Nifty - Bulls need to protect 17,890-17,974 📈
Nifty ended above the key psychological level of 18,000 for straight consecutive days.
After consolidating in the range of 17,900-17,600, the index managed to break above the budget day high of 17,974; the resistance may act as a support level.
The falling trendline (orange) can be retested before a resumption of bullish momentum at 17,925.
The moving average of 50EMA and 200EMA will also act as a support zone.
If bulls manage to hold the support zone of 17,890-17,974, we may expect the index to head to 18,500 by next week.
#Nifty
#KeepItSimple
Nifty ended above the key psychological level of 18,000 for straight consecutive days.
After consolidating in the range of 17,900-17,600, the index managed to break above the budget day high of 17,974; the resistance may act as a support level.
The falling trendline (orange) can be retested before a resumption of bullish momentum at 17,925.
The moving average of 50EMA and 200EMA will also act as a support zone.
If bulls manage to hold the support zone of 17,890-17,974, we may expect the index to head to 18,500 by next week.
#Nifty
#KeepItSimple
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Asian markets trade flat to positive after Dow Jones ends with gain of 0.4% on Friday; SGX Nifty trades at 17,970 with gains of over 30pts.
On Nifty, the bulls have managed to hold 17,890 on Friday; the move above 18,016 confirms the swing bottom at 17,884.
BankNifty underperformance hurts the ongoing bullish momentum in Nifty; 40,756 will be the do-or-die level for bulls.
#PreMarket
#SGXNifty
On Nifty, the bulls have managed to hold 17,890 on Friday; the move above 18,016 confirms the swing bottom at 17,884.
BankNifty underperformance hurts the ongoing bullish momentum in Nifty; 40,756 will be the do-or-die level for bulls.
#PreMarket
#SGXNifty
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Nifty - Bulls Don't Give Up!
The crucial support of 17,890 on Nifty, which I am highlighting in the last couple of sessions, is strong for bulls.
An ascending triangle breakout on the chart has been retested on Friday as well as today. The reversal from retest indicates the bulls are not giving up the trend and the resumption of bullish momentum can be on cards.
The icing on the cake for bulls is the 200HEMA (orange) which is placed at 17,914 and is acting in favour of bulls.
Bulls need to cross 18,016 for confirmation of swing bottom at 17,884.
CMP-17,960
#Nifty
#KeepItSimple
The crucial support of 17,890 on Nifty, which I am highlighting in the last couple of sessions, is strong for bulls.
An ascending triangle breakout on the chart has been retested on Friday as well as today. The reversal from retest indicates the bulls are not giving up the trend and the resumption of bullish momentum can be on cards.
The icing on the cake for bulls is the 200HEMA (orange) which is placed at 17,914 and is acting in favour of bulls.
Bulls need to cross 18,016 for confirmation of swing bottom at 17,884.
CMP-17,960
#Nifty
#KeepItSimple
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The bulls lost momentum and index back into the range of 17,600-18,000 on Nifty; ends the day at 17,844 losing 0.56%.
The bullish breakout from an ascending triangle turns out to be a fakeout as the index breaks below the rising trendline of the lows at 17,865. Chart here
BankNifty has been underperforming and dragging Nifty down. But, the index is reaching its major support zone of 40,350-40,500 indicating the reversal on the card. Additionally, the PCR has hit an exhaustion mark of 0.5 indicating the reversal can trigger a short-covering rally. Watch out for the 40,350-40,500 zone tomorrow.
Brijesh Bhatia,
Research Analyst, Fast Profits Report
The bullish breakout from an ascending triangle turns out to be a fakeout as the index breaks below the rising trendline of the lows at 17,865. Chart here
BankNifty has been underperforming and dragging Nifty down. But, the index is reaching its major support zone of 40,350-40,500 indicating the reversal on the card. Additionally, the PCR has hit an exhaustion mark of 0.5 indicating the reversal can trigger a short-covering rally. Watch out for the 40,350-40,500 zone tomorrow.
Brijesh Bhatia,
Research Analyst, Fast Profits Report
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US Markets were off and Asian packs kicks off the day with negative opening; SGX Nifty trading flat with gains of 8points at 18,873.
The bulls lost the momentum on Nifty as it failed to cross the 18,016 resistance mark; breakdowns from the ascending triangle pattern.
An OI structure on Nifty indicates the 17,678-17,723 can be tested if 18,016 is not crossed.
BankNifty witnessed the selling pressure. Technically, index is approaching the major support zone of 40,350-40,500 and OI structure signals exhaustion to bearish momentum as PCR falls to 0.5. The short-covering rally can be on cards. Shorts, stay cautious on banks.
#PreMarket
#SGXNifty
The bulls lost the momentum on Nifty as it failed to cross the 18,016 resistance mark; breakdowns from the ascending triangle pattern.
An OI structure on Nifty indicates the 17,678-17,723 can be tested if 18,016 is not crossed.
BankNifty witnessed the selling pressure. Technically, index is approaching the major support zone of 40,350-40,500 and OI structure signals exhaustion to bearish momentum as PCR falls to 0.5. The short-covering rally can be on cards. Shorts, stay cautious on banks.
#PreMarket
#SGXNifty
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BankNifty - It's worth a shot!
BankNifty has put pressure on the markets in the last three trading sessions when the IT and Energy sectors were managing to take Nifty higher.
Yesterday's bearish momentum of over 700pts from the high in BankNifty was heartbreak for bulls as Nifty was on the verge of breaking out from the key psychological level of 18,000.
BankNifty is trading at the crucial support zone and retesting a bullish pattern.
1. Bullish Reciprocal AB=CD reversal column low placed at 40,500 will act as a support zone.
2. 21EMA level has been a foothold for bulls and bears.
3. The 61.80% Fibonacci retracement of the anchor column.
The technical level suggests the reversal on cards.
On derivatives front, the Put-Call Ratio (PCR) is trending at an oversold level of 0.5 indicating the short-covering rally can be on cards.
The technical pattern may negate on breach of 40,000.
#BankNifty
#KeepItSimple
BankNifty has put pressure on the markets in the last three trading sessions when the IT and Energy sectors were managing to take Nifty higher.
Yesterday's bearish momentum of over 700pts from the high in BankNifty was heartbreak for bulls as Nifty was on the verge of breaking out from the key psychological level of 18,000.
BankNifty is trading at the crucial support zone and retesting a bullish pattern.
1. Bullish Reciprocal AB=CD reversal column low placed at 40,500 will act as a support zone.
2. 21EMA level has been a foothold for bulls and bears.
3. The 61.80% Fibonacci retracement of the anchor column.
The technical level suggests the reversal on cards.
On derivatives front, the Put-Call Ratio (PCR) is trending at an oversold level of 0.5 indicating the short-covering rally can be on cards.
The technical pattern may negate on breach of 40,000.
#BankNifty
#KeepItSimple
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The bulls lost the game again as the second half bearish momentum ends the Nifty in red at 17,826.
The range of 17,600-18,000 is likely to prolong till the expiry in Nifty.
Bank Nifty has approached the low-risk level of the Bullish Reciprocal AB=CD pattern. The PCR below 0.60 signals a cautious sign for bears. The short-covering rally can be on cards above 41,000.
Brijesh Bhatia,
Research Analyst, Fast Profits Report
The range of 17,600-18,000 is likely to prolong till the expiry in Nifty.
Bank Nifty has approached the low-risk level of the Bullish Reciprocal AB=CD pattern. The PCR below 0.60 signals a cautious sign for bears. The short-covering rally can be on cards above 41,000.
Brijesh Bhatia,
Research Analyst, Fast Profits Report
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US markets post the worst performance of the year as it end down by 2% on anticipation that interest rate will stay higher to control inflation.
SGX Nifty trades below 17,800 with the loss if 72 points; 17,684-17,597 insight for bears.
The bulls losing the momentum on Nifty around 17,900-18,000 mark offers an opportunity for bears; 17,500 will be the key support.
BankNifty may act as support for bulls in the range of 40,350-40,500 zone.
#PreMarket
#SGXNifty
SGX Nifty trades below 17,800 with the loss if 72 points; 17,684-17,597 insight for bears.
The bulls losing the momentum on Nifty around 17,900-18,000 mark offers an opportunity for bears; 17,500 will be the key support.
BankNifty may act as support for bulls in the range of 40,350-40,500 zone.
#PreMarket
#SGXNifty
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Nifty - Approaching support
The weak global cues triggered the lower opening for Indian markets.
Nifty which struggled to head higher lost its bullish momentum and slipped below 17,700 in the early hours today.
Index is approaching the support area of 200DEMA (Daily Exponential Moving Average) placed at 17,593.
The support of the rising channel is placed at 17,575 around the average which signals the next support area.
The derivative structure indicates the support of 17,500-17,600 as 17500PE and 17600PE hold an OI of over 1,75,000 contracts.
All the benchmark indices on NSE is trading down by ~1%.
#Nifty
#KeepItSimple
The weak global cues triggered the lower opening for Indian markets.
Nifty which struggled to head higher lost its bullish momentum and slipped below 17,700 in the early hours today.
Index is approaching the support area of 200DEMA (Daily Exponential Moving Average) placed at 17,593.
The support of the rising channel is placed at 17,575 around the average which signals the next support area.
The derivative structure indicates the support of 17,500-17,600 as 17500PE and 17600PE hold an OI of over 1,75,000 contracts.
All the benchmark indices on NSE is trading down by ~1%.
#Nifty
#KeepItSimple
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The D-street bleed red as Nifty and Sensex fell 1.5% to end at 17,554 and 59,744 respectively.
Nifty500, the broader market index closed below the 200DMA for the first time since July 2022; time to be cautious for bulls.
Nifty50 is hovering at the major support area of 17,500 - technically and as per derivative structure too.
If bulls manage to hold 17,457 tomorrow, the expiry is likely around 17,600 levels.
Brijesh Bhatia,
Research Analyst, Fast Profits Report
Nifty500, the broader market index closed below the 200DMA for the first time since July 2022; time to be cautious for bulls.
Nifty50 is hovering at the major support area of 17,500 - technically and as per derivative structure too.
If bulls manage to hold 17,457 tomorrow, the expiry is likely around 17,600 levels.
Brijesh Bhatia,
Research Analyst, Fast Profits Report
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The month started with volatility on Budget Day and it's been a range trading for last 4 weeks.
SGX Nifty indicating an opening around 17,600 with gains of 48 points.
On Nifty, the bearish momentum yesterday halted at the support zone of 17,500-17,600. The 17600CE writer's were active yesterday and the sustainable move above 17,600 in the first hour may trigger short-covering rally. On the other hand, the break of 17,458 may accelerate bearish momentum.
#SGXNifty
#PreMarket
SGX Nifty indicating an opening around 17,600 with gains of 48 points.
On Nifty, the bearish momentum yesterday halted at the support zone of 17,500-17,600. The 17600CE writer's were active yesterday and the sustainable move above 17,600 in the first hour may trigger short-covering rally. On the other hand, the break of 17,458 may accelerate bearish momentum.
#SGXNifty
#PreMarket
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Fast Profits Daily
The month started with volatility on Budget Day and it's been a range trading for last 4 weeks. SGX Nifty indicating an opening around 17,600 with gains of 48 points. On Nifty, the bearish momentum yesterday halted at the support zone of 17,500-17,600. The…
Bulls managing to hold the support of 17,458 on Nifty. 🤞🏻
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Zee Entertainment – The Breakdown 📉
The stock is trading down by 10% after the bankruptcy court admits the company is under the insolvency resolution process.
Now you can now track the buzzing stocks here
Technically, the stock has broken the rising trendline (green) on the weekly chart indicating a sign of caution for bulls.
The higher high – higher low bullish structure as per Dow Theory has been negated signalling the trend reversal.
The next support is placed at Rs 160; if broken may accelerate the bearish momentum on the chart.
(CMP-Rs.190)
The stock is trading down by 10% after the bankruptcy court admits the company is under the insolvency resolution process.
Now you can now track the buzzing stocks here
Technically, the stock has broken the rising trendline (green) on the weekly chart indicating a sign of caution for bulls.
The higher high – higher low bullish structure as per Dow Theory has been negated signalling the trend reversal.
The next support is placed at Rs 160; if broken may accelerate the bearish momentum on the chart.
(CMP-Rs.190)
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The volatile day on Wall-Street ends in green with the gains of 0.33% on Dow Jones; Nasdaq gains 0.72%.
Nifty manage to close above 17,500 on expiry day; hovering around 200DEMA.
SGX Nifty is trading 88 points higher at 17,645; the spot Nifty needs to close above 17,634 for bullish momentum.
The banks may continue to put pressure on markets; the break of 39,389 on BankNifty may accelerate the bearish trend.
#PreMarket
#SGXNifty
Nifty manage to close above 17,500 on expiry day; hovering around 200DEMA.
SGX Nifty is trading 88 points higher at 17,645; the spot Nifty needs to close above 17,634 for bullish momentum.
The banks may continue to put pressure on markets; the break of 39,389 on BankNifty may accelerate the bearish trend.
#PreMarket
#SGXNifty
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Hindalco - Descending into the Red 📉
The stock began the new F&O expiry with a bearish tone by losing over 4% in the first hour of the day.
Now you can now track the buzzing stocks here
Technically, the stock price on the chart has turned bearish as highlighted by multiple patterns.
1. The rising trendline breakdown (black).
2. The long-term exponential moving average of 200 days which is a trend signals a bearish tone as the multiple rejections at the average in the last couple of weeks triggered the bearish momentum.
The setup would negate on breach of 50DEMA (green).
Bears are having an upper hand on the chart with the support placed at Rs 389-395.
(CMP-419)
#NiftyMetals
#KeepItSimple
The stock began the new F&O expiry with a bearish tone by losing over 4% in the first hour of the day.
Now you can now track the buzzing stocks here
Technically, the stock price on the chart has turned bearish as highlighted by multiple patterns.
1. The rising trendline breakdown (black).
2. The long-term exponential moving average of 200 days which is a trend signals a bearish tone as the multiple rejections at the average in the last couple of weeks triggered the bearish momentum.
The setup would negate on breach of 50DEMA (green).
Bears are having an upper hand on the chart with the support placed at Rs 389-395.
(CMP-419)
#NiftyMetals
#KeepItSimple
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Forwarded from Equitymaster
What's your prediction for the Sensex for 2023 (end of year)?
Final Results
17%
Less than 55,000
21%
Between 55,000 to 60,000
30%
Between 60,000 and 65,000
18%
Between 65,000 and 70,000
14%
More than 70,000
This Sector is in Danger ⚠️
The last week's turbulence on D-street resulted in trend reversal in many of the sectors and stocks.
One such sector is Breweries and Distilleries which is showing the sign of reversal on the charts.
We created Market-Cap Weighted Breweries & Distilleries Index to analyse the sector trend. On the daily chart, the chart depicts:
1. The trendline breakdown.
2. Death-Cross moving average.
3. The probable double-top pattern.
We have heard many stories of people talking about investing in Eicher motors rather than buying its bike while some say investing in breweries stocks rather than drinking 60-90ml every day. 😛
I guess no one-stop drinks for the sake of investing. What about you?
Happy Saturday!
The last week's turbulence on D-street resulted in trend reversal in many of the sectors and stocks.
One such sector is Breweries and Distilleries which is showing the sign of reversal on the charts.
We created Market-Cap Weighted Breweries & Distilleries Index to analyse the sector trend. On the daily chart, the chart depicts:
1. The trendline breakdown.
2. Death-Cross moving average.
3. The probable double-top pattern.
We have heard many stories of people talking about investing in Eicher motors rather than buying its bike while some say investing in breweries stocks rather than drinking 60-90ml every day. 😛
I guess no one-stop drinks for the sake of investing. What about you?
Happy Saturday!
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