NiftyNifty Daily Chart with Fib Retracement my view is Bullish because of Retracement might be will go 20870 point one it will bullish again so buy on dip only stocks for swing not nifty or banknifty..
Niftybullish
Nifty bullishNIFTY gives breakout on weekly time frame, it's shows bullish momentum on bigger time frame. nifty is buy on dip till its above the 10 week moving average.
Nifty BullishNifty today probably opening arround 17900. As per my analysis NIFTY bullish till 18000 levels no proper supply level is there at least for short term. Daily creating Gaps. When reaches at 18000 then will see the price action which nifty makes and then decide future course of action.
Nifty Outlook for week starting 18th-22nd July 2022 - POSITIVE.NIFTY gave a strong closing on Friday as it ended above a long term support of 15917 and 16030. Yet the Important hurdle of 50 days EMA is still ahead of it which is at 16132. Crossing and closing above 16132 will be important for Nifty to go towards 16277.
above 16277 levels Nifty in a short to medium term can go towards 16525 which is it’s 200 days EMA and a strong resistance. Bulls will be in command only above this level. On the lower side again 16030 and 15917 will be the support zones.
Below 15917 Nifty can go towards 15738 zone, however during the next week if Nifty closes above key level of 16132, chances for positivity will be more.
NIFTY Strong resistance will be broken within this week and there is a huge gap of 230 points
BUY ABOVE 16000
Nifty positive expectedTECHNICAL ANALYSIS FOR EDUCATIONAL PURPOSE ONLY.
A positive move is expected in nifty in the coming days.
The above analysis is done using:-
- Fibonacci Retracement
- RSI
- MACD
NIFTY - 10450- 10550 still on the cardsAs long as nifty is holding 10140 -10120 levels , the probability of its moving towards 10450-10550 is still on the cards
hence its buy on dips as long as its holding 10120 on intraday basis and 9940 on weekly basis.
Nifty Analysis & outlookThe previous high nifty made was @ 10137 on 2nd August 2017.
Now it is about to test the same high again. There will be strong resistance between 10137 to 10150 (being round number).
If it closes above 10137 - 10150 on daily chart it should be a buy with stop-loss at 10128 (...giving cushion to avoid whipsaws).
If it tests 10137 it may retrace to support @ 9983-10000 before it breaks out of the 10150, which I see at intraday buy opportunity.
To conclude, a break out above 10150 with good volumes would make it a high probability trade (HPT), with great Risk to Reward ratio.
Nifty updateContinuing with the previous ideas, Nifty seems to have started it's final move till 8770 before a higher degree correction till around 8350 (exactly level can be obtained once this rise is over).
