Fast Profits Daily - Nifty is Warming up for a New All-Time High

Can the Nifty make a new all-time high? This is what the charts say...

http://www.eqtm.in/x7ZBf

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Nifty - The Perfect Reversal

Nifty has hit the all-time high of 18,604 in October 2021. It has been 89 trading days since its high and markets are showing the signs of positive momentum in today's session.

Why 89 is so important:
As per Fibonacci time cycle period, 89 period is considered as one of the time cycle reversal.

The gap-up opening and reversal from the support of channel indicates the momentum are still favoring bulls after the Black Thursday.

In the video, we highlighted the support zone of 16,300-16,500, Nifty made the low of 16,203 on an exaggerated momentum but finding the lost ground.

The Bullish Reversal
The Bullish AB=CD harmonic pattern had a reversal levels at 16,245 just above the support line of channel.

The reversal from AB=CD signals the bearish momentum may take an end and index may head towards north.

As the uncertainty hovers over Russia-Ukraine war, the level of 16,200 may hold for Nifty.

Traders should remain cautious till the dust settles (volatility).

#KeepItSimple

IT Index - The Big Bull

IT index was major contributor to the Nifty rally in second half of 2021 but witnessed the profit bookings as market retraced.

Index is now trading at the crucial support zone of ichimoku cloud and witnessing the bullish momentum.

The bullish divergence on RSI as IT index hits 27 weeks low indicates the lack of bears strength. The 27 being the Fibonacci number plays a key important role in reversal.

If bulls manage to move above the previous week high of 34,692, we may witness the short covering rally in the markets and IT index may lead Nifty higher above the 17,000 mark.

#KeepItSimple

Fast Profits Daily - A Trader's War Room

What should you be your war-time trading strategy?

http://www.eqtm.in/Wt9g6

Bank Nifty - It's a Screaming Buy

It has been tough times for traders in the last few weeks as markets are trending in gaps offering an unfavorable risk-reward trades.

From the highs of 41,820 (Futures), Bank Nifty has slipped below 33,000 mark today, a correction over 20% on geo-political tensions.

Technically, it's a screaming buy as it trades around the long-term support area of 32,500-31,500 zone.

The Bullish Gartley harmonic reversal pattern is visible on weekly chart at the recent lows of ~32,700 which is near the support zone.

Additionally, the 100WEMA is placed at 33,176 offering the support to bulls.

Traders/investors should gradually accumulate till 32,000 levels. The pattern negates on the breach of 30,400 levels.

Considering the favorable risk-reward, I believe this is the long-term buying opportunity in Bank Nifty.

The volatility will continue to stay higher amid the Russia-Ukraine developments and traders should risk only what they can afford.

#KeepItSimple

USDINR - Will it be a nail in the coffin for Equities?

Indian Rupee depreciated to the historic low of 77.14 against dollar today.

Since it pandemic low of 77.0080, it consolidated in the range of 72-77 for 23months; finally it break the range.

I did a video last year stating the Rupee to head to 80 against Dollar, 'der aaye durust aaye' 😛
(Video link: https://www.youtube.com/watch?v=vkkbaG7wteI&t=1s )

Historically, the depreciating rupee have short-term pain on Indian equities but they tend to go hand-in-hand in the long-term (the percentage rise and fall may differ).

As Nifty corrected from 18,600 to ~15,700 level now, can the depreciating rupee be a last nail in the coffins for bears?

Additionally, the depreciating rupee will be the perks for IT sector and it may boost Nifty higher. IT sector weighs ~18% in Nifty which may trigger the reversal in the coming weeks.

#KeepItSimple

Bank Nifty - Reversing from the demand zone

Bank Nifty hits the low of 32,155 and as I have mentioned the dips towards 32,000 as an accumulation levels, it turned back above and closed 33,000 marks today.

The bulls need to build a bridge over the brook of 33,500-34,100, which if taken out can test 36,000-37,000 levels in coming months. ↗️

#KeepItSimple

Nasdaq - The Bulls are turning the tide

After the negative opening, Nasdaq hits the low of 13,129 and reversed back above the 13,600 levels indicating the bulls are turning the tides.

Why is today's reversal important?

Index hit the low of 13,129 but didn't break the open and low of 13,065 clocked on 24th Feb 2022. It formed bullish belt-hold candlestick pattern at the low of 13,065 with multiple reversal pattern.

Additionally, the bullish crab harmonic pattern is visible on chart which completed at 13,065 indicating apna-time-aayega for bulls. An icing on cake was the positive divergence on RSI confirming the bears are losing their ground.

Can Nasdaq help Indian IT sector ladder higher in their outperformance trend? Watch the video here https://t.me/FastProfitsReport/423

#KeepItSimple

Bank Nifty - 32,251 to 34,000+

Index reverse from the lows to 23.60% Fibonacci retracement at 33,900. Also, the gap hurdle of 34,153 needs to surpass for the further bullish momentum.

The momentum players can look to take some chips off the table.

#KeepItSimple

S&P500 - Bears may call it a day

The sell-off in last couple of hours ended the day near lows for S&P500 (SPX) after the stellar comeback from 4,114.

Surprisingly, the low of 4114 is also the palindromic number which has its significance in astro analysis. (I am not a astro analyst)

Technically, the reversal from bullish nen-star harmonic pattern and dip to test the lows are can be an opportunity for bulls.

The bullish cypher pattern has formed near the yesterday's low indicating the bears may call it a day for this bearish momentum.

The bullish divergence on RSI signs a weakening bears and it's time for bulls to enter the arena.

If bears want to continue their bearish momentum, they need to break 4,000-4,052 zone where the bullish harmonic will negate.

#KeepItSimple

Fast Profits Daily -Time to Buy Real Estate Stocks

This is why I'm bullish of realty stocks.

http://www.eqtm.in/Gb48E

The momentum reversed after short covering rally above 16,000 in Nifty; index hits high of 16,418 before closing at 16,345 gaining 2.07%.

The market breadth was enthusiastic after a long period of bearish momentum; over 75% stocks in Nifty500 ended in green.

The gap area of 16,450-16,500 in the next hurdle for bulls in Nifty; if taken out, 16750-16,800 insight for bulls.

Brijesh Bhatia
Research Analyst, Fast Profit Report

Nifty : 16800-16900 as hard as nails

The bulls are having a sigh of relief as Index recovered by more than 6% from the low of 15,671 to 16,700+ levels on the back of short-covering rally.

Index has hit the crucial resistance zone and bulls will face tough it as per technical structure.

1. The falling channel resistance is placed at 16,840
2. Gap-area of 16,700-17,000
3. 200DEMA is placed at 16,692

The 16,800-16,900 zone will be as hard as nails for bulls to continue its reversal momentum. If they manage to close above 16,861, the bears may lose the battle and index may head to 17,500-17,800 zone in the next couple of weeks.

As an intraday trader, I would avoid longs here as most of the Nifty giants like Reliance, Infy, TCS, HDFC and HDFC Bank have Open=High.

We recommended a Screaming Buy in Bank Nifty which is up by ~3,000pts from the lows. Watch chart here https://t.me/FastProfitsReport/419

#KeepItSimple

Nifty slips over 300pts from 16,750 to 16,450....As highlighted in the morning, avoid intraday longs.

Nifty Energy Index : Don't miss the bus

The Russia-Ukraine war has triggered bullish momentum in commodity space. US Crudeoil completes the राम वनवास as it hits the 14years of $129.

Nifty Energy Index rallied by ~10% since the war news broke out and is on the verge of bullish breakout.

Index is trading around 24,800 just near the breakout of bullish or inverted head and shoulder pattern which is placed at 25,100-25,250 zone.

Moving Average Convergence Divergence (MACD) in the lower panel of chart is trending bullish indicating the breakout can be on cards.

The breakout from the pattern can take index to the new highs and sky is the limit for these energy stocks.

#KeepItSimple

Indian markets rebound after the four weeks loss; Nifty ends at 16,630 gaining 2.37% for the week.

Index is trading at crucial resistance zone of 16,800-16,900 and failed to cross in last couple of trading session. Watch chart here https://t.me/FastProfitsReport/433

Energy index is on the verge of bullish head and shoulder breakout above 25,100-25,250. https://t.me/FastProfitsReport/435

From the broader benchmark indices, Smallcap index moves above the previous week high indicating the investors are preferring risker stocks over the blue-chip.

Brijesh Bhatia
Research Analyst, Fast Profit Report