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Nifty 50 Updates for next weekAfter consolidating for two weeks between 16,800-17,500 levels, Nifty 50 Index finally broke the range and continued to fall sharply, triggered mainly by surprise interest rate hike by the RBI, hawkish commentary from US Fed and mixed corporate results. The short-term trend has turned bearish and it is likely that markets can further slide lower. The volatility climbed above the 21 mark again, indicating that the trend may be in favour of bears. Week ahead The range break during previous week has triggered ABCD (as discussed in previous weeks analysis) and XABCD Patterns. Index has formed a doji candle on the daily charts, after a significant fall and the breakdown and retesting of PDL of 16,350 will fuel fresh down-move with targets (PRZs) of 16,200 and 16,000 (Key support) respectively. One can look for a reversal in shorter timeframe in this strong demand zone. Any pullback rally is possible only if 16,500 levels is sustained with resistances at 16,650 and 16,800 (Strong resistance). Pullbacks may be short-lived as we are currently in a ‘sell-on-rise markets’ and one should keep trailing profits or keep targets small on the long side. 16,000-16,800 is the likely range for the Index in the upcoming week and volatility is expected to remain high. Carrying unhedged positions may be risky because of the gap downs / ups and its advisable to keep the position size low. On the news front, Markets will react to RIL results in early trade on Monday. US, China and domestic inflation numbers, Data on India's industrial output, and manufacturing output will keep Indian markets on edge. Follow us for real-time updates as the week progresses.
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by CodeViser
@ NIFTY 50 IN A LONG TERM BREAKDOWN ? NIFTY 50 ANALYSIS OF MONTHLY CHART i) Price Action forming a Round Top ii) MACD above Zero Line iii) MACD looks on the verge of Bearish Cross over . iv) MACD Line pointing downwards v) MACD histogram ; Smaller Light Green . Looks like it could go Red in any moment . vi) RSI forming lower lows MACD did a Bullish Crossover on 14th of March 20 and took market in a long term Bull Phase . Will MACD bearish Crossover mean a long term Bearish Trend ? The month of April is very critical . Should the MACD do a bearish crossover and give a closing below March low of 15724 we could be in a long term Bear Market . Caution :- Rounding Tops in a Bull Market have 58% probability ( Source Encyclopaedia of Chart Patterns by Thomas Bulkowoski ) of Bullish Breakout . I am not a SEBI registered advisor . Please do your own research and your own due diligence .
NSE:NIFTYShort
by sandeep19033
Nifty 50 , Any confusion still?Alight people. Happy new year, this is my first post after the new year. I was looking for different markets and here is the one which needs some applause Nifty 50 from India. I like Fibonacci and presenting my idea. Monthly in Red, Weekly in Blue and other fancy things are self explanatory in the chart Now if you see daily view of this chart, then it's unidirectionally downtrend but I doubt this is the path to 16156 or 15986 or to fake it 15559. Eventually that's the number but the choice is by dance in between to lure people back to trap OR no time for fun , direct drop to trendline support which confluences with 78% retracement weekly. Who knows?? These are the important levels, if you want to try out 78% retracement, more than 75% time price bounces from there for a little before dropping to 16626 if today it closes above 16994 then it's a breather, not an entry point, come on have patience How to trade this? You can ask me that question in the comment section if there is any specifics needed
NSE:NIFTYShort
by letslearn
Nifty 50 Stock Analysis Series - 7th stock - ITCNifty 50 Stock Analysis Series - 7th stock - ITC -------------------------------------------------------- My Analysis: ---------------- ** Daily Timeframe ** ---------------------------- 1. was in channel pattern till 15th Sep and got a breakout, surged to Rs.260 with little retest. 2. Then, the correction wave (ABC) started and is in the C wave. It may reach Rs.210 in the next 1-2 weeks. 3. MACD is also below. So, wait for now. 4. Target 1 - it may go up (10% at least) to Rs.240 5. Target 2 - it may go up (20% max) to Rs.260 6. Wait for entry. Entry and target points are marked in the chart. Note: I'm not recommending buying this stock. This is for education purposes. This is my view, based on my learning. Please do not trade without your own conviction. Please invest after careful research. I'm not responsible for your profits/losses. - Gnanasekaran
NSE:ITCLong
by gnanasekarang