Nifty – With the Morning Tea CUP

An outperforming index with a reversal in global equities is approaching an all-time high level; Yes, It’s Nifty!

Nifty hit a high of 18,175 yesterday and traded at 41 weeks high. It is a couple of per cent away from hitting the new all-time high (18,604).

As per Dow Theory, the break and close above 18,100 ended the bearish lower high – lower low structure.

The bullish breakout from the CUP & HANDLE chart pattern is visible on the daily chart.

As SGX Nifty is trading down by ~30 points, a dip in the range of 18,000-18,100 will be an accumulation for bulls as it will be the retest zone of the pattern.

Additionally, the runaway gaps indicate the strength in the bullish momentum.

The contribution by blue-chips strengthens the market breadth. The HDFC twins are back in the action. Can they lead Nifty to an all-time high? Watch here

#Nifty
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The calm before the storm on D-street as Nifty hovers in the range ahead of weekly expiry; ends at 18,082 losing 0.34%.

The breakout of the Bullish Cup & Handle pattern is visible on daily charts at 18,000-18,100; the bullish momentum after retesting the breakout will resume the trend towards an all-time high.

The bearish engulfing is visible on the daily chart of Nifty50 and Nifty500 indicating a pause in the momentum.

It’s time for the bulls to shift from large-caps to mid-caps for momentum play.

Brijesh Bhatia
Research Analyst, Fast Profit Report

SGX Nifty indicates GAP-DOWN opening @ ~18,000


What is your Trading Plan for Expiry?

Buy @ Open 👍🏻
Sell @ Open 👎🏻
Wait & Watch ❤️

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SGX Nifty - Holding the Technical Support

ARE YOU BUYING? 🤨

MarketCap Weighted Cement Index - Video Coming Soon 🎬

The Fed triggers the sell-off in the global markets; Nifty opens with a gap-down but trades in the thin range.

It was Options writers expiry as Nifty trades in the range of 18,000-18,100.

The bulls should grab the opportunity at the resistance turn support of 18,000 on Nifty; let’s hit the new all-time high.

The resumption in the PSU Bank index indicates it’s not an end yet. I recommended buying PSU Banks in the Diwali Samvat 2079 video. Watch here

Brijesh Bhatia
Research Analyst, Fast Profit Report

The bullish reversal confirms on the D-street as per Dow theory as the Nifty forms a higher high surpassing the previous high of 18,096 on the weekly chart; ends the week at 18,117 gaining 1.86%.

The broad-based buying was witnessed during the week as all the sectorial indices ended on a positive weekly basis.

The Metals stocks are back in action as the index gains 7.5% during the week. The breakout from the triangle pattern is visible on the daily chart of the Metals index indicating the bullish momentum to prolong in the November series.

Nifty is likely to head towards a new all-time high as the heavyweights like HDFC twins and Reliance awakens.

Brijesh Bhatia
Research Analyst, Fast Profit Report

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Happy learning!

Bank Nifty – The Calm before the Storm

In the last couple of weeks, Bank Nifty has been in silent mode even when giants like HDFC have awakened and SBI is trading at an all-time high. Bank Nifty has gained merely a per cent while Nifty50 is up 3%; it’s time for Bank Nifty to catch up with Nifty.

Sshh! I heard something...

On the hourly chart, the index signals something is coming in the upcoming truncated week.

Technically, the squeeze in Bollinger Band signals an explosive move can be on cards.

The breakout on either side of an upper band placed at 41,432 and a lower band at 41,050 can trigger the fast and furious move of over 500+ points.

Additionally, the break from the rectangular pattern ranges from 40,800-41,700 will be the icing on the cake.

Hey traders, roll up your sleeves to trade this breakout setup. 📈📉
(CMP-41,258)

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Wohoo! 🔥

Bank Nifty : 41,450 to 41,750 📈💰

Indian benchmark indices following the formula of slow and steady win the race as Nifty opens with a gap and consolidates at higher levels; ends at 18,202 gaining 0.47%.

The bulls are approaching the index towards the new all-time high of 18,604 on Nifty while t broader market index, Nifty500 is a couple of percent away from hitting new highs.

Smallcap index which is silent may catch up the pace with Nifty50. The SmallCap index as it breaks out of the falling trendline on the daily chart indicating the bulls are warming up for a bigger rally. Even Russell2000, the US SmallCap index is hovering at the support area indicating the bullish scenario.

5 Smallcap Stocks Under Rs 100 to Add to Your Watchlist 📈

https://youtu.be/K5Ac0px9808

The week has started on a positive note as the Nifty 50 index hit a high of 18,255, a couple of percentage points away from its all-time high of 18,604.

While the broader market index Nifty500 is merely 3% away from its all-time high, the smallcap index is yet to catch up with the momentum.

US markets are showing signs of reversal but are yet to confirm the bottom.

What highlighted me to write this piece and record a video around the same for our subscribers was the US smallcap index - Russell2000.

Russell2000

The high of 1,740 in 2018 acted as the resistance zone in 2020 ahead of the pandemic fall. The index corrected over 40% during the pandemic phase and witnessed the V-shape recovery in sync with the large-cap indices.

Currently, the index is back around the 1,700-1,800 zone to retest the long-term technical breakout levels.

The resistance turns support, and the probable double bottom pattern is visible on charts indicating the bottom process in on cards. Though the confirmation of the double pattern will be above 2,050.

As Indian markets are outperforming against the US markets, the Nifty SmallCap index has just broken out of its consolidation zone.

Nifty SmallCap Index

Something is on cards for SmallCap index as it breaks out of the falling trendline on the daily chart indicating the bulls are warming up for the bigger rally.

The horizontal trendline which acted as resistance in the first half of 2022 is acting as a support zone for bulls in the second half.

And the golden crossover is on cards too as the 50DEMA (green) and 200DEMA (orange) converge to turn bullish.

With the Nifty SmallCap index suggesting the bullish scenario on charts and Russell2000 in the bottoming process, I believe it’s time to focus on smallcap stocks.

Here is the list of potential smallcap stocks under Rs 100 that investors should have on their watchlist.

Please note, these are not recommendations by any stretch. Just a list of stocks that look good on charts.

1. IDFC
2. Shree Renuka Sugar Ltd
3. CESC Ltd
4. Bank of Maharashtra
5. NLC India Ltd.

I also request readers to watch the video below to check out the levels for these stocks.

SGX Nifty - Heading for 18,600+ 📈

Index is trending in the bullish structure of a higher high – higher low pattern as per Dow theory.

The index is heading higher with the support of the rising channel and the bullish momentum may trend towards the upper band of the channel at the 18,600+ level.

The previous support zone of ~18,000 (marked 1 on the chart) formed the base after the breakout and retested before heading northwards to ~18,300 levels.

With Indian markets off today due to Guru Nanak Jayanti, SGX Nifty is hovering around the minor hurdle (marked 2 on the chart) in the range of 18,280-18,360.

With the sunrise, SGX Nifty rose to the high of 18,404 and is likely to surpass the high in the second half of the day with an opening of US markets.

The sustainability above the 18,400 level, the new base will be the 18,150-18,200 zone for the next bullish leg on charts.
(CMP-18,325)

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Moon 🌕

Nifty & Bank Nifty - Time to break into a gallop 📈

SGX Nifty is indicating a positive opening around 18,400 levels.

With the premium of ~65points, spot Nifty is likely to open around ~18,300+ levels.

Index has surpassed the previous hurdle of 18,100 and heading to break another at 18,350. The momentum may accelerate above 18,350 to inch at a new all-time high.

Bank Nifty had its highest-ever close of 41,686.

The index will break into a gallop above the 42,000 mark.

Traders, tighten your seat belts as we may witness the faster and furious rally above the breakout levels.

#SGXNiftyLive
#Nifty
#KeepItSimple

HDFC Bank / Bank Nifty Ratio Chart 📈📉

Detail note Coming Soon.....

The gap-up opening for the bulls but the intraday bears grabbed an opportunity to short the day; Nifty ended at 18,157 losing 0.25%.

The minor hurdle for Nifty is placed at 18,350, above which the momentum may accelerate towards an all-time high. Watch the chart here

Bank Nifty hits an all-time high of 41,948 but the highest weightage constituent is underperforming the index.

An end to the 18 years of outperforming stock in the index is indicated by the breakdown in the ratio chart of HDFC Bank / Bank Nifty. Read here

Brijesh Bhatia,
Research Analyst, Fast Profits Report