bank Nifty slipped below 43,000 to hit the lowest level of the month at 42,363.
Nifty outperformed Bank Nifty as the pharma and IT index ended on the green note.
Technically, the fall in Nifty halted at the support of the falling channel and the positive divergence indicates the reversal on cards till 18,130 is held by bulls. Chart here
Bank Nifty may continue to remain under pressure to retest the breakout levels at the 41,800-42,210 zone before heading towards the highs.
Brijesh Bhatia,
Research Analyst, Fast Profits Report
Nifty outperformed Bank Nifty as the pharma and IT index ended on the green note.
Technically, the fall in Nifty halted at the support of the falling channel and the positive divergence indicates the reversal on cards till 18,130 is held by bulls. Chart here
Bank Nifty may continue to remain under pressure to retest the breakout levels at the 41,800-42,210 zone before heading towards the highs.
Brijesh Bhatia,
Research Analyst, Fast Profits Report
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US Markets recover ahead of Christmas holidays; gains around 1.50%.
Asian indices trades in green early morning in sync with US markets; SGX Nifty indicates opening of over 100 points at 18,360.
The bears attack yesterday ended at the lower band of channel. The bearish momentum may prolong only on a break of 18,130.
The bulls have an opportunity at the support zone while the positive divergence favors reversal. Chart here
IT and Pharma stocks will be in focus on gap-up opening as they ended in green yesterday.
#PreMarket
#SGXNifty
Asian indices trades in green early morning in sync with US markets; SGX Nifty indicates opening of over 100 points at 18,360.
The bears attack yesterday ended at the lower band of channel. The bearish momentum may prolong only on a break of 18,130.
The bulls have an opportunity at the support zone while the positive divergence favors reversal. Chart here
IT and Pharma stocks will be in focus on gap-up opening as they ended in green yesterday.
#PreMarket
#SGXNifty
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Nifty - The Bargain Buying Opportunity
Index has corrected over 800 points from its high of 18,887 to 18,080.
The multiple trendlines on the daily chart suggest the support zone in the range of 17,964 to 18,100.
The breakout has been retested and the retest offers a favourable low-risk, high-reward entry.
If bulls manage to hold this range, they can cheer at the New Year party.
The range seems an excellent bargain buying opportunity for bulls.
(CMP-18,082)
#Nifty
#KeepItSimple
Index has corrected over 800 points from its high of 18,887 to 18,080.
The multiple trendlines on the daily chart suggest the support zone in the range of 17,964 to 18,100.
The breakout has been retested and the retest offers a favourable low-risk, high-reward entry.
If bulls manage to hold this range, they can cheer at the New Year party.
The range seems an excellent bargain buying opportunity for bulls.
(CMP-18,082)
#Nifty
#KeepItSimple
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It’s the Santa Bear on the Wall Street as well as D-Street as the markets trades around the lowest level of December.
Nifty corrected over 800 points from highs and approaching the major support zone of 17,964-18,100. Chart here
The weekly close below 17,865 will be the trend change levels for medium term on Nifty; if bulls manage to reverse from the current levels than it may hit 19,000 levels in early January 2023.
Dow Jones too trending around the do-or-die levels of 32,000 ahead of Christmas holidays. The next week may be the low volatility week due to the holiday seasons. Chart here
As SGX Nifty is indicating negative opening of over 100 points, intraday traders should watch out for shakeout below at 18,000 levels. The reversal from 17,964-18,000 zone may prove the best RR trade setup.
The minor hurdle for the day is expected at 18,133-18,179 on Nifty.
#PreMarket
#SGXNifty
Nifty corrected over 800 points from highs and approaching the major support zone of 17,964-18,100. Chart here
The weekly close below 17,865 will be the trend change levels for medium term on Nifty; if bulls manage to reverse from the current levels than it may hit 19,000 levels in early January 2023.
Dow Jones too trending around the do-or-die levels of 32,000 ahead of Christmas holidays. The next week may be the low volatility week due to the holiday seasons. Chart here
As SGX Nifty is indicating negative opening of over 100 points, intraday traders should watch out for shakeout below at 18,000 levels. The reversal from 17,964-18,000 zone may prove the best RR trade setup.
The minor hurdle for the day is expected at 18,133-18,179 on Nifty.
#PreMarket
#SGXNifty
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Indian markets witnessed one of the most brutal weekly selloffs of the quarter as Sensex and Nifty lost 2.37% and 2.53% respectively.
Technically, the weekly chart of Sensex suggest the benchmark indices are trading at the re-test of breakout levels. Historically, this is the third time lower-high lower-low breakout is retested. In the previous two instance, the index has hit new highs.
Bank Nifty, an outperformer turned into an underperformer in the recent market dip. Profit booking was witnessed in banking stocks taking the index from 44,000 to below 42,000. It is now at the bargain buying level and may witness a consolidation in the range of 41,500-42,000 before heading higher to 44,000+ levels.
#PreMarket
#SGXNifty
Technically, the weekly chart of Sensex suggest the benchmark indices are trading at the re-test of breakout levels. Historically, this is the third time lower-high lower-low breakout is retested. In the previous two instance, the index has hit new highs.
Bank Nifty, an outperformer turned into an underperformer in the recent market dip. Profit booking was witnessed in banking stocks taking the index from 44,000 to below 42,000. It is now at the bargain buying level and may witness a consolidation in the range of 41,500-42,000 before heading higher to 44,000+ levels.
#PreMarket
#SGXNifty
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Indian markets reversed sharply ending the three days bears attack; 18,112 will be the key for bulls to confirm the reversal.
Bank Nifty leads the day with 2.3% gains. Technically, index has reversed from the retest of medium term breakout at 41,800. The rally may extend towards 44,000+ levels till 41,500 is negated.
SGX Nifty is indicating the gap-up opening of ~50points; the gap area of 18,100-18,110 on spot may act as hurdle for the day.
#PreMarket
#SGXNIFTY
Bank Nifty leads the day with 2.3% gains. Technically, index has reversed from the retest of medium term breakout at 41,800. The rally may extend towards 44,000+ levels till 41,500 is negated.
SGX Nifty is indicating the gap-up opening of ~50points; the gap area of 18,100-18,110 on spot may act as hurdle for the day.
#PreMarket
#SGXNIFTY
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Can Nifty imitate Bank Nifty?
Bank Nifty witnessed a short-covering rally yesterday and rallied by 2.3% while Nifty managed to gain 1.17%.
Bank Nifty has reversed from medium-term support while Nifty is trying to imitate the rally.
On the short-term chart, Bank Nifty has managed to cross a couple of hurdles at the gap and previous swing high. While Nifty is struggling to sustain above the gap area. The previous swing high of 18,182 on Nifty will be a trend reversal decider for the bulls.
I believe the Nifty bulls can imitate the Bank Nifty rally only on a break of 18,200 on the Nifty.
#Nifty-18,000
#BankNifty-42,500
#KeepItSimple
Bank Nifty witnessed a short-covering rally yesterday and rallied by 2.3% while Nifty managed to gain 1.17%.
Bank Nifty has reversed from medium-term support while Nifty is trying to imitate the rally.
On the short-term chart, Bank Nifty has managed to cross a couple of hurdles at the gap and previous swing high. While Nifty is struggling to sustain above the gap area. The previous swing high of 18,182 on Nifty will be a trend reversal decider for the bulls.
I believe the Nifty bulls can imitate the Bank Nifty rally only on a break of 18,200 on the Nifty.
#Nifty-18,000
#BankNifty-42,500
#KeepItSimple
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Can Pharma Stocks Rally in 2023 with Rising Covid Cases?
With Covid cases rising, pharma stocks have once again started to rally. But my technical indicators suggest the rally may not last.
http://www.eqtm.in/Nt4c2
With Covid cases rising, pharma stocks have once again started to rally. But my technical indicators suggest the rally may not last.
http://www.eqtm.in/Nt4c2
Equitymaster
Can Pharma Stocks Rally in 2023 with Rising Covid Cases?
With Covid cases rising, pharma stocks have once again started to rally. But my technical indicators suggest the rally may not last.
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The volatile day ends near the day-high on D-street; Sensex and Nifty gained 0.6% respectively.
Nifty is trending bullish, but the major hurdle lies at the 18,180-18,200 zone for the continuation of bullish momentum. Chart here
Bank Nifty is leading the reversal moves as it reverses from the medium-term support of 41,800. The break of 43,134 may test 44,000+ levels in January series.
Midcap Index is reversing from 200DMA indicating the bulls are in control of the long-term trend.
Brijesh Bhatia,
Research Analyst, Fast Profits Report
Nifty is trending bullish, but the major hurdle lies at the 18,180-18,200 zone for the continuation of bullish momentum. Chart here
Bank Nifty is leading the reversal moves as it reverses from the medium-term support of 41,800. The break of 43,134 may test 44,000+ levels in January series.
Midcap Index is reversing from 200DMA indicating the bulls are in control of the long-term trend.
Brijesh Bhatia,
Research Analyst, Fast Profits Report
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