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Niftyalanysis

Cup and Handle Formation in Nifty in Progress in the long run.Nifty Outlook: Nifty Looks good for a long haul in the long run. In the short term though Nifty seems a little bit of consolidation before it heads further. RSI on hourly chart shown a need of little bit of strength through consolidation. Which means we may see little bit sluggish end of the week tomorrow as Nifty is already in the resistance zone. This zone might not allow Nifty to escape the clutches easily. But if Nifty does escape this medium term resistance, It can fly ahead with even more power. Medium Term Resistance zone: 17857 to 18100. Long Term Resistances: Long Term resistances for Nifty lies at 18446 and 18887. Medium term Supports: 17614 and 17314. Long Term Supports: 16828 and 16520. Long Term Targets for Nifty which it can reach within This year or by Second quarter of 2024 seems to be 19447 or on the upper side 20160. .
NSE:NIFTYLong
by Happy_Candles_Investment
Very Simple explanation to what happened today.Nifty found resistance at 50 days EMA which was at 17285 as it made a peak of 17275.65 and found support at 200 days EMA 16840 and Nifty formed todays low or todays bottom near 17824. Nifty ending above 200 days EMA was a good sign and we can see a good bounce back tomorrow by NIFTY. The resistances will be near 16958, 17032, 17285. IF 200 EMA is broken there will be more trouble and supports in this case will be near 16759, 16558 and 16436 in very unlikely circumstances. As of now it seems that Nifty might be see moving towards Momma Support of 50 EMA. It may even attempt or try to cross it this week itself once again.
NSE:NIFTYLong
by Happy_Candles_Investment
Bulls unleashed power max, as the clouds of war became lax.With Russia and Ukraine war pressure seeming to ease today what we are seeing in Nifty is a relief rally. This can continue for a while and next resistance for Nifty is around the range of 17486. Crossing 17486 next resistance for Nifty will be at 17815. Supports on the down side for Nifty are 17128 and 16823. Critical level to cross for Nifty will be 50 EMA that is at 17486 sustaining above it will enhance the chance of Nifty moving first towards 17800 levels and thereafter to 18K levels. We hope that there is no further bad news from Ukraine front.
NSE:NIFTYLong
by Happy_Candles_Investment