Nifty Energy Index – Bulls Capitalizing on Technical Supports
Index has corrected over 16% in the first two months of 2023 but the recovery in March indicates a sign of reversal on the chart.
On the weekly chart, the index is trading at the confluence of support.
1. Falling Channel - The fall has halted at the support line of the channel.
2. Fibonacci Retracement - The index has taken support at 38.20% Fibonacci level of the rise from March 2020 lows to the high of April 2022.
3. Piercing Candlestick Pattern - The bullish reversal pattern forming at the support of the channel and Fibonacci retracement strengthens the reversal in trend.
4. 200WEMA - The 200-week EMA defines long-term trend of an asset.
On the contrary, when Nifty50 is negative this month, the Energy index gained over 5% indicating an outperformance.
Constituents of Energy Index
Reliance Industries
NTPC
PowerGrid
ONGC
Adani Green Energy Ltd
BPCL
Tata Power
IOC
GAIL
Adani Transmission
#EnergyIndex
#KeepItSimple
Index has corrected over 16% in the first two months of 2023 but the recovery in March indicates a sign of reversal on the chart.
On the weekly chart, the index is trading at the confluence of support.
1. Falling Channel - The fall has halted at the support line of the channel.
2. Fibonacci Retracement - The index has taken support at 38.20% Fibonacci level of the rise from March 2020 lows to the high of April 2022.
3. Piercing Candlestick Pattern - The bullish reversal pattern forming at the support of the channel and Fibonacci retracement strengthens the reversal in trend.
4. 200WEMA - The 200-week EMA defines long-term trend of an asset.
On the contrary, when Nifty50 is negative this month, the Energy index gained over 5% indicating an outperformance.
Constituents of Energy Index
Reliance Industries
NTPC
PowerGrid
ONGC
Adani Green Energy Ltd
BPCL
Tata Power
IOC
GAIL
Adani Transmission
#EnergyIndex
#KeepItSimple
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Do you believe the BSE Sensex will hit a new high this year?
Final Results
47%
Yes
40%
No
13%
Can't say
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US markets trade mix yesterday as Bank Index gains 3% while IT slips by 0.5%; Dow Jones gains 0.6%.
On daily chart of Dow Jones, index retested the breakdown of triangle pattern at 32,550. This is the second attempt for pattern failure which will confirm on a close above 32,800.
On Nifty, the volatile day ends at 16,985 gaining 40points.
The Option Writers are fighting for 17,000 ahead of monthly expiry tomorrow. The major support is placed at 16,700-16,800 while resistance at 17,235-17,300 on Nifty.
BankNifty may witness positive momentum as US Bank Index gains 3%; likely range of 38,900-40,200 till expiry.
#SGXNifty
#PreMarket
On daily chart of Dow Jones, index retested the breakdown of triangle pattern at 32,550. This is the second attempt for pattern failure which will confirm on a close above 32,800.
On Nifty, the volatile day ends at 16,985 gaining 40points.
The Option Writers are fighting for 17,000 ahead of monthly expiry tomorrow. The major support is placed at 16,700-16,800 while resistance at 17,235-17,300 on Nifty.
BankNifty may witness positive momentum as US Bank Index gains 3%; likely range of 38,900-40,200 till expiry.
#SGXNifty
#PreMarket
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Here's a list of stocks to watch out for today. This list is updated LIVE, so be sure to check back regularly... http://www.eqtm.in/Me4d3
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Global and domestic markets traded in the range yesterday; Asian indices starts off the day on a positive note with HangSeng up by 2.5% and Nikkei by 0.5%.
SGX Nifty trades up by 0.5% at 17,078.
It's a tug of war between 17000CE and 17000PE Option Writers this expiry as 17000CE OI stands at 2.86L and 17000PE at 1.97L contracts. It indicates another range-bound day on the index while stock volatility may prolong.
Technically, the break of 16,900 may trigger the fall towards 16,800 while 17,135 may act as a resistance zone on Nifty.
On BankNifty, the index is likely to trade in the range of 36,867-40,200.
#PreMarket
#SGXNifty
SGX Nifty trades up by 0.5% at 17,078.
It's a tug of war between 17000CE and 17000PE Option Writers this expiry as 17000CE OI stands at 2.86L and 17000PE at 1.97L contracts. It indicates another range-bound day on the index while stock volatility may prolong.
Technically, the break of 16,900 may trigger the fall towards 16,800 while 17,135 may act as a resistance zone on Nifty.
On BankNifty, the index is likely to trade in the range of 36,867-40,200.
#PreMarket
#SGXNifty
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US and European markets trade on a positive note this week. Dow Jones trying to fail the triangle breakdown if it closes above 32,800 today, a weekly close.
Indian indices have underperformed global markets this month. European markets are approaching towards monthly high indicating the continuation of bullish trend.
On Nifty, the expiry close above 17,000 is a bullish sign. The close above 17,260 today may confirm reversal on weekly and monthly chart.
On BankNifty, the close above 40,215 will confirm the breakout from inside-bar pattern on the weekky chart.
Do remember, MF may trigger the buying in the second half on account of Financial Year closing.
Today's close will be weekly, monthly, quarterly and FY22-23 close.
#PreMarket
#SGXNifty
Indian indices have underperformed global markets this month. European markets are approaching towards monthly high indicating the continuation of bullish trend.
On Nifty, the expiry close above 17,000 is a bullish sign. The close above 17,260 today may confirm reversal on weekly and monthly chart.
On BankNifty, the close above 40,215 will confirm the breakout from inside-bar pattern on the weekky chart.
Do remember, MF may trigger the buying in the second half on account of Financial Year closing.
Today's close will be weekly, monthly, quarterly and FY22-23 close.
#PreMarket
#SGXNifty
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Fast Profits Daily
Nifty Energy Index – Bulls Capitalizing on Technical Supports Index has corrected over 16% in the first two months of 2023 but the recovery in March indicates a sign of reversal on the chart. On the weekly chart, the index is trading at the confluence of…
Nifty Energy - Bulls Capitalizing...
Are you in the Game? 📈💰
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Are you in the Game? 📈💰
👍🏻 Yes
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It was everything for bulls on Friday as the Financial Year 20222-2023 ends on a positive note.
The winner for first quarter of 2023 is European markets as DAX and CAC40 gain over 12% while Dow Jones end on a flat note with 0.4%. Indian markets underperform with loss of 4%.
In the truncated week, Nifty is expected to trade bullish with major hurdle at 17,576 on charts - first the gap and second the death cross of exponential moving averages at 17,530.
On BankNifty, the range of 41,300-40,000 will be crucial to watch this week. Chart here
SGXNifty indicates positive opening above 17,450.
#PreMarket
#SGXNifty
The winner for first quarter of 2023 is European markets as DAX and CAC40 gain over 12% while Dow Jones end on a flat note with 0.4%. Indian markets underperform with loss of 4%.
In the truncated week, Nifty is expected to trade bullish with major hurdle at 17,576 on charts - first the gap and second the death cross of exponential moving averages at 17,530.
On BankNifty, the range of 41,300-40,000 will be crucial to watch this week. Chart here
SGXNifty indicates positive opening above 17,450.
#PreMarket
#SGXNifty
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Gold 61,000+ and Silver 74,700 on MCX Futures 🔥
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After a bullish move last week, Dow Jones starts the week on a positive note; gains a percent on Monday while traded in a range yesterday losing 0.59%.
On the daily chart of Dow Jones, the triangle breakdown failure indicates an end to the bearish momentum; the break of 34,300 will open the doors for higher levels above 36,000.
Nifty started the April Future series with a bang; the 17,500-17,700 band is a major hurdle for bulls.
SGX Nifty indicates a positive opening of 50 points; the 3 months falling trendline breakout above 17,632 indicates the test of 18,000 levels.
BankNifty may reclaim 41,000 levels today but 41,300 is a must-break for bulls to resume the bullish momentum.
Trading levels to watch:
Nifty 17,279-17,541
BankNifty: 40,563-41,338
#PreMarket
#SGXNifty
On the daily chart of Dow Jones, the triangle breakdown failure indicates an end to the bearish momentum; the break of 34,300 will open the doors for higher levels above 36,000.
Nifty started the April Future series with a bang; the 17,500-17,700 band is a major hurdle for bulls.
SGX Nifty indicates a positive opening of 50 points; the 3 months falling trendline breakout above 17,632 indicates the test of 18,000 levels.
BankNifty may reclaim 41,000 levels today but 41,300 is a must-break for bulls to resume the bullish momentum.
Trading levels to watch:
Nifty 17,279-17,541
BankNifty: 40,563-41,338
#PreMarket
#SGXNifty
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